48-53-101 - Purposes. - Tennessee Statutes

48-53-101. Purposes.

(a)  Every corporation incorporated under chapters 51-68 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 an activity that is subject to regulation under another statute of this state may incorporate under chapters 51-68 of this title only if permitted by, and subject to all limitations of, the other statute.

[Acts 1987, ch. 242, § 3.01.]