Tenn. Code Ann. § 12-4-102: Penalty for unlawful interest

Should any person, acting as such officer, committee member, director, or other person referred to in § 12-4-101 , be or become directly or unlawfully indirectly interested in any such contract, such person shall forfeit all pay and compensation therefor. Such officer shall be dismissed from such office the officer then occupies, and be ineligible for the same or a similar position for ten (10) years.