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§ 13-30-107. Corporate authority to create land bank for real property -- Compliance with state law, ethical standards, and open records provisions.

TN Code § 13-30-107 (2019) (N/A)
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(a) The corporation, once created, shall have the authority to create a land bank for real property located within the boundaries of the creating local government or local governments.

(b) No rules or bylaws created by the corporation may contravene state law.

(c) All board members, appointees, employees and/or paid advisors of the corporation created, appointed or employed, with or without pay, pursuant to this chapter are subject to title 8, chapter 17, and may not be exempted on the basis of any corporate board governance rules or bylaws.

(d) All meetings of the board of directors of the corporation and/or its employees are subject to title 8, chapter 44, and may not be exempted on the basis of the corporate board governance rules or bylaws.

(e) All corporate records are subject to §§ 10-7-503 — 10-7-505, and may not be exempted on the basis of any corporate board governance rules or bylaws.

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§ 13-30-106. Quorum for transaction of business -- Officers -- Rules and regulations -- Removal of board members -- Compensation -- Meetings -- Majority approval for actions of the board -- No proxy voting.
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§ 13-30-108. Contracts and agreements.