Tennessee § 48-18-507 - Indemnification of officers, employees, and agents.

§ 48-18-507. Indemnification of officers, employees, and agents.

Unless a corporation's charter provides otherwise: An officer of the corporation who is not a director is entitled to mandatory indemnification under § 48-18-503, and is entitled to apply for court-ordered indemnification under § 48-18-505, in each case to the same extent as a director; The corporation may indemnify and advance expenses under this part to an officer, employee, or agent of the corporation who is not a director to the same extent as to a director; and A corporation may also indemnify and advance expenses to an officer, employee, or agent who is not a director to the extent, consistent with public policy, that may be provided by its charter, bylaws, general or specific action of its board of directors, or contract. Acts 1986, ch. 887, § 8.56.