Tennessee Statutes
§ 48-58-405 — Contract rights of officers - Removal
Tennessee·Title 48
(a)The appointment of an officer does not itself create contract rights.
(b)An officer's removal does not affect the officer's contract rights, if any, with the corporation. An officer's resignation does not affect the corporation's contract rights, if any, with the officer.
(c)Except as provided in the charter or bylaws, an officer may be removed at any time with or without cause by the appointing officer unless the board provides otherwise. In this section, "appointing officer" means the officer (including any successor to that officer) who appointed the officer resigning or being removed.
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Legislative History
Amended by 2014 Tenn. Acts, ch. 899,s 43, eff. 1/1/2015. Acts 1987, ch. 242, § 8.44.
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
Administration