Tennessee Code 43-16-130 – Removal of officers or directors
Terms Used In Tennessee Code 43-16-130
- Association: means any corporation organized under this chapter. See Tennessee Code 43-16-103
- Member: includes actual members of associations without capital stock, and holders of common stock in associations organized with capital stock. See Tennessee Code 43-16-103
- Person: includes an individual, firm, partnership, corporation, and association. See Tennessee Code 43-16-103
- signed: includes a mark, the name being written near the mark and witnessed, or any other symbol or methodology executed or adopted by a party with intention to authenticate a writing or record, regardless of being witnessed. See Tennessee Code 1-3-105
Any member may bring charges against an officer or director by filing them in writing with the secretary of the association, together with a petition signed by five percent (5%) of the members, requesting the removal of the officer or director in question. The removal shall be voted upon at the next regular or special meeting of the association and, by a vote of a majority of the members, the association may remove the officer or director, and fill the vacancy. The officer or director against whom the charges have been brought shall be informed in writing of the charges previous to the meeting and shall have an opportunity at the meeting to be heard in person or by counsel and to present witnesses; and the person or persons bringing the charges against the officer or director shall have the same opportunity.