A corporation, subject to this chapter, may issue contracts only when the department has, by formal license, authorized it to do so.Acts 1949, ch. 234, § 5; C. Supp. 1950, § 4186.47 (Williams, § 4186.50); impl. am. Acts 1971, ch. 137, § 1; T.C.A. (orig. ed.), § 56-3106.
Tennessee Legal Code