Tennessee Statutes
§ 48-18-503 — Mandatory indemnification
Tennessee § 48-18-503
JurisdictionTennessee
Title48
This text of Tennessee § 48-18-503 (Mandatory indemnification) 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. § 48-18-503 (2026).
Text
Unless limited by its charter, a corporation shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which the director was a party because the director is or was a director of the corporation against reasonable expenses incurred by the director in connection with the proceeding.
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Related
Sherman v. American Water Heater Co., Inc.
50 S.W.3d 455 (Court of Appeals of Tennessee, 2001)
Jonathan King v. Dean Chase
(Court of Appeals of Tennessee, 2021)
Legislative History
Acts 1986, ch. 887, § 8.52.
Nearby Sections
15
§ 48-1-101
Short title§ 48-1-102
Part definitions§ 48-1-103
Exemptions§ 48-1-105
Registration by coordination§ 48-1-106
Registration by qualification§ 48-1-109
Registration as broker-dealers, agents, investment advisers, and investment adviser representatives§ 48-1-111
Records and reports - Examinations§ 48-1-115
AdministrationCite This Page — Counsel Stack
Bluebook (online)
Tennessee § 48-18-503, Counsel Stack Legal Research, https://law.counselstack.com/statute/tn/48-18-503.