48-13-101 - Purposes. - Tennessee Statutes

48-13-101. Purposes.

(a)  Every corporation incorporated under chapters 11-27 of this title has the purpose of engaging in any lawful business unless a more limited purpose is set forth in the charter.

(b)  A corporation engaging in a business that is subject to regulation under another statute of this state may incorporate under chapters 11-27 of this title only if permitted by, and subject to all limitations of, the other statute.

[Acts 1986, ch. 887, § 3.01.]