There is a newer version of the Tennessee Code
2010 Tennessee Code
Title 48 - Corporations And Associations
Chapter 18 - Directors and Officers
Part 5 - Indemnification
48-18-503 - Mandatory indemnification.
48-18-503. Mandatory indemnification.
Unless limited by its charter, a corporation shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which the director was a party because the director is or was a director of the corporation against reasonable expenses incurred by the director in connection with the proceeding.
[Acts 1986, ch. 887, § 8.52.]
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