48-101-111 - Duration of membership Withdrawal. - Tennessee Statutes

48-101-111. Duration of membership Withdrawal.

Membership in the corporation shall be for the duration of the corporation; provided, that upon written notice given to the corporation three (3) years in advance, a member may withdraw from membership in the corporation at the expiration date of such notice. A member shall not be obligated to make any loans to the corporation pursuant to calls made subsequent to the withdrawal of the member.

[Acts 1959, ch. 170, § 7; T.C.A., §§ 48-1711, 48-3-111.]