It does what you want, I think ...
If you do not need to save it, just work with "bm" after creating DrawImage, that is, your image as a bitmap ...
Bitmap bm = (Bitmap)System.Drawing.Image.FromFile("TifFilePath.tif", true);
Bitmap tmp = new Bitmap(bm.Width, bm.Height);
Graphics grPhoto = Graphics.FromImage(tmp);
grPhoto.DrawImage(bm, new Rectangle(0, 0, tmp.Width, tmp.Height), 0, 0, tmp.Width, tmp.Height, GraphicsUnit.Pixel);
bm.Save("JPGFilePath.jpg", System.Drawing.Imaging.ImageFormat.Jpeg);
grPhoto.Dispose();
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