Tennessee Code 13-30-114 – Conflicts of interest
Current as of: 2024 | Check for updates
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Terms Used In Tennessee Code 13-30-114
- board: means the board of directors or other similar governing body of the corporation. See Tennessee Code 13-30-103
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means a corporation created pursuant to this chapter to operate a land bank. See Tennessee Code 13-30-103
No member of the board or employee of a corporation shall acquire any interest, direct or indirect, in real property acquired or held by the corporation. No member of the board or employee of the corporation shall have any interest, direct or indirect, in any contract or proposed contract for materials or services to be furnished or used by the corporation. The board may adopt supplemental rules and regulations addressing potential conflicts of interest and ethical guidelines for members of the board and employees of the board or corporation.