Terms Used In Tennessee Code 43-38-702

  • board of directors: means the board of directors of a cooperative. See Tennessee Code 43-38-103
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • 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

A complaint in a proceeding brought in the name of a cooperative must allege with particularity the demand made, if any, to obtain action by the board of directors or officers, and either that the demand was refused or ignored, or why the member did not make a demand.