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2020 Tennessee Code
Title 59 - Mines and Mining
Chapter 13 - Coal Cooperative Marketing Associations
§ 59-13-117. Contracts and Positions of Directors — Prohibitions
Universal Citation: TN Code § 59-13-117 (2020)
No director, during the term of the director's office, shall be a party to a contract for profit with the association differing in any way from the business relations accorded regular members or holders of common stock of the association or others, or differing from terms generally current in that district. The bylaws may provide that no director shall occupy any position in the association, except the president and secretary on regular salary or substantially full-time pay.
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