{"data":{"id":"us-tn/tenn.-code-ann.-48-68-104","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 48-68-104","heading":"Public benefit and mutual benefit corporations","body":"On January 1, 1988, each domestic corporation existing on January 1, 1988, that is or becomes subject to chapters 51-68 of this title, shall be designated as a public benefit or a mutual benefit corporation as follows:\n(1) Any corporation designated by statute as a public benefit corporation or a mutual benefit corporation is the type of corporation designated by statute;\n(2) Any corporation which does not come within subdivision (1) but which is recognized as exempt under § 501(c)(3) of the Internal Revenue Code ( 26 U.S.C. § 501(c)(3) ), or any successor section, is a public benefit corporation;\n(3) Any corporation which does not come within subdivision (1) or (2), but which is organized for a public or charitable purpose and which upon dissolution must distribute its assets to the United States, a state or a person which is recognized as exempt under § 501(c)(3) of the Internal Revenue Code, or any successor section, is a public benefit corporation; and\n(4) Any corporation which does not come within subdivision (1), (2) or (3) is a mutual benefit corporation.","path":["TN Code","Title 48","Chapter 68"],"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":"dcfd2544f488d365fe2e2830b4303624edc89f6df35d8917e741bb15a8333c84","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-48-68-103","next":"us-tn/tenn.-code-ann.-48-68-105"},"notice":"GroundRules: Original legal text. Not legal advice."}