{"data":{"id":"us-tn/tenn.-code-ann.-43-38-807","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 43-38-807","heading":"Payment of fair value of dissenter's membership interest","body":"(a) Except as provided in § 43-38-809 , as soon as the proposed cooperative action is effectuated, or upon receipt of a payment demand, whichever is later, the cooperative shall pay each dissenter who complied with § 43-38-806 the amount the cooperative estimates to be the fair value of the dissenter's membership interest, plus accrued interest. (b) The payment must be accompanied by: (1) The cooperative's balance sheet as of the end of a fiscal year ending not more than sixteen (16) months before the date of payment, an income statement for that year, and the latest available interim financial statements, if any; (2) A statement of the cooperative estate of the fair value of the membership interests; (3) An explanation of how the value of the membership interest was calculated; (4) A statement of the dissenter's right to demand payment under § 43-38-810 ; and (5) A copy of this part, if the cooperative has not previously sent a copy of this part to the member pursuant to § 43-38-803 or § 43-38-805 . Acts 2004, ch. 534, § 27.\n(a) Except as provided in § 43-38-809 , as soon as the proposed cooperative action is effectuated, or upon receipt of a payment demand, whichever is later, the cooperative shall pay each dissenter who complied with § 43-38-806 the amount the cooperative estimates to be the fair value of the dissenter's membership interest, plus accrued interest.\n(b) The payment must be accompanied by: (1) The cooperative's balance sheet as of the end of a fiscal year ending not more than sixteen (16) months before the date of payment, an income statement for that year, and the latest available interim financial statements, if any; (2) A statement of the cooperative estate of the fair value of the membership interests; (3) An explanation of how the value of the membership interest was calculated; (4) A statement of the dissenter's right to demand payment under § 43-38-810 ; and (5) A copy of this part, if the cooperative has not previously sent a copy of this part to the member pursuant to § 43-38-803 or § 43-38-805 .\n(1) The cooperative's balance sheet as of the end of a fiscal year ending not more than sixteen (16) months before the date of payment, an income statement for that year, and the latest available interim financial statements, if any;\n(2) A statement of the cooperative estate of the fair value of the membership interests;\n(3) An explanation of how the value of the membership interest was calculated;\n(4) A statement of the dissenter's right to demand payment under § 43-38-810 ; and\n(5) A copy of this part, if the cooperative has not previously sent a copy of this part to the member pursuant to § 43-38-803 or § 43-38-805 .","path":["TN Code","Title 43","Chapter 38"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_tn_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:26Z","sha256":"5a21bd06b4fd172330ad6636379a3fe9eecef7efcf302e27e57d186b52f1798b","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-43-38-806","next":"us-tn/tenn.-code-ann.-43-38-808"},"notice":"GroundRules: Original legal text. Not legal advice."}