Tennessee Code 12-4-102 – Penalty for unlawful interest
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Terms Used In Tennessee Code 12-4-102
- Contract: A legal written agreement that becomes binding when signed.
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
Should any person, acting as such officer, committee member, director, or other person referred to in § 12-4-101, be or become directly or unlawfully indirectly interested in any such contract, such person shall forfeit all pay and compensation therefor. Such officer shall be dismissed from such office the officer then occupies, and be ineligible for the same or a similar position for ten (10) years.