{"data":{"id":"us-tn/tenn.-code-ann.-48-23-207","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 48-23-207","heading":"Failure to take action","body":"(a) If the corporation does not effectuate the proposed action that gave rise to the dissenters' rights within two (2) months after the date set for demanding payment and depositing share certificates, the corporation shall return the deposited certificates and release the transfer restrictions imposed on uncertificated shares.\n(b) If, after returning deposited certificates and releasing transfer restrictions, the corporation effectuates the proposed action, it must send a new dissenters' notice under § 48-23-203 and repeat the payment demand procedure.","path":["TN Code","Title 48","Chapter 23"],"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":"eaffca9e9de3e0375a21cec7800e2d9b4f7dd350606b9daae54cf960065f947b","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-48-23-206","next":"us-tn/tenn.-code-ann.-48-23-208"},"notice":"GroundRules: Original legal text. Not legal advice."}