Tennessee Statutes
§ 43-16-118 — Directors not to be interested in contracts for profit - Directors occupying positions in association
Tennessee § 43-16-118
JurisdictionTennessee
Title43
This text of Tennessee § 43-16-118 (Directors not to be interested in contracts for profit - Directors occupying positions in association) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Tenn. Code Ann. § 43-16-118 (2026).
Text
No director, during that director's term of office, shall be a party to a contract for profit with the association differing in any way from the business relations accorded regular members or holders of common stock of the association or others, or differing from terms generally current in that district. The bylaws may provide that no director shall occupy any position in the association, except the president and secretary, on regular salary or substantially full-time pay.
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Legislative History
Acts 1923, ch. 100, § 12; Shan. Supp., § 2534a42; Code 1932, §3800; T.C.A. (orig. ed.), § 43-1818.
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Terms of membersCite This Page — Counsel Stack
Bluebook (online)
Tennessee § 43-16-118, Counsel Stack Legal Research, https://law.counselstack.com/statute/tn/43-16-118.