{"data":{"id":"us-tn/tenn.-code-ann.-43-16-118","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 43-16-118","heading":"Directors not to be interested in contracts for profit - Directors occupying positions in association","body":"No director, during that director's term of office, shall be a party to a contract for profit with the association differing in any way from the business relations accorded regular members or holders of common stock of the association or others, or differing from terms generally current in that district. The bylaws may provide that no director shall occupy any position in the association, except the president and secretary, on regular salary or substantially full-time pay.","path":["TN Code","Title 43","Chapter 16"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_tn_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:26Z","sha256":"b2a54327ac09e515f7d71bdabb65ec4bc6de7f5f4a74d11d5c669d819929864c","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-43-16-117","next":"us-tn/tenn.-code-ann.-43-16-119"},"notice":"GroundRules: Original legal text. Not legal advice."}