Nonprofit Fair Asset Protection

  1. Law
  2. Tennessee Code
  3. Securities, Corporations and Associations
  4. Purposes and Powers
  5. Nonprofit Fair Asset Protection Act
  6. Nonprofit Fair Asset Protection

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Notwithstanding any provision of law to the contrary, it is unlawful for:

  1. A national nonprofit corporation that has received a charter under 36 U.S.C. Subt. II, Pt. B, to terminate, revoke, suspend, or fail to renew a license or charter affiliating a Tennessee nonprofit corporation with the national nonprofit corporation absent good cause;
  2. A national nonprofit corporation that has received a charter under 36 U.S.C. Subt. II, Pt. B, to discriminate against a licensed or chartered affiliated Tennessee nonprofit corporation by imposing requirements not imposed on other similarly situated affiliates of the national nonprofit corporation; or
  3. A national nonprofit corporation that has received a charter under 36 U.S.C. Subt. II, Pt. B, to act indirectly to accomplish what would be otherwise prohibited under this part.


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