48-101-633 - Applicability. - Tennessee Statutes

48-101-633. Applicability.

(a)  This part applies to all professional corporations in existence on July 1, 1993, that were incorporated under any general statute of this state providing for incorporation of corporations for profit.

(b)  The provisions of § 48-101-609(a)(1) do not apply to the charter of any corporation existing on July 1, 1993, unless and until a charter amendment is filed. The first charter amendment filed after June 30, 1993, by a corporation whose charter does not comply with § 48-101-609(a)(1) shall include provisions complying with such section.

(c)  The provisions of § 48-101-611(a) do not apply to shares outstanding on July 1, 1993, until such shares are transferred by the shareholder or otherwise reissued by the corporation. Upon such transfer or reissuance, the provisions of such section shall apply.

(d)  This part does not affect an existing or future right or privilege to render professional services through the use of any other form of business entity.

[Acts 1992, ch. 698, § 1; T.C.A., § 48-3-633.]