Tennessee § 48-18-507 Indemnification of officers, employees, and agents

Tennessee Statutes

§ 48-18-507 — Indemnification of officers, employees, and agents

Tennessee § 48-18-507

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This text of Tennessee § 48-18-507 (Indemnification of officers, employees, and agents) 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. § 48-18-507 (2026).

Text

Unless a corporation's charter provides otherwise:

(1)An officer of the corporation who is not a director is entitled to mandatory indemnification under § 48-18-503 , and is entitled to apply for court-ordered indemnification under § 48-18-505 , in each case to the same extent as a director;

(2)The corporation may indemnify and advance expenses under this part to an officer, employee, or agent of the corporation who is not a director to the same extent as to a director; and (3) A corporation may also indemnify and advance expenses to an officer, employee, or agent who is not a director to the extent, consistent with public policy, that may be provided by its charter, bylaws, general or specific action of its board of directors, or contract.

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Unless a corporation's charter provides otherwise: (1) An officer of the corporation who is not a director is entitled to mandatory indemnification under § 48-18-503 , and is entitled to apply for court-ordered indemnification under § 48-18-505 , in each case to the same extent as a director; (2) The corporation may indemnify and advance expenses under this part to an officer, employee, or agent of the corporation who is not a director to the same extent as to a director; and (3) A corporation may also indemnify and advance expenses to an officer, employee, or agent who is not a director to the extent, consistent with public policy, that may be provided by its charter, bylaws, general or specific action of its board of directors, or contract.