§ 29-35-102 — Corporate officers - Trustees

The action also lies against the directors, managers, and officers of a corporation, or the trustees of funds given for a public or charitable purpose: (1) To bring them to an account for the management and disposition of property entrusted to their care; (2) To remove such officers or trustees on proof of misconduct; (3) To prevent malversation, peculation, and waste; (4) To set aside and restrain improper alienations of such property or funds, and to secure them for the benefit of those interested; and (5) Generally to compel faithful performance of duty.

Legislative History

Code 1858, § 3410 (deriv. Acts 1845-1846, ch. 55, § 8); Shan., §5166; Code 1932, § 9337; T.C.A. (orig. ed.), § 23-2802.