Tennessee § 48-28-109 Applicability of chapter as to business corporations that are not for-profit benefit corporations

Tennessee Statutes

§ 48-28-109 — Applicability of chapter as to business corporations that are not for-profit benefit corporations

Tennessee § 48-28-109

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This text of Tennessee § 48-28-109 (Applicability of chapter as to business corporations that are not for-profit benefit corporations) 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. § 48-28-109 (2026).

Text

This chapter shall not affect a statute or other rule of law applicable to a domestic business corporation that is not a for-profit benefit corporation, except as provided in § 48-28-104 . Specifically, no implication is made by, and no inference may be drawn from, the enactment of this chapter as to whether, in exercising their duties, the officers or directors of a domestic business corporation that is not a for-profit benefit corporation may consider the impact of the corporation's transactions or other conduct on:

(1)The interests of those materially affected by the corporation's conduct, including the pecuniary interests of shareholders; or (2) Any public benefit or public benefits identified in its charter.

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This chapter shall not affect a statute or other rule of law applicable to a domestic business corporation that is not a for-profit benefit corporation, except as provided in § 48-28-104 . Specifically, no implication is made by, and no inference may be drawn from, the enactment of this chapter as to whether, in exercising their duties, the officers or directors of a domestic business corporation that is not a for-profit benefit corporation may consider the impact of the corporation's transactions or other conduct on: (1) The interests of those materially affected by the corporation's conduct, including the pecuniary interests of shareholders; or (2) Any public benefit or public benefits identified in its charter.