48-101-619 - Proxy to vote shares. - Tennessee Statutes

48-101-619. Proxy to vote shares.

(a)  Only a qualified person may be appointed a proxy to vote shares of a professional corporation.

(b)  A voting trust with respect to shares of a professional corporation is not valid unless all of its trustees and beneficiaries are qualified persons. But if a beneficiary who is a qualified person dies or becomes disqualified, a voting trust valid under this subsection continues to be valid for ten (10) months after the date of death or for five (5) months after the disqualification occurred.

[Acts 1992, ch. 698, § 1; T.C.A., § 48-3-619.]