Business Organizations - As introduced, increases, from two to three, the number of days' notice that a for-profit corporation must give of the date, time, and place of a meeting to elect directors and complete the organization of the corporation or elect a board of directors to complete the organization of the corporation, if the initial directors are not named in the charter of the corporation. - Amends TCA Title 4; Title 29; Title 39; Title 46; Title 47; Title 48; Title 50; Title 61; Title...

Summary

The measure changes Tennessee law so that a for‑profit corporation must give at least three days' notice—not two—when calling a meeting to elect its initial directors, if those directors aren’t named in the charter. It applies only to the first organizational meeting needed to complete the corporation’s formation. The change is intended to give shareholders more time to prepare for the election.

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