48-20-101 - Authority to amend. - Tennessee Statutes

48-20-101. Authority to amend.

(a)  A corporation may amend its charter at any time to add or change a provision that is required or permitted in the charter or to delete a provision not required in the charter. Whether a provision is required or permitted in the charter is determined as of the effective date of the amendment.

(b)  A shareholder of the corporation does not have a vested property right resulting from any provision in the charter or bylaws, including provisions relating to management, control, capital structure, dividend entitlement, or purpose or duration of the corporation.

[Acts 1986, ch. 887, § 10.01; 1987, ch. 273, § 35.]