§ 45-3-1309. Director acting to detriment of association.

TN Code § 45-3-1309 (2019) (N/A)
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(1) Place the association in an impaired condition;

(2) Cause the association to pay dividends on its outstanding capital stock in violation of law;

(3) Cause a reduction of the capital stock of an association in violation of law;

(4) Cause the association to receive or discount any note or other evidence of debt in payment of capital stock required to be paid; or

(5) Apply any of the funds of the association, except as permitted by law, directly or indirectly, to the purchase of shares of its own capital stock.