56-18-114 - Powers of corporation upon conversion. - Tennessee Statutes

56-18-114. Powers of corporation upon conversion.

When a stock life insurance corporation has become converted into a mutual life insurance corporation as provided in this chapter, it shall have all the rights, privileges and powers conferred upon it by its charter and any amendments to its charter, and all the rights, privileges and powers conferred by general laws of this state either expressly applicable to a mutual life insurance corporation or containing general language within the scope and purview of which a mutual life insurance corporation falls.

[Acts 1949, ch. 91, § 13; C. Supp. 1950, § 6433.25 (Williams, § 6433.29); T.C.A. (orig. ed.), § 56-1615.]