2020 Tennessee Code
Title 29 - Remedies and Special Proceedings
Chapter 35 - Usurpation or Forfeiture of Office or Franchise — Corporate Misdeeds
§ 29-35-102. Corporate Officers — Trustees
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:
- To bring them to an account for the management and disposition of property entrusted to their care;
- To remove such officers or trustees on proof of misconduct;
- To prevent malversation, peculation, and waste;
- To set aside and restrain improper alienations of such property or funds, and to secure them for the benefit of those interested; and
- 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).
