Tennessee Code 56-16-119 – Service on board of directors by persons who perform legal or professional service
Current as of: 2023 | Check for updates
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Terms Used In Tennessee Code 56-16-119
- Person: means any association, aggregate of individuals, business, company, corporation, individual, joint-stock company, Lloyds-type organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Tennessee Code 56-16-102
- Reciprocal: means the aggregation of subscribers under a common name. See Tennessee Code 56-16-102
Section 56-3-103 shall not bar a person who performs legal or other professional services for a reciprocal from serving as a member of the board of directors, or committee of the board, or as an officer of the reciprocal because the person receives payment for legal or other professional services rendered to the reciprocal.