48-21-101 - Chapter definitions. - Tennessee Statutes

48-21-101. Chapter definitions.

As used in this chapter, unless the context otherwise requires:

     (1)  “Participating shares” means shares however denominated that entitle their holders to participate in distributions on dissolution after all preferences have been paid;

     (2)  “Party to a merger or exchange” means any domestic or foreign corporation, limited liability company or limited partnership that will:

          (A)  Merge in a plan of merger;

          (B)  Acquire shares or units of another domestic or foreign corporation, limited liability company or limited partnership in an exchange;

          (C)  Have all of its shares or units of one (1) or more classes or series acquired in an exchange; or

          (D)  Issue shares or units, obligations, rights to purchase securities or other securities in connection with a merger or exchange;

     (3)  “Unit” means the units into which ownership interests in a limited partnership are divided; and

     (4)  “Voting shares” means shares that entitle their holders to vote unconditionally in the election of directors.

[Acts 1994, ch. 776, § 35; 2006, ch. 620, § 58.]