Section 29-35-101 - Grounds for actionAn action lies in the name of the state against the person or corporation offending, in the following cases:
(1) Whenever any person unlawfully holds or exercises any public office or franchise within this state, or any office in any corporation created by the laws of this state;(2) Whenever any public officer has done, or suffered to be done, any act which works a forfeiture of that officer's office;(3) When any person acts as a corporation within this state, without being authorized by law; or(4) If, being incorporated, they: (A) Do or omit acts which amount to a surrender or forfeiture of their rights and privileges as a corporation;(B) Exercise powers not conferred by law; or(C) Fail to exercise powers conferred by law and essential to the corporate existence.Code 1858, § 3409 (deriv. Acts 1845-1846, ch. 55, § 5); Shan., §5165; Code 1932, § 9336; T.C.A. (orig. ed.), § 23-2801.