Corporate Officers — Trustees

  1. Law
  2. Tennessee Code
  3. Remedies and Special Proceedings
  4. Usurpation or Forfeiture of Office or Franchise — Corporate Misdeeds
  5. Corporate Officers — Trustees

Checkout our iOS App for a better way to browser and research.

The action also lies against the directors, managers, and officers of a corporation, or the trustees of funds given for a public or charitable purpose:

  1. To bring them to an account for the management and disposition of property entrusted to their care;
  2. To remove such officers or trustees on proof of misconduct;
  3. To prevent malversation, peculation, and waste;
  4. To set aside and restrain improper alienations of such property or funds, and to secure them for the benefit of those interested; and
  5. Generally to compel faithful performance of duty.

Code 1858, § 3410 (deriv. Acts 1845-1846, ch. 55, § 8); Shan., § 5166; Code 1932, § 9337; T.C.A. (orig. ed.), § 23-2802.

Textbooks. Gibson's Suits in Chancery (7th ed., Inman), § 506.

Pritchard on Wills and Administration of Estates (4th ed., Phillips and Robinson), § 189.

Tennessee Jurisprudence, 6 Tenn. Juris., Charities, §§ 16, 19, 22; 15 Tenn. Juris., Injunctions, § 16; 21 Tenn. Juris., Quo Warranto, §§ 2, 3; 24 Tenn. Juris., Trusts and Trustees, § 61.

Law Reviews.

Conversions of Nonprofit Hospitals to For-Profit Status: The Tennessee Experience (Shannon McGhee Hernandez), 28 U. Mem. L. Rev. 1077 (1998).

Survey of Tennessee Property Law, V. Trusts (Beverly A. Rowlett), 48 Tenn. L. Rev. 95 (1980).

Cited: Munsey v. Russell Bros., 31 Tenn. App. 187, 213 S.W.2d 286, 1948 Tenn. App. LEXIS 82 (Tenn. Ct. App. 1948); State ex rel. Jones v. Burnett, 760 S.W.2d 629, 1988 Tenn. LEXIS 206 (Tenn. 1988).


Download our app to see the most-to-date content.