Tennessee Code 43-38-121 – Indemnification
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Terms Used In Tennessee Code 43-38-121
- Bylaws: means a written agreement described in §. See Tennessee Code 43-38-103
- Cooperative: means an association organized under this title conducting business on a cooperative plan as provided under this chapter. See Tennessee Code 43-38-103
- Member: means a person or entity reflected on the books of the cooperative as the owner of governance rights of a membership interest of the cooperative and includes patron and nonpatron members. See Tennessee Code 43-38-103
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
Subject to such standards and restrictions, if any, as are set forth in its articles or bylaws, a cooperative may, and shall have the power to, indemnify and hold harmless any member or officer or other person from and against any and all claims and demands whatsoever.