Applicability of Chapter as to Business Corporations That Are Not For-Profit Benefit Corporations

  1. Law
  2. Tennessee Code
  3. Securities, Corporations and Associations
  4. For-Profit Benefit Corporation Act
  5. Applicability of Chapter as to Business Corporations That Are Not For-Profit Benefit Corporations

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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.


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