Senate Bill 1650 amends Tennessee Code Annotated, Section 48-102-202, to clarify the legal framework surrounding the acquisition and management of property by masonic lodges and their sponsored entities. The bill allows officers and members of a masonic lodge, or a masonic lodge-sponsored corporation or limited liability company, to acquire real and personal property through purchase or gift for purposes such as building or maintaining a lodge, hall, temple, or burial place. It specifies that the legal title to such property must be vested in the officers or members of the lodge or the designated corporation or limited liability company.

Additionally, the bill permits masonic lodge-sponsored corporations or limited liability companies to rent or lease property to masonic lodges or other entities under terms they designate. It also clarifies that the new provisions do not affect any property conveyances that occurred prior to the act's effective date. The definition of a "masonic lodge-sponsored corporation or limited liability company" is provided, emphasizing that it must be organized by the lodge's officers or members and operate through authorized individuals. The act will take effect upon becoming law.

Statutes affected:
Introduced: 48-102-202