Indemnification of Officers, Employees, and Agents

  1. Law
  2. Tennessee Code
  3. Securities, Corporations and Associations
  4. Directors and Officers
  5. Indemnification
  6. Indemnification of Officers, Employees, and Agents

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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.


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