Required contents of bylaws for designation as neighborhood preservation nonprofit corporation.
Tenn. Code Ann. § 48-101-904
in effect48-101-904. Required contents of bylaws for designation as neighborhood preservation nonprofit corporation.
In order to qualify for the designation as a neighborhood preservation nonprofit corporation under this part, a corporation shall first include in its bylaws:
(1) That all members shall be owners of real property located within the area designated in the plat described in § 48-101-903(c);
(2) That decisions of the corporation involving the protection or preservation of real property within the area designated in the plat described in § 48-101-903(c) shall be made by a two-thirds (2/3) vote of its members;
(3) That each member shall pay a minimum monthly amount in dues of twenty-five dollars ($25.00) to the corporation and agree, prior to membership, to pay any outstanding dues prior to selling the member's real property located within the area designated in the plat described in § 48-101-903(c);
(4) That all assets of the corporation, minus those needed for administrative purposes, shall be applied towards preserving and protecting the real property designated in the plat described in § 48-101-903(c);
(5) That an itemized financial accounting of assets used for administrative purposes shall be made available to members upon request; and
(6) That copies of the bylaws shall be provided to members upon becoming members and at any time that the bylaws are changed.
Acts 2014, ch. 963, § 1.
Source: Tennessee Code (state release 76 via Public.Resource.Org) + public chapters (Tennessee Secretary of State)URL: https://archive.org/download/gov.tn.tca/release76.2021.05.21/gov.tn.tca.title.48.htmlFetched: 10/24/2026