Tenn. Code Ann. § 47-2a-103 — TN Code / Title 47 / Chapter 2a / Section 47-2a-103
2024 Tennessee Code Title 47 - COMMERCIAL INSTRUMENTS AND TRANSACTIONS (§§ 47-1-101 — 47-50-121) Chapter 2A - LEASES (§§ 47-2A-101 — 47-2A-532) Part 1 - GENERAL PROVISIONS (§§ 47-2A-101 — 47-2A-111) Section 47-2A-103 - Definitions and index of definitions
Status: in_force

(1) In this chapter unless the context otherwise requires: (a) "Buyer in ordinary course of business" means a person who in good faith and without knowledge that the sale to him or her is in violation of the ownership rights or security interest or leasehold interest of a third party in the goods buys in ordinary course from a person in the business of selling goods of that kind but does not include a pawnbroker. "Buying" may be for cash or by exchange of other property or on secured or unsecured credit and includes acquiring goods or documents of title under a preexisting contract for sale but does not include a transfer in bulk or as security for or in total or partial satisfaction of a money debt; (b) "Cancellation" occurs when either party puts an end to the lease contract for default by the other party; (c) "Commercial unit" means such a unit of goods as by commercial usage is a single whole for purposes of lease and division of which materially impairs its character or value on the market or in use. A commercial unit may be a single article, as a machine, or a set of articles, as a suite of furniture or a line of machinery, or a quantity, as a gross or carload, or any other unit treated in use or in the relevant market as a single whole; (d) "Conforming" goods or performance under a lease contract means goods or performance that are in accordance with the obligations under the lease contract; (e) "Consumer lease" means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is an individual and who takes under the lease primarily for a personal, family, or household purpose, if the total payments to be made under the lease contract, excluding payments for options to renew or buy, do not exceed twenty-five thousand dollars ($25,000); (f) "Fault" means wrongful act, omission, breach, or default; (g) "Finance lease" means a lease with respect to which: (i) the lessor does not select, manufacture, or supply the goods; (ii) the lessor acquires the goods or the right to possession and use of the goods in connection with the lease; and (iii) one (1) of the following occurs: (A) the lessee receives a copy of the contract by which the lessor acquired the goods or the right to possession and use of the goods before signing the lease contract; (B) the lessee's approval of the contract by which the lessor acquired the goods or the right to possession and use of the goods is a condition to effectiveness of the lease contract; (C) the lessee, before signing the lease contract, receives an accurate and complete statement designating the promises and warranties, and any disclaimers of warranties, limitations or modifications of remedies, or liquidated damages, including those of a third party, such as the manufacturer of the goods, provided to the lessor by the person supplying the goods in connection with or as part of the contract by which the lessor acquired the goods or the right to possession and use of the goods; or (D) if the lease is not a consumer lease, the lessor, before the lessee signs the lease contract, informs the lessee in writing (a) of the identity of the person supplying the goods to the lessor, unless the lessee has selected that person and directed the lessor to acquire the goods or the right to possession and use of the goods from that person, (b) that the lessee is entitled under this chapter to the promises and warranties, including those of any third party, provided to the lessor by the person supplying the goods in connection with or as part of the contract by which the lessor acquired the goods or the right to possession and use of the goods, and (c) that the lessee may communicate with the person supplying the goods to the lessor and receive an accurate and complete statement of those promises and warranties, including any disclaimers and limitations of them or of remedies; (h) "Goods" means all things that are movable at the time of identification to the lease contract, or are fixtures (§ 47-2A-309 ), but the term does not include money, documents, instruments, accounts, chattel paper, general intangibles, or minerals or the like, including oil and gas, before extraction. The term also includes the unborn young of animals; (i) "Installment lease contract" means a lease contract that authorizes or requires the delivery of goods in separate lots to be separately accepted, even though the lease contract contains a clause "each delivery is a separate lease" or its equivalent; (j) "Lease" means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. Unless the context clearly indicates otherwise, the term includes a sublease; (k) "Lease agreement" means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this chapter. Unless the context clearly indicates otherwise, the term includes a sublease agreement; (l) "Lease contract" means the total legal obligation that results from the lease agreement as affected by this chapter and any other applicable rules of law. Unless the context clearly indicates otherwise, the term includes a sublease contract; (m) "Leasehold interest" means the interest of the lessor or the lessee under a lease contract; (n) "Lessee" means a person who acquires the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessee; (o) "Lessee in ordinary course of business" means a person who in good faith and without knowledge that the lease to him or her is in violation of the ownership rights or security interest or leasehold interest of a third party in the goods, leases in ordinary course from a person in the business of selling or leasing goods of that kind but does not include a pawnbroker. "Leasing" may be for cash or by exchange of other property or on secured or unsecured credit and includes acquiring goods or documents of title under a pre-existing lease contract but does not include a transfer in bulk or as security for or in total or partial satisfaction of a money debt; (p) "Lessor" means a person who transfers the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessor; (q) "Lessor's residual interest" means the lessor's interest in the goods after expiration, termination, or cancellation of the lease contract; (r) "Lien" means a charge against or interest in goods to secure payment of a debt or performance of an obligation, but the term does not include a security interest; (s) "Lot" means a parcel or a single article that is the subject matter of a separate lease or delivery, whether or not it is sufficient to perform the lease contract; (t) "Merchant lessee" means a lessee that is a merchant with respect to goods of the kind subject to the lease; (u) "Present value" means the amount as of a date certain of one (1) or more sums payable in the future, discounted to the date certain. The discount is determined by the interest rate specified by the parties if the rate was not manifestly unreasonable at the time the transaction was entered into; otherwise, the discount is determined by a commercially reasonable rate that takes into account the facts and circumstances of each case at the time the transaction was entered into; (v) "Purchase" includes taking by sale, lease, mortgage, security interest, pledge, gift, or any other voluntary transaction creating an interest in goods; (w) "Sublease" means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease; (x) "Supplier" means a person from whom a lessor buys or leases goods to be leased under a finance lease; (y) "Supply contract" means a contract under which a lessor buys or leases goods to be leased; and (z) "Termination" occurs when either party pursuant to a power created by agreement or law puts an end to the lease contract otherwise than for default. (2) Other definitions applying to this chapter and the sections in which they appear are: "Accessions." § 47-2A-310(1) ; "Construction mortgage." § 47-2A-309(1)(d) ; "Encumbrance." § 47-2A-309(1)(e) ; "Fixtures." § 47-2A-309(1)(a) ; "Fixture filing." § 47-2A-309(1)(b) ; and "Purchase money lease." § 47-2A-309(1)(c) . (3) The following definitions in other chapters apply to this chapter: "Account." § 47-9-102(a)(2) ; "Between merchants." § 47-2-104(3) ; "Buyer." § 47-2-103(1)(a) ; "Chattel paper." § 47-9-102(a)(11) ; "Consumer goods." § 47-9-102(a)(23) ; "Document." § 47-9-102(a)(30) ; "Entrusting." § 47-2-403(3) ; "General intangible." § 47-9-102(a)(42) ; "Good faith." § 47-2-103(1)(b) ; "Instrument." § 47-9-102(a)(47) ; "Merchant." § 47-2-104(1) ; "Mortgage." § 47-9-102(a)(55) ; "Pursuant to commitment." § 47-9-102(a)(69) ; "Receipt." § 47-2-103(1)(c) ; "Sale." § 47-2-106(1) ; "Sale on approval." § 47-2-326 ; "Sale or return." § 47-2-326 ; and "Seller." § 47-2-103(1)(d) . (4) In addition chapter 1 contains general definitions and principles of construction and interpretation applicable throughout this chapter. Acts 1993, ch. 398, § 1; 1994, ch. 724, § 4; 2000, ch. 846, § 9; 2008, ch. 814, §§ 16, 17; 2012, ch. 708, § 2.
(1) In this chapter unless the context otherwise requires: (a) "Buyer in ordinary course of business" means a person who in good faith and without knowledge that the sale to him or her is in violation of the ownership rights or security interest or leasehold interest of a third party in the goods buys in ordinary course from a person in the business of selling goods of that kind but does not include a pawnbroker. "Buying" may be for cash or by exchange of other property or on secured or unsecured credit and includes acquiring goods or documents of title under a preexisting contract for sale but does not include a transfer in bulk or as security for or in total or partial satisfaction of a money debt; (b) "Cancellation" occurs when either party puts an end to the lease contract for default by the other party; (c) "Commercial unit" means such a unit of goods as by commercial usage is a single whole for purposes of lease and division of which materially impairs its character or value on the market or in use. A commercial unit may be a single article, as a machine, or a set of articles, as a suite of furniture or a line of machinery, or a quantity, as a gross or carload, or any other unit treated in use or in the relevant market as a single whole; (d) "Conforming" goods or performance under a lease contract means goods or performance that are in accordance with the obligations under the lease contract; (e) "Consumer lease" means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is an individual and who takes under the lease primarily for a personal, family, or household purpose, if the total payments to be made under the lease contract, excluding payments for options to renew or buy, do not exceed twenty-five thousand dollars ($25,000); (f) "Fault" means wrongful act, omission, breach, or default; (g) "Finance lease" means a lease with respect to which: (i) the lessor does not select, manufacture, or supply the goods; (ii) the lessor acquires the goods or the right to possession and use of the goods in connection with the lease; and (iii) one (1) of the following occurs: (A) the lessee receives a copy of the contract by which the lessor acquired the goods or the right to possession and use of the goods before signing the lease contract; (B) the lessee's approval of the contract by which the lessor acquired the goods or the right to possession and use of the goods is a condition to effectiveness of the lease contract; (C) the lessee, before signing the lease contract, receives an accurate and complete statement designating the promises and warranties, and any disclaimers of warranties, limitations or modifications of remedies, or liquidated damages, including those of a third party, such as the manufacturer of the goods, provided to the lessor by the person supplying the goods in connection with or as part of the contract by which the lessor acquired the goods or the right to possession and use of the goods; or (D) if the lease is not a consumer lease, the lessor, before the lessee signs the lease contract, informs the lessee in writing (a) of the identity of the person supplying the goods to the lessor, unless the lessee has selected that person and directed the lessor to acquire the goods or the right to possession and use of the goods from that person, (b) that the lessee is entitled under this chapter to the promises and warranties, including those of any third party, provided to the lessor by the person supplying the goods in connection with or as part of the contract by which the lessor acquired the goods or the right to possession and use of the goods, and (c) that the lessee may communicate with the person supplying the goods to the lessor and receive an accurate and complete statement of those promises and warranties, including any disclaimers and limitations of them or of remedies; (h) "Goods" means all things that are movable at the time of identification to the lease contract, or are fixtures (§ 47-2A-309 ), but the term does not include money, documents, instruments, accounts, chattel paper, general intangibles, or minerals or the like, including oil and gas, before extraction. The term also includes the unborn young of animals; (i) "Installment lease contract" means a lease contract that authorizes or requires the delivery of goods in separate lots to be separately accepted, even though the lease contract contains a clause "each delivery is a separate lease" or its equivalent; (j) "Lease" means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. Unless the context clearly indicates otherwise, the term includes a sublease; (k) "Lease agreement" means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this chapter. Unless the context clearly indicates otherwise, the term includes a sublease agreement; (l) "Lease contract" means the total legal obligation that results from the lease agreement as affected by this chapter and any other applicable rules of law. Unless the context clearly indicates otherwise, the term includes a sublease contract; (m) "Leasehold interest" means the interest of the lessor or the lessee under a lease contract; (n) "Lessee" means a person who acquires the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessee; (o) "Lessee in ordinary course of business" means a person who in good faith and without knowledge that the lease to him or her is in violation of the ownership rights or security interest or leasehold interest of a third party in the goods, leases in ordinary course from a person in the business of selling or leasing goods of that kind but does not include a pawnbroker. "Leasing" may be for cash or by exchange of other property or on secured or unsecured credit and includes acquiring goods or documents of title under a pre-existing lease contract but does not include a transfer in bulk or as security for or in total or partial satisfaction of a money debt; (p) "Lessor" means a person who transfers the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessor; (q) "Lessor's residual interest" means the lessor's interest in the goods after expiration, termination, or cancellation of the lease contract; (r) "Lien" means a charge against or interest in goods to secure payment of a debt or performance of an obligation, but the term does not include a security interest; (s) "Lot" means a parcel or a single article that is the subject matter of a separate lease or delivery, whether or not it is sufficient to perform the lease contract; (t) "Merchant lessee" means a lessee that is a merchant with respect to goods of the kind subject to the lease; (u) "Present value" means the amount as of a date certain of one (1) or more sums payable in the future, discounted to the date certain. The discount is determined by the interest rate specified by the parties if the rate was not manifestly unreasonable at the time the transaction was entered into; otherwise, the discount is determined by a commercially reasonable rate that takes into account the facts and circumstances of each case at the time the transaction was entered into; (v) "Purchase" includes taking by sale, lease, mortgage, security interest, pledge, gift, or any other voluntary transaction creating an interest in goods; (w) "Sublease" means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease; (x) "Supplier" means a person from whom a lessor buys or leases goods to be leased under a finance lease; (y) "Supply contract" means a contract under which a lessor buys or leases goods to be leased; and (z) "Termination" occurs when either party pursuant to a power created by agreement or law puts an end to the lease contract otherwise than for default.
(a) "Buyer in ordinary course of business" means a person who in good faith and without knowledge that the sale to him or her is in violation of the ownership rights or security interest or leasehold interest of a third party in the goods buys in ordinary course from a person in the business of selling goods of that kind but does not include a pawnbroker. "Buying" may be for cash or by exchange of other property or on secured or unsecured credit and includes acquiring goods or documents of title under a preexisting contract for sale but does not include a transfer in bulk or as security for or in total or partial satisfaction of a money debt;
(b) "Cancellation" occurs when either party puts an end to the lease contract for default by the other party;
(c) "Commercial unit" means such a unit of goods as by commercial usage is a single whole for purposes of lease and division of which materially impairs its character or value on the market or in use. A commercial unit may be a single article, as a machine, or a set of articles, as a suite of furniture or a line of machinery, or a quantity, as a gross or carload, or any other unit treated in use or in the relevant market as a single whole;
(d) "Conforming" goods or performance under a lease contract means goods or performance that are in accordance with the obligations under the lease contract;
(e) "Consumer lease" means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is an individual and who takes under the lease primarily for a personal, family, or household purpose, if the total payments to be made under the lease contract, excluding payments for options to renew or buy, do not exceed twenty-five thousand dollars ($25,000);
(f) "Fault" means wrongful act, omission, breach, or default;
(g) "Finance lease" means a lease with respect to which: (i) the lessor does not select, manufacture, or supply the goods; (ii) the lessor acquires the goods or the right to possession and use of the goods in connection with the lease; and (iii) one (1) of the following occurs: (A) the lessee receives a copy of the contract by which the lessor acquired the goods or the right to possession and use of the goods before signing the lease contract; (B) the lessee's approval of the contract by which the lessor acquired the goods or the right to possession and use of the goods is a condition to effectiveness of the lease contract; (C) the lessee, before signing the lease contract, receives an accurate and complete statement designating the promises and warranties, and any disclaimers of warranties, limitations or modifications of remedies, or liquidated damages, including those of a third party, such as the manufacturer of the goods, provided to the lessor by the person supplying the goods in connection with or as part of the contract by which the lessor acquired the goods or the right to possession and use of the goods; or (D) if the lease is not a consumer lease, the lessor, before the lessee signs the lease contract, informs the lessee in writing (a) of the identity of the person supplying the goods to the lessor, unless the lessee has selected that person and directed the lessor to acquire the goods or the right to possession and use of the goods from that person, (b) that the lessee is entitled under this chapter to the promises and warranties, including those of any third party, provided to the lessor by the person supplying the goods in connection with or as part of the contract by which the lessor acquired the goods or the right to possession and use of the goods, and (c) that the lessee may communicate with the person supplying the goods to the lessor and receive an accurate and complete statement of those promises and warranties, including any disclaimers and limitations of them or of remedies;
(i) the lessor does not select, manufacture, or supply the goods;
(ii) the lessor acquires the goods or the right to possession and use of the goods in connection with the lease; and
(iii) one (1) of the following occurs: (A) the lessee receives a copy of the contract by which the lessor acquired the goods or the right to possession and use of the goods before signing the lease contract; (B) the lessee's approval of the contract by which the lessor acquired the goods or the right to possession and use of the goods is a condition to effectiveness of the lease contract; (C) the lessee, before signing the lease contract, receives an accurate and complete statement designating the promises and warranties, and any disclaimers of warranties, limitations or modifications of remedies, or liquidated damages, including those of a third party, such as the manufacturer of the goods, provided to the lessor by the person supplying the goods in connection with or as part of the contract by which the lessor acquired the goods or the right to possession and use of the goods; or (D) if the lease is not a consumer lease, the lessor, before the lessee signs the lease contract, informs the lessee in writing (a) of the identity of the person supplying the goods to the lessor, unless the lessee has selected that person and directed the lessor to acquire the goods or the right to possession and use of the goods from that person, (b) that the lessee is entitled under this chapter to the promises and warranties, including those of any third party, provided to the lessor by the person supplying the goods in connection with or as part of the contract by which the lessor acquired the goods or the right to possession and use of the goods, and (c) that the lessee may communicate with the person supplying the goods to the lessor and receive an accurate and complete statement of those promises and warranties, including any disclaimers and limitations of them or of remedies;
(A) the lessee receives a copy of the contract by which the lessor acquired the goods or the right to possession and use of the goods before signing the lease contract;
(B) the lessee's approval of the contract by which the lessor acquired the goods or the right to possession and use of the goods is a condition to effectiveness of the lease contract;
(C) the lessee, before signing the lease contract, receives an accurate and complete statement designating the promises and warranties, and any disclaimers of warranties, limitations or modifications of remedies, or liquidated damages, including those of a third party, such as the manufacturer of the goods, provided to the lessor by the person supplying the goods in connection with or as part of the contract by which the lessor acquired the goods or the right to possession and use of the goods; or
(D) if the lease is not a consumer lease, the lessor, before the lessee signs the lease contract, informs the lessee in writing (a) of the identity of the person supplying the goods to the lessor, unless the lessee has selected that person and directed the lessor to acquire the goods or the right to possession and use of the goods from that person, (b) that the lessee is entitled under this chapter to the promises and warranties, including those of any third party, provided to the lessor by the person supplying the goods in connection with or as part of the contract by which the lessor acquired the goods or the right to possession and use of the goods, and (c) that the lessee may communicate with the person supplying the goods to the lessor and receive an accurate and complete statement of those promises and warranties, including any disclaimers and limitations of them or of remedies;
(h) "Goods" means all things that are movable at the time of identification to the lease contract, or are fixtures (§ 47-2A-309 ), but the term does not include money, documents, instruments, accounts, chattel paper, general intangibles, or minerals or the like, including oil and gas, before extraction. The term also includes the unborn young of animals;
(i) "Installment lease contract" means a lease contract that authorizes or requires the delivery of goods in separate lots to be separately accepted, even though the lease contract contains a clause "each delivery is a separate lease" or its equivalent;
(j) "Lease" means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. Unless the context clearly indicates otherwise, the term includes a sublease;
(k) "Lease agreement" means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this chapter. Unless the context clearly indicates otherwise, the term includes a sublease agreement;
(l) "Lease contract" means the total legal obligation that results from the lease agreement as affected by this chapter and any other applicable rules of law. Unless the context clearly indicates otherwise, the term includes a sublease contract;
(m) "Leasehold interest" means the interest of the lessor or the lessee under a lease contract;
(n) "Lessee" means a person who acquires the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessee;
(o) "Lessee in ordinary course of business" means a person who in good faith and without knowledge that the lease to him or her is in violation of the ownership rights or security interest or leasehold interest of a third party in the goods, leases in ordinary course from a person in the business of selling or leasing goods of that kind but does not include a pawnbroker. "Leasing" may be for cash or by exchange of other property or on secured or unsecured credit and includes acquiring goods or documents of title under a pre-existing lease contract but does not include a transfer in bulk or as security for or in total or partial satisfaction of a money debt;
(p) "Lessor" means a person who transfers the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessor;
(q) "Lessor's residual interest" means the lessor's interest in the goods after expiration, termination, or cancellation of the lease contract;
(r) "Lien" means a charge against or interest in goods to secure payment of a debt or performance of an obligation, but the term does not include a security interest;
(s) "Lot" means a parcel or a single article that is the subject matter of a separate lease or delivery, whether or not it is sufficient to perform the lease contract;
(t) "Merchant lessee" means a lessee that is a merchant with respect to goods of the kind subject to the lease;
(u) "Present value" means the amount as of a date certain of one (1) or more sums payable in the future, discounted to the date certain. The discount is determined by the interest rate specified by the parties if the rate was not manifestly unreasonable at the time the transaction was entered into; otherwise, the discount is determined by a commercially reasonable rate that takes into account the facts and circumstances of each case at the time the transaction was entered into;
(v) "Purchase" includes taking by sale, lease, mortgage, security interest, pledge, gift, or any other voluntary transaction creating an interest in goods;
(w) "Sublease" means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease;
(x) "Supplier" means a person from whom a lessor buys or leases goods to be leased under a finance lease;
(y) "Supply contract" means a contract under which a lessor buys or leases goods to be leased; and
(z) "Termination" occurs when either party pursuant to a power created by agreement or law puts an end to the lease contract otherwise than for default.
(2) Other definitions applying to this chapter and the sections in which they appear are: "Accessions." § 47-2A-310(1) ; "Construction mortgage." § 47-2A-309(1)(d) ; "Encumbrance." § 47-2A-309(1)(e) ; "Fixtures." § 47-2A-309(1)(a) ; "Fixture filing." § 47-2A-309(1)(b) ; and "Purchase money lease." § 47-2A-309(1)(c) .
"Accessions." § 47-2A-310(1) ;
"Construction mortgage." § 47-2A-309(1)(d) ;
"Encumbrance." § 47-2A-309(1)(e) ;
"Fixtures." § 47-2A-309(1)(a) ;
"Fixture filing." § 47-2A-309(1)(b) ; and
"Purchase money lease." § 47-2A-309(1)(c) .
(3) The following definitions in other chapters apply to this chapter: "Account." § 47-9-102(a)(2) ; "Between merchants." § 47-2-104(3) ; "Buyer." § 47-2-103(1)(a) ; "Chattel paper." § 47-9-102(a)(11) ; "Consumer goods." § 47-9-102(a)(23) ; "Document." § 47-9-102(a)(30) ; "Entrusting." § 47-2-403(3) ; "General intangible." § 47-9-102(a)(42) ; "Good faith." § 47-2-103(1)(b) ; "Instrument." § 47-9-102(a)(47) ; "Merchant." § 47-2-104(1) ; "Mortgage." § 47-9-102(a)(55) ; "Pursuant to commitment." § 47-9-102(a)(69) ; "Receipt." § 47-2-103(1)(c) ; "Sale." § 47-2-106(1) ; "Sale on approval." § 47-2-326 ; "Sale or return." § 47-2-326 ; and "Seller." § 47-2-103(1)(d) .
"Account." § 47-9-102(a)(2) ;
"Between merchants." § 47-2-104(3) ;
"Buyer." § 47-2-103(1)(a) ;
"Chattel paper." § 47-9-102(a)(11) ;
"Consumer goods." § 47-9-102(a)(23) ;
"Document." § 47-9-102(a)(30) ;
"Entrusting." § 47-2-403(3) ;
"General intangible." § 47-9-102(a)(42) ;
"Good faith." § 47-2-103(1)(b) ;
"Instrument." § 47-9-102(a)(47) ;
"Merchant." § 47-2-104(1) ;
"Mortgage." § 47-9-102(a)(55) ;
"Pursuant to commitment." § 47-9-102(a)(69) ;
"Receipt." § 47-2-103(1)(c) ;
"Sale." § 47-2-106(1) ;
"Sale on approval." § 47-2-326 ;
"Sale or return." § 47-2-326 ; and
"Seller." § 47-2-103(1)(d) .
(4) In addition chapter 1 contains general definitions and principles of construction and interpretation applicable throughout this chapter.
Acts 1993, ch. 398, § 1; 1994, ch. 724, § 4; 2000, ch. 846, § 9; 2008, ch. 814, §§ 16, 17; 2012, ch. 708, § 2.
Tenn. Code Ann. § 47-18-5514 — TN Code / Title 47 / Chapter 18 / Section 47-18-5514
Substitute for bond requirement
Status: in_force

(a) Instead of the surety bond required by § 47-18-5513 , a provider may deliver to the administrator, in the amount required by § 47-18-5513(b) , and, except as otherwise provided in subdivision (a)(2)(A), payable or available to this state and to individuals who reside in this state when they agree to receive debt-management services from the provider, as their interests may appear, if the provider or its agent does not comply with this part: (1) A certificate of insurance: (A) Issued by an insurance company authorized to do business in this state and rated at least "A" or equivalent by a nationally recognized rating organization approved by the administrator; and (B) With no deductible, or if the provider supplies a bond in the amount of five thousand dollars ($5,000), a deductible not exceeding five thousand dollars ($5,000); or (2) With the approval of the administrator: (A) An irrevocable letter of credit, issued or confirmed by a bank approved by the administrator, payable upon presentation of a certificate by the administrator stating that the provider or its agent has not complied with this part; or (B) Bonds or other obligations of the United States or guaranteed by the United States or bonds or other obligations of this state or a political subdivision of this state, to be deposited and maintained with a bank approved by the administrator for this purpose. (b) If a provider furnishes a substitute pursuant to subsection (a), then § 47-18-5513(a), (c), (d) and (e) apply to the substitute. Acts 2009, ch. 469, § 1.
(a) Instead of the surety bond required by § 47-18-5513 , a provider may deliver to the administrator, in the amount required by § 47-18-5513(b) , and, except as otherwise provided in subdivision (a)(2)(A), payable or available to this state and to individuals who reside in this state when they agree to receive debt-management services from the provider, as their interests may appear, if the provider or its agent does not comply with this part: (1) A certificate of insurance: (A) Issued by an insurance company authorized to do business in this state and rated at least "A" or equivalent by a nationally recognized rating organization approved by the administrator; and (B) With no deductible, or if the provider supplies a bond in the amount of five thousand dollars ($5,000), a deductible not exceeding five thousand dollars ($5,000); or (2) With the approval of the administrator: (A) An irrevocable letter of credit, issued or confirmed by a bank approved by the administrator, payable upon presentation of a certificate by the administrator stating that the provider or its agent has not complied with this part; or (B) Bonds or other obligations of the United States or guaranteed by the United States or bonds or other obligations of this state or a political subdivision of this state, to be deposited and maintained with a bank approved by the administrator for this purpose.
(1) A certificate of insurance: (A) Issued by an insurance company authorized to do business in this state and rated at least "A" or equivalent by a nationally recognized rating organization approved by the administrator; and (B) With no deductible, or if the provider supplies a bond in the amount of five thousand dollars ($5,000), a deductible not exceeding five thousand dollars ($5,000); or
(A) Issued by an insurance company authorized to do business in this state and rated at least "A" or equivalent by a nationally recognized rating organization approved by the administrator; and
(B) With no deductible, or if the provider supplies a bond in the amount of five thousand dollars ($5,000), a deductible not exceeding five thousand dollars ($5,000); or
(2) With the approval of the administrator: (A) An irrevocable letter of credit, issued or confirmed by a bank approved by the administrator, payable upon presentation of a certificate by the administrator stating that the provider or its agent has not complied with this part; or (B) Bonds or other obligations of the United States or guaranteed by the United States or bonds or other obligations of this state or a political subdivision of this state, to be deposited and maintained with a bank approved by the administrator for this purpose.
(A) An irrevocable letter of credit, issued or confirmed by a bank approved by the administrator, payable upon presentation of a certificate by the administrator stating that the provider or its agent has not complied with this part; or
(B) Bonds or other obligations of the United States or guaranteed by the United States or bonds or other obligations of this state or a political subdivision of this state, to be deposited and maintained with a bank approved by the administrator for this purpose.
(b) If a provider furnishes a substitute pursuant to subsection (a), then § 47-18-5513(a), (c), (d) and (e) apply to the substitute.
Acts 2009, ch. 469, § 1.
Tenn. Code Ann. § 47-9-406 — TN Code / Title 47 / Chapter 9 / Section 47-9-406
Discharge of account debtor - Notification of assignment - Identification and proof of assignment - Restrictions on assignment of accounts, chattel paper, payment intangibles, and promissory notes ineffective
Status: in_force

(a) Discharge of account debtor; effect of notification. Subject to subsections (b) through (i), an account debtor on an account, chattel paper, or a payment intangible may discharge its obligation by paying the assignor until, but not after, the account debtor receives a notification, authenticated by the assignor or the assignee, that the amount due or to become due has been assigned and that payment is to be made to the assignee. After receipt of the notification, the account debtor may discharge its obligation by paying the assignee and may not discharge the obligation by paying the assignor. (b) When notification ineffective. Subject to subsection (h), notification is ineffective under subsection (a): (1) If it does not reasonably identify the rights assigned; (2) To the extent that an agreement between an account debtor and a seller of a payment intangible limits the account debtor's duty to pay a person other than the seller and the limitation is effective under law other than this chapter; or (3) At the option of an account debtor, if the notification notifies the account debtor to make less than the full amount of any installment or other periodic payment to the assignee, even if: (A) Only a portion of the account, chattel paper, or payment intangible has been assigned to that assignee; (B) A portion has been assigned to another assignee; or (C) The account debtor knows that the assignment to that assignee is limited. (c) Proof of assignment. Subject to subsection (h), if requested by the account debtor, an assignee shall seasonably furnish reasonable proof that the assignment has been made. Unless the assignee complies, the account debtor may discharge its obligation by paying the assignor, even if the account debtor has received a notification under subsection (a). (d) Term restricting assignment generally ineffective. Except as otherwise provided in subsection (e) and §§ 47-2A-303 and 47-9-407 , and subject to subsection (h), a term in an agreement between an account debtor and an assignor or in a promissory note is ineffective to the extent that it: (1) Prohibits, restricts, or requires the consent of the account debtor or person obligated on the promissory note to the assignment or transfer of, or the creation, attachment, perfection, or enforcement of a security interest in, the account, chattel paper, payment intangible, or promissory note; or (2) Provides that the assignment or transfer or the creation, attachment, perfection, or enforcement of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the account, chattel paper, payment intangible, or promissory note. (e) Inapplicability of subsection (d) to certain sales. Subsection (d) does not apply to the sale of a payment intangible or promissory note, other than a sale pursuant to a disposition under § 47-9-610 or an acceptance of collateral under § 47-9-620 . (f) Legal restrictions on assignment generally ineffective. Except as otherwise provided in §§ 47-2A-303 and 47-9-407 and subject to subsections (h) and (i), a rule of law, statute, or regulation that prohibits, restricts, or requires the consent of a government, governmental body or official, or account debtor to the assignment or transfer of, or creation of a security interest in, an account or chattel paper is ineffective to the extent that the rule of law, statute, or regulation: (1) Prohibits, restricts, or requires the consent of the government, governmental body or official, or account debtor to the assignment or transfer of, or the creation, attachment, perfection, or enforcement of a security interest in the account or chattel paper; or (2) Provides that the assignment or transfer or the creation, attachment, perfection, or enforcement of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the account or chattel paper. (g) Subdivision (b)(3) not waivable. Subject to subsection (h), an account debtor may not waive or vary its option under subdivision (b)(3). (h) Rule for individual under other law. This section is subject to law other than this chapter which establishes a different rule for an account debtor who is an individual and who incurred the obligation primarily for personal, family, or household purposes. (i) Inapplicability to health-care-insurance receivable. This section does not apply to an assignment of a health-care-insurance receivable. (j) Section prevails over specified inconsistent law. This section prevails over any inconsistent provisions of an existing or future statute, rule, or regulation of this state unless the provision is contained in a statute of this state, refers expressly to this section and states that the provision prevails over this section. Acts 2000, ch. 846, § 1; 2012, ch. 708, § 10.
(a) Discharge of account debtor; effect of notification. Subject to subsections (b) through (i), an account debtor on an account, chattel paper, or a payment intangible may discharge its obligation by paying the assignor until, but not after, the account debtor receives a notification, authenticated by the assignor or the assignee, that the amount due or to become due has been assigned and that payment is to be made to the assignee. After receipt of the notification, the account debtor may discharge its obligation by paying the assignee and may not discharge the obligation by paying the assignor.
(b) When notification ineffective. Subject to subsection (h), notification is ineffective under subsection (a): (1) If it does not reasonably identify the rights assigned; (2) To the extent that an agreement between an account debtor and a seller of a payment intangible limits the account debtor's duty to pay a person other than the seller and the limitation is effective under law other than this chapter; or (3) At the option of an account debtor, if the notification notifies the account debtor to make less than the full amount of any installment or other periodic payment to the assignee, even if: (A) Only a portion of the account, chattel paper, or payment intangible has been assigned to that assignee; (B) A portion has been assigned to another assignee; or (C) The account debtor knows that the assignment to that assignee is limited.
(1) If it does not reasonably identify the rights assigned;
(2) To the extent that an agreement between an account debtor and a seller of a payment intangible limits the account debtor's duty to pay a person other than the seller and the limitation is effective under law other than this chapter; or
(3) At the option of an account debtor, if the notification notifies the account debtor to make less than the full amount of any installment or other periodic payment to the assignee, even if: (A) Only a portion of the account, chattel paper, or payment intangible has been assigned to that assignee; (B) A portion has been assigned to another assignee; or (C) The account debtor knows that the assignment to that assignee is limited.
(A) Only a portion of the account, chattel paper, or payment intangible has been assigned to that assignee;
(B) A portion has been assigned to another assignee; or
(C) The account debtor knows that the assignment to that assignee is limited.
(c) Proof of assignment. Subject to subsection (h), if requested by the account debtor, an assignee shall seasonably furnish reasonable proof that the assignment has been made. Unless the assignee complies, the account debtor may discharge its obligation by paying the assignor, even if the account debtor has received a notification under subsection (a).
(d) Term restricting assignment generally ineffective. Except as otherwise provided in subsection (e) and §§ 47-2A-303 and 47-9-407 , and subject to subsection (h), a term in an agreement between an account debtor and an assignor or in a promissory note is ineffective to the extent that it: (1) Prohibits, restricts, or requires the consent of the account debtor or person obligated on the promissory note to the assignment or transfer of, or the creation, attachment, perfection, or enforcement of a security interest in, the account, chattel paper, payment intangible, or promissory note; or (2) Provides that the assignment or transfer or the creation, attachment, perfection, or enforcement of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the account, chattel paper, payment intangible, or promissory note.
(1) Prohibits, restricts, or requires the consent of the account debtor or person obligated on the promissory note to the assignment or transfer of, or the creation, attachment, perfection, or enforcement of a security interest in, the account, chattel paper, payment intangible, or promissory note; or
(2) Provides that the assignment or transfer or the creation, attachment, perfection, or enforcement of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the account, chattel paper, payment intangible, or promissory note.
(e) Inapplicability of subsection (d) to certain sales. Subsection (d) does not apply to the sale of a payment intangible or promissory note, other than a sale pursuant to a disposition under § 47-9-610 or an acceptance of collateral under § 47-9-620 .
(f) Legal restrictions on assignment generally ineffective. Except as otherwise provided in §§ 47-2A-303 and 47-9-407 and subject to subsections (h) and (i), a rule of law, statute, or regulation that prohibits, restricts, or requires the consent of a government, governmental body or official, or account debtor to the assignment or transfer of, or creation of a security interest in, an account or chattel paper is ineffective to the extent that the rule of law, statute, or regulation: (1) Prohibits, restricts, or requires the consent of the government, governmental body or official, or account debtor to the assignment or transfer of, or the creation, attachment, perfection, or enforcement of a security interest in the account or chattel paper; or (2) Provides that the assignment or transfer or the creation, attachment, perfection, or enforcement of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the account or chattel paper.
(1) Prohibits, restricts, or requires the consent of the government, governmental body or official, or account debtor to the assignment or transfer of, or the creation, attachment, perfection, or enforcement of a security interest in the account or chattel paper; or
(2) Provides that the assignment or transfer or the creation, attachment, perfection, or enforcement of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the account or chattel paper.
(g) Subdivision (b)(3) not waivable. Subject to subsection (h), an account debtor may not waive or vary its option under subdivision (b)(3).
(h) Rule for individual under other law. This section is subject to law other than this chapter which establishes a different rule for an account debtor who is an individual and who incurred the obligation primarily for personal, family, or household purposes.
(i) Inapplicability to health-care-insurance receivable. This section does not apply to an assignment of a health-care-insurance receivable.
(j) Section prevails over specified inconsistent law. This section prevails over any inconsistent provisions of an existing or future statute, rule, or regulation of this state unless the provision is contained in a statute of this state, refers expressly to this section and states that the provision prevails over this section.
Acts 2000, ch. 846, § 1; 2012, ch. 708, § 10.
Tenn. Code Ann. § 47-18-102 — TN Code / Title 47 / Chapter 18 / Section 47-18-102
Purposes
Status: in_force

This part shall be liberally construed to promote the following policies: (1) To simplify, clarify, and modernize state law governing the protection of the consuming public and to conform these laws with existing consumer protection policies; (2) To protect consumers and legitimate business enterprises from those who engage in unfair or deceptive acts or practices in the conduct of any trade or commerce in part or wholly within this state; (3) To encourage and promote the development of fair consumer practices; (4) To declare and to provide for civil legal means for maintaining ethical standards of dealing between persons engaged in business and the consuming public to the end that good faith dealings between buyers and sellers at all levels of commerce be had in this state; and (5) To promote statewide consumer education. Acts 1977, ch. 438, § 2.
This part shall be liberally construed to promote the following policies:
(1) To simplify, clarify, and modernize state law governing the protection of the consuming public and to conform these laws with existing consumer protection policies;
(2) To protect consumers and legitimate business enterprises from those who engage in unfair or deceptive acts or practices in the conduct of any trade or commerce in part or wholly within this state;
(3) To encourage and promote the development of fair consumer practices;
(4) To declare and to provide for civil legal means for maintaining ethical standards of dealing between persons engaged in business and the consuming public to the end that good faith dealings between buyers and sellers at all levels of commerce be had in this state; and
(5) To promote statewide consumer education.
Acts 1977, ch. 438, § 2.
Tenn. Code Ann. § 47-26-1113 — TN Code / Title 47 / Chapter 26 / Section 47-26-1113
Revocation proceedings
Status: in_force

If the commissioner suspends or revokes a serviceperson/service agency license, the revokee may appeal the decision through the appropriate court of law in Davidson County. Acts 1997, ch. 311, § 3.
If the commissioner suspends or revokes a serviceperson/service agency license, the revokee may appeal the decision through the appropriate court of law in Davidson County.
Acts 1997, ch. 311, § 3.
Tenn. Code Ann. § 47-3-413 — TN Code / Title 47 / Chapter 3 / Section 47-3-413
Obligation of acceptor
Status: in_force

(a) The acceptor of a draft is obliged to pay the draft (i) according to its terms at the time it was accepted, even though the acceptance states that the draft is payable "as originally drawn" or equivalent terms, (ii) if the acceptance varies the terms of the draft, according to the terms of the draft as varied, or (iii) if the acceptance is of a draft that is an incomplete instrument, according to its terms when completed, to the extent stated in §§ 47-3-115 and 47-3-407 . The obligation is owed to a person entitled to enforce the draft or to the drawer or an endorser who paid the draft under § 47-3-414 or § 47-3-415 . (b) If the certification of a check or other acceptance of a draft states the amount certified or accepted, the obligation of the acceptor is that amount. If (i) the certification or acceptance does not state an amount, (ii) the amount of the instrument is subsequently raised, and (iii) the instrument is then negotiated to a holder in due course, the obligation of the acceptor is the amount of the instrument at the time it was taken by the holder in due course. Acts 1995, ch. 397, § 2.
(a) The acceptor of a draft is obliged to pay the draft (i) according to its terms at the time it was accepted, even though the acceptance states that the draft is payable "as originally drawn" or equivalent terms, (ii) if the acceptance varies the terms of the draft, according to the terms of the draft as varied, or (iii) if the acceptance is of a draft that is an incomplete instrument, according to its terms when completed, to the extent stated in §§ 47-3-115 and 47-3-407 . The obligation is owed to a person entitled to enforce the draft or to the drawer or an endorser who paid the draft under § 47-3-414 or § 47-3-415 .
(b) If the certification of a check or other acceptance of a draft states the amount certified or accepted, the obligation of the acceptor is that amount. If (i) the certification or acceptance does not state an amount, (ii) the amount of the instrument is subsequently raised, and (iii) the instrument is then negotiated to a holder in due course, the obligation of the acceptor is the amount of the instrument at the time it was taken by the holder in due course.
Acts 1995, ch. 397, § 2.
Tenn. Code Ann. § 47-2-705 — TN Code / Title 47 / Chapter 2 / Section 47-2-705
Seller's stoppage of delivery in transit or otherwise
Status: in_force

(1) The seller may stop delivery of goods in the possession of a carrier or other bailee when he discovers the buyer to be insolvent (§ 47-2-702 ) and may stop delivery of carload, truckload, planeload or larger shipments of express or freight when the buyer repudiates or fails to make a payment due before delivery or if for any other reason the seller has a right to withhold or reclaim the goods. (2) As against such buyer the seller may stop delivery until: (a) receipt of the goods by the buyer; or (b) acknowledgment to the buyer by any bailee of the goods except a carrier that the bailee holds the goods for the buyer; or (c) such acknowledgment to the buyer by a carrier by reshipment or as a warehouse; or (d) negotiation to the buyer of any negotiable document of title covering the goods. (3) (a) To stop delivery the seller must so notify as to enable the bailee by reasonable diligence to prevent delivery of the goods. (b) After such notification the bailee must hold and deliver the goods according to the directions of the seller but the seller is liable to the bailee for any ensuing charges or damages. (c) If a negotiable document of title has been issued for goods the bailee is not obliged to obey a notification to stop until surrender of possession or control of the document. (d) A carrier who has issued a nonnegotiable bill of lading is not obliged to obey a notification to stop received from a person other than the consignor. Acts 1963, ch. 81, § 1 (2-705); Acts 2008, ch. 814, §§ 14, 15.
(1) The seller may stop delivery of goods in the possession of a carrier or other bailee when he discovers the buyer to be insolvent (§ 47-2-702 ) and may stop delivery of carload, truckload, planeload or larger shipments of express or freight when the buyer repudiates or fails to make a payment due before delivery or if for any other reason the seller has a right to withhold or reclaim the goods.
(2) As against such buyer the seller may stop delivery until: (a) receipt of the goods by the buyer; or (b) acknowledgment to the buyer by any bailee of the goods except a carrier that the bailee holds the goods for the buyer; or (c) such acknowledgment to the buyer by a carrier by reshipment or as a warehouse; or (d) negotiation to the buyer of any negotiable document of title covering the goods.
(a) receipt of the goods by the buyer; or
(b) acknowledgment to the buyer by any bailee of the goods except a carrier that the bailee holds the goods for the buyer; or
(c) such acknowledgment to the buyer by a carrier by reshipment or as a warehouse; or
(d) negotiation to the buyer of any negotiable document of title covering the goods.
(3) (a) To stop delivery the seller must so notify as to enable the bailee by reasonable diligence to prevent delivery of the goods. (b) After such notification the bailee must hold and deliver the goods according to the directions of the seller but the seller is liable to the bailee for any ensuing charges or damages. (c) If a negotiable document of title has been issued for goods the bailee is not obliged to obey a notification to stop until surrender of possession or control of the document. (d) A carrier who has issued a nonnegotiable bill of lading is not obliged to obey a notification to stop received from a person other than the consignor.
(a) To stop delivery the seller must so notify as to enable the bailee by reasonable diligence to prevent delivery of the goods.
(b) After such notification the bailee must hold and deliver the goods according to the directions of the seller but the seller is liable to the bailee for any ensuing charges or damages.
(c) If a negotiable document of title has been issued for goods the bailee is not obliged to obey a notification to stop until surrender of possession or control of the document.
(d) A carrier who has issued a nonnegotiable bill of lading is not obliged to obey a notification to stop received from a person other than the consignor.
Acts 1963, ch. 81, § 1 (2-705); Acts 2008, ch. 814, §§ 14, 15.
Tenn. Code Ann. § 47-9-513 — TN Code / Title 47 / Chapter 9 / Section 47-9-513
Termination statement
Status: in_force

(a) Consumer goods. A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and: (1) there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or (2) the debtor did not authorize the filing of the initial financing statement. (b) Time for compliance with subsection (a). To comply with subsection (a), a secured party shall cause the secured party of record to file the termination statement: (1) within one (1) month after there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or (2) if earlier, within twenty (20) days after the secured party receives an authenticated demand from a debtor. (c) Other collateral. In cases not governed by subsection (a), within 20 days after a secured party receives an authenticated demand from a debtor, the secured party shall cause the secured party of record for a financing statement to send to the debtor a termination statement for the financing statement or file the termination statement in the filing office if: (1) except in the case of a financing statement covering accounts or chattel paper that has been sold or goods that are the subject of a consignment, there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; (2) the financing statement covers accounts or chattel paper that has been sold but as to which the account debtor or other person obligated has discharged its obligation; (3) the financing statement covers goods that were the subject of a consignment to the debtor but are not in the debtor's possession; or (4) the debtor did not authorize the filing of the initial financing statement. (d) Effect of filing termination statement. (1) Except as otherwise provided in § 47-9-510 , upon the filing of a termination statement with the filing office, the financing statement to which the termination statement relates ceases to be effective. (2) Except as otherwise provided in § 47-9-510 , for purposes of Sections 47-9-519(g) , 47-9-522(a) , and 47-9-523(c) , the filing with the filing office of a termination statement relating to a financing statement that indicates that the debtor is a transmitting utility also causes the effectiveness of the financing statement to lapse. (e) (1) As used in this subsection (e), "public official" means: (A) An individual who is a current or retired elected or appointed government official, including a state, county, metropolitan, or municipal official; (B) An individual who is the head of a division or major unit or department within an agency or office of the executive, judicial, or legislative branch of state, county, metropolitan, or municipal government, regardless of the title of the position, and who, as a substantial part of the individual's duties, provides meaningful input on the development of policy goals or the implementation of policy; (C) A high-ranking employee within the executive, judicial, or legislative branch of state, county, metropolitan, or municipal government who has a primary responsibility for one (1) or more of the following functions: (i) Public information and legislative affairs; (ii) Fiscal, budget, and audit matters; (iii) Legal, security, or internal affairs; (iv) Information technology systems; and (v) Human resources; (D) A first responder, as defined in § 29-34-203 ; or (E) A law enforcement officer, as defined in § 39-11-106 . (2) (A) A public official who is identified as a debtor in a filed financing statement may file a notarized affidavit, signed under penalty of perjury, which contains: (i) The Uniform Commercial Code financing statement file number of the financing statement; (ii) The affiant's mailing address; (iii) A statement that the affiant is a public official; and (iv) A statement that the affiant believes that the filed record identifying the affiant as a debtor was filed without any reasonable basis or legal cause, and the affiant's factual basis for why the filed record lacks any reasonable basis or legal cause. (B) The secretary of state shall adopt a form of affidavit for use under subdivision (e)(2)(A). (3) Once an affidavit is filed with the filing office pursuant to subdivision (e)(2)(A), the filing office shall indicate on the Uniform Commercial Code financing statement that the underlying financing statement is "Contested - Under Review." (4) (A) Within three (3) business days of receipt of an affidavit filed pursuant to subdivision (e)(2)(A), the filing office shall send a copy of the affidavit, by registered or certified mail, with return receipt requested, addressed to the secured party of record for the financing statement to which the affidavit relates. (B) The copy of the affidavit shall be deemed delivered upon: (i) Acceptance by the addressee; (ii) A showing that the addressee refused to accept delivery and it is so stated in the return receipt of the United States postal service; or (iii) The United States postal service returning the affidavit as undeliverable or unclaimed. (C) The refusal or failure of a secured party to accept delivery of the registered or certified mail, or the refusal or failure to sign the return receipt, shall not affect the validity of delivery of the affidavit, and a secured party who refuses or fails to accept delivery of such registered or certified mail shall be charged with knowledge of the contents of the affidavit. (D) Once the filing office receives the return receipt, notice of refusal or failure to sign the return receipt, or notice that the affidavit is undeliverable, the twenty (20) business days referenced in subdivision (e)(5) will commence. (5) (A) Within twenty (20) business days of delivery of the affidavit to the secured party, a secured party who believes in good faith that the filed financing statement was filed with a reasonable basis or legal cause, may file with the filing office a petition for review by an administrative judge pursuant to the contested case procedures of the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, part 3. (B) A petition for review must set forth the factual basis showing that the filed record was filed with a reasonable basis or legal cause, and must be accompanied by a cost bond in the amount of two hundred dollars ($200), the form of which shall be determined through rule by the secretary of state. The cost bond required pursuant to this subdivision (e)(5)(B) does not apply to any financial institution that is insured by the federal deposit insurance corporation, insured by the national credit union administration, or regulated by the farm credit administration. (C) Within three (3) business days of receipt of the petition for review and cost bond by the filing office, the filing office shall forward the petition to the administrative procedures division of the office of the secretary of state, along with a request for a hearing. (D) Within ten (10) business days of receipt of the petition for review from the filing office, an administrative law judge shall notify the parties identified in the petition of the hearing date and location. (E) The venue for all hearings under this subsection (e) shall be Davidson County. (F) Should circumstances require such, the administrative law judge may permit all or part of a hearing to be conducted by telephone. (G) Nothing in this subsection (e) shall be construed as requiring the hearing to take place within the ten (10) business day period described in subdivision (e)(5)(D). (H) The administrative law judge shall make a determination as to whether the financing statement was filed with any reasonable basis or legal cause and shall issue an order that complies with § 4-5-314(c) within thirty (30) days of the close of the record of the proceedings. (I) Section 4-5-322 shall provide the exclusive method of review of the administrative law judge's order. (6) If the filing office has not received a petition and cost bond from the secured party of record, within twenty (20) business days of delivery of the affidavit under subdivisions (e)(5)(A) and (B), the filing office shall void and remove from the public record the financing statement, along with all other documents associated with the financing statement, including the affidavit. (7) If, following a contested case hearing of a petition for review filed by a secured party under subdivision (e)(5), an administrative law judge determines that there is reasonable basis or legal cause for the financing statement, the filing office shall remove the "Contested - Under Review" indication from the Uniform Commercial Code financing statement and the effectiveness of the financing statement will be reflected as the original date of filing. (8) If, following a contested case hearing of a petition for review filed by a secured party under subdivision (e)(5), an administrative judge determines that the financing statement was filed without any reasonable basis or legal cause, the filing office shall void and remove from the public record the financing statement along with all other documents associated with the financing statement upon the administrative judge's order becoming effective and no longer subject to review pursuant to § 4-5-322 . (9) In a contested case hearing of a petition for review filed by a secured party to determine whether the financing statement was filed with any reasonable basis or legal cause, the prevailing party may recover costs and expenses, including reasonable attorneys' fees that are incurred in the review action. Amended by 2017 Tenn. Acts, ch. 406,s 1, eff. 10/1/2017. Acts 2000, ch. 846, § 1.
(a) Consumer goods. A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and: (1) there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or (2) the debtor did not authorize the filing of the initial financing statement.
(1) there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or
(2) the debtor did not authorize the filing of the initial financing statement.
(b) Time for compliance with subsection (a). To comply with subsection (a), a secured party shall cause the secured party of record to file the termination statement: (1) within one (1) month after there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or (2) if earlier, within twenty (20) days after the secured party receives an authenticated demand from a debtor.
(1) within one (1) month after there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or
(2) if earlier, within twenty (20) days after the secured party receives an authenticated demand from a debtor.
(c) Other collateral. In cases not governed by subsection (a), within 20 days after a secured party receives an authenticated demand from a debtor, the secured party shall cause the secured party of record for a financing statement to send to the debtor a termination statement for the financing statement or file the termination statement in the filing office if: (1) except in the case of a financing statement covering accounts or chattel paper that has been sold or goods that are the subject of a consignment, there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; (2) the financing statement covers accounts or chattel paper that has been sold but as to which the account debtor or other person obligated has discharged its obligation; (3) the financing statement covers goods that were the subject of a consignment to the debtor but are not in the debtor's possession; or (4) the debtor did not authorize the filing of the initial financing statement.
(1) except in the case of a financing statement covering accounts or chattel paper that has been sold or goods that are the subject of a consignment, there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value;
(2) the financing statement covers accounts or chattel paper that has been sold but as to which the account debtor or other person obligated has discharged its obligation;
(3) the financing statement covers goods that were the subject of a consignment to the debtor but are not in the debtor's possession; or
(4) the debtor did not authorize the filing of the initial financing statement.
(d) Effect of filing termination statement. (1) Except as otherwise provided in § 47-9-510 , upon the filing of a termination statement with the filing office, the financing statement to which the termination statement relates ceases to be effective. (2) Except as otherwise provided in § 47-9-510 , for purposes of Sections 47-9-519(g) , 47-9-522(a) , and 47-9-523(c) , the filing with the filing office of a termination statement relating to a financing statement that indicates that the debtor is a transmitting utility also causes the effectiveness of the financing statement to lapse.
(1) Except as otherwise provided in § 47-9-510 , upon the filing of a termination statement with the filing office, the financing statement to which the termination statement relates ceases to be effective.
(2) Except as otherwise provided in § 47-9-510 , for purposes of Sections 47-9-519(g) , 47-9-522(a) , and 47-9-523(c) , the filing with the filing office of a termination statement relating to a financing statement that indicates that the debtor is a transmitting utility also causes the effectiveness of the financing statement to lapse.
(e) (1) As used in this subsection (e), "public official" means: (A) An individual who is a current or retired elected or appointed government official, including a state, county, metropolitan, or municipal official; (B) An individual who is the head of a division or major unit or department within an agency or office of the executive, judicial, or legislative branch of state, county, metropolitan, or municipal government, regardless of the title of the position, and who, as a substantial part of the individual's duties, provides meaningful input on the development of policy goals or the implementation of policy; (C) A high-ranking employee within the executive, judicial, or legislative branch of state, county, metropolitan, or municipal government who has a primary responsibility for one (1) or more of the following functions: (i) Public information and legislative affairs; (ii) Fiscal, budget, and audit matters; (iii) Legal, security, or internal affairs; (iv) Information technology systems; and (v) Human resources; (D) A first responder, as defined in § 29-34-203 ; or (E) A law enforcement officer, as defined in § 39-11-106 . (2) (A) A public official who is identified as a debtor in a filed financing statement may file a notarized affidavit, signed under penalty of perjury, which contains: (i) The Uniform Commercial Code financing statement file number of the financing statement; (ii) The affiant's mailing address; (iii) A statement that the affiant is a public official; and (iv) A statement that the affiant believes that the filed record identifying the affiant as a debtor was filed without any reasonable basis or legal cause, and the affiant's factual basis for why the filed record lacks any reasonable basis or legal cause. (B) The secretary of state shall adopt a form of affidavit for use under subdivision (e)(2)(A). (3) Once an affidavit is filed with the filing office pursuant to subdivision (e)(2)(A), the filing office shall indicate on the Uniform Commercial Code financing statement that the underlying financing statement is "Contested - Under Review." (4) (A) Within three (3) business days of receipt of an affidavit filed pursuant to subdivision (e)(2)(A), the filing office shall send a copy of the affidavit, by registered or certified mail, with return receipt requested, addressed to the secured party of record for the financing statement to which the affidavit relates. (B) The copy of the affidavit shall be deemed delivered upon: (i) Acceptance by the addressee; (ii) A showing that the addressee refused to accept delivery and it is so stated in the return receipt of the United States postal service; or (iii) The United States postal service returning the affidavit as undeliverable or unclaimed. (C) The refusal or failure of a secured party to accept delivery of the registered or certified mail, or the refusal or failure to sign the return receipt, shall not affect the validity of delivery of the affidavit, and a secured party who refuses or fails to accept delivery of such registered or certified mail shall be charged with knowledge of the contents of the affidavit. (D) Once the filing office receives the return receipt, notice of refusal or failure to sign the return receipt, or notice that the affidavit is undeliverable, the twenty (20) business days referenced in subdivision (e)(5) will commence. (5) (A) Within twenty (20) business days of delivery of the affidavit to the secured party, a secured party who believes in good faith that the filed financing statement was filed with a reasonable basis or legal cause, may file with the filing office a petition for review by an administrative judge pursuant to the contested case procedures of the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, part 3. (B) A petition for review must set forth the factual basis showing that the filed record was filed with a reasonable basis or legal cause, and must be accompanied by a cost bond in the amount of two hundred dollars ($200), the form of which shall be determined through rule by the secretary of state. The cost bond required pursuant to this subdivision (e)(5)(B) does not apply to any financial institution that is insured by the federal deposit insurance corporation, insured by the national credit union administration, or regulated by the farm credit administration. (C) Within three (3) business days of receipt of the petition for review and cost bond by the filing office, the filing office shall forward the petition to the administrative procedures division of the office of the secretary of state, along with a request for a hearing. (D) Within ten (10) business days of receipt of the petition for review from the filing office, an administrative law judge shall notify the parties identified in the petition of the hearing date and location. (E) The venue for all hearings under this subsection (e) shall be Davidson County. (F) Should circumstances require such, the administrative law judge may permit all or part of a hearing to be conducted by telephone. (G) Nothing in this subsection (e) shall be construed as requiring the hearing to take place within the ten (10) business day period described in subdivision (e)(5)(D). (H) The administrative law judge shall make a determination as to whether the financing statement was filed with any reasonable basis or legal cause and shall issue an order that complies with § 4-5-314(c) within thirty (30) days of the close of the record of the proceedings. (I) Section 4-5-322 shall provide the exclusive method of review of the administrative law judge's order. (6) If the filing office has not received a petition and cost bond from the secured party of record, within twenty (20) business days of delivery of the affidavit under subdivisions (e)(5)(A) and (B), the filing office shall void and remove from the public record the financing statement, along with all other documents associated with the financing statement, including the affidavit. (7) If, following a contested case hearing of a petition for review filed by a secured party under subdivision (e)(5), an administrative law judge determines that there is reasonable basis or legal cause for the financing statement, the filing office shall remove the "Contested - Under Review" indication from the Uniform Commercial Code financing statement and the effectiveness of the financing statement will be reflected as the original date of filing. (8) If, following a contested case hearing of a petition for review filed by a secured party under subdivision (e)(5), an administrative judge determines that the financing statement was filed without any reasonable basis or legal cause, the filing office shall void and remove from the public record the financing statement along with all other documents associated with the financing statement upon the administrative judge's order becoming effective and no longer subject to review pursuant to § 4-5-322 . (9) In a contested case hearing of a petition for review filed by a secured party to determine whether the financing statement was filed with any reasonable basis or legal cause, the prevailing party may recover costs and expenses, including reasonable attorneys' fees that are incurred in the review action.
(1) As used in this subsection (e), "public official" means: (A) An individual who is a current or retired elected or appointed government official, including a state, county, metropolitan, or municipal official; (B) An individual who is the head of a division or major unit or department within an agency or office of the executive, judicial, or legislative branch of state, county, metropolitan, or municipal government, regardless of the title of the position, and who, as a substantial part of the individual's duties, provides meaningful input on the development of policy goals or the implementation of policy; (C) A high-ranking employee within the executive, judicial, or legislative branch of state, county, metropolitan, or municipal government who has a primary responsibility for one (1) or more of the following functions: (i) Public information and legislative affairs; (ii) Fiscal, budget, and audit matters; (iii) Legal, security, or internal affairs; (iv) Information technology systems; and (v) Human resources; (D) A first responder, as defined in § 29-34-203 ; or (E) A law enforcement officer, as defined in § 39-11-106 .
(A) An individual who is a current or retired elected or appointed government official, including a state, county, metropolitan, or municipal official;
(B) An individual who is the head of a division or major unit or department within an agency or office of the executive, judicial, or legislative branch of state, county, metropolitan, or municipal government, regardless of the title of the position, and who, as a substantial part of the individual's duties, provides meaningful input on the development of policy goals or the implementation of policy;
(C) A high-ranking employee within the executive, judicial, or legislative branch of state, county, metropolitan, or municipal government who has a primary responsibility for one (1) or more of the following functions: (i) Public information and legislative affairs; (ii) Fiscal, budget, and audit matters; (iii) Legal, security, or internal affairs; (iv) Information technology systems; and (v) Human resources;
(i) Public information and legislative affairs;
(ii) Fiscal, budget, and audit matters;
(iii) Legal, security, or internal affairs;
(iv) Information technology systems; and
(v) Human resources;
(D) A first responder, as defined in § 29-34-203 ; or
(E) A law enforcement officer, as defined in § 39-11-106 .
(2) (A) A public official who is identified as a debtor in a filed financing statement may file a notarized affidavit, signed under penalty of perjury, which contains: (i) The Uniform Commercial Code financing statement file number of the financing statement; (ii) The affiant's mailing address; (iii) A statement that the affiant is a public official; and (iv) A statement that the affiant believes that the filed record identifying the affiant as a debtor was filed without any reasonable basis or legal cause, and the affiant's factual basis for why the filed record lacks any reasonable basis or legal cause. (B) The secretary of state shall adopt a form of affidavit for use under subdivision (e)(2)(A).
(A) A public official who is identified as a debtor in a filed financing statement may file a notarized affidavit, signed under penalty of perjury, which contains: (i) The Uniform Commercial Code financing statement file number of the financing statement; (ii) The affiant's mailing address; (iii) A statement that the affiant is a public official; and (iv) A statement that the affiant believes that the filed record identifying the affiant as a debtor was filed without any reasonable basis or legal cause, and the affiant's factual basis for why the filed record lacks any reasonable basis or legal cause.
(i) The Uniform Commercial Code financing statement file number of the financing statement;
(ii) The affiant's mailing address;
(iii) A statement that the affiant is a public official; and
(iv) A statement that the affiant believes that the filed record identifying the affiant as a debtor was filed without any reasonable basis or legal cause, and the affiant's factual basis for why the filed record lacks any reasonable basis or legal cause.
(B) The secretary of state shall adopt a form of affidavit for use under subdivision (e)(2)(A).
(3) Once an affidavit is filed with the filing office pursuant to subdivision (e)(2)(A), the filing office shall indicate on the Uniform Commercial Code financing statement that the underlying financing statement is "Contested - Under Review."
(4) (A) Within three (3) business days of receipt of an affidavit filed pursuant to subdivision (e)(2)(A), the filing office shall send a copy of the affidavit, by registered or certified mail, with return receipt requested, addressed to the secured party of record for the financing statement to which the affidavit relates. (B) The copy of the affidavit shall be deemed delivered upon: (i) Acceptance by the addressee; (ii) A showing that the addressee refused to accept delivery and it is so stated in the return receipt of the United States postal service; or (iii) The United States postal service returning the affidavit as undeliverable or unclaimed. (C) The refusal or failure of a secured party to accept delivery of the registered or certified mail, or the refusal or failure to sign the return receipt, shall not affect the validity of delivery of the affidavit, and a secured party who refuses or fails to accept delivery of such registered or certified mail shall be charged with knowledge of the contents of the affidavit. (D) Once the filing office receives the return receipt, notice of refusal or failure to sign the return receipt, or notice that the affidavit is undeliverable, the twenty (20) business days referenced in subdivision (e)(5) will commence.
(A) Within three (3) business days of receipt of an affidavit filed pursuant to subdivision (e)(2)(A), the filing office shall send a copy of the affidavit, by registered or certified mail, with return receipt requested, addressed to the secured party of record for the financing statement to which the affidavit relates.
(B) The copy of the affidavit shall be deemed delivered upon: (i) Acceptance by the addressee; (ii) A showing that the addressee refused to accept delivery and it is so stated in the return receipt of the United States postal service; or (iii) The United States postal service returning the affidavit as undeliverable or unclaimed.
(i) Acceptance by the addressee;
(ii) A showing that the addressee refused to accept delivery and it is so stated in the return receipt of the United States postal service; or
(iii) The United States postal service returning the affidavit as undeliverable or unclaimed.
(C) The refusal or failure of a secured party to accept delivery of the registered or certified mail, or the refusal or failure to sign the return receipt, shall not affect the validity of delivery of the affidavit, and a secured party who refuses or fails to accept delivery of such registered or certified mail shall be charged with knowledge of the contents of the affidavit.
(D) Once the filing office receives the return receipt, notice of refusal or failure to sign the return receipt, or notice that the affidavit is undeliverable, the twenty (20) business days referenced in subdivision (e)(5) will commence.
(5) (A) Within twenty (20) business days of delivery of the affidavit to the secured party, a secured party who believes in good faith that the filed financing statement was filed with a reasonable basis or legal cause, may file with the filing office a petition for review by an administrative judge pursuant to the contested case procedures of the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, part 3. (B) A petition for review must set forth the factual basis showing that the filed record was filed with a reasonable basis or legal cause, and must be accompanied by a cost bond in the amount of two hundred dollars ($200), the form of which shall be determined through rule by the secretary of state. The cost bond required pursuant to this subdivision (e)(5)(B) does not apply to any financial institution that is insured by the federal deposit insurance corporation, insured by the national credit union administration, or regulated by the farm credit administration. (C) Within three (3) business days of receipt of the petition for review and cost bond by the filing office, the filing office shall forward the petition to the administrative procedures division of the office of the secretary of state, along with a request for a hearing. (D) Within ten (10) business days of receipt of the petition for review from the filing office, an administrative law judge shall notify the parties identified in the petition of the hearing date and location. (E) The venue for all hearings under this subsection (e) shall be Davidson County. (F) Should circumstances require such, the administrative law judge may permit all or part of a hearing to be conducted by telephone. (G) Nothing in this subsection (e) shall be construed as requiring the hearing to take place within the ten (10) business day period described in subdivision (e)(5)(D). (H) The administrative law judge shall make a determination as to whether the financing statement was filed with any reasonable basis or legal cause and shall issue an order that complies with § 4-5-314(c) within thirty (30) days of the close of the record of the proceedings. (I) Section 4-5-322 shall provide the exclusive method of review of the administrative law judge's order.
(A) Within twenty (20) business days of delivery of the affidavit to the secured party, a secured party who believes in good faith that the filed financing statement was filed with a reasonable basis or legal cause, may file with the filing office a petition for review by an administrative judge pursuant to the contested case procedures of the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, part 3.
(B) A petition for review must set forth the factual basis showing that the filed record was filed with a reasonable basis or legal cause, and must be accompanied by a cost bond in the amount of two hundred dollars ($200), the form of which shall be determined through rule by the secretary of state. The cost bond required pursuant to this subdivision (e)(5)(B) does not apply to any financial institution that is insured by the federal deposit insurance corporation, insured by the national credit union administration, or regulated by the farm credit administration.
(C) Within three (3) business days of receipt of the petition for review and cost bond by the filing office, the filing office shall forward the petition to the administrative procedures division of the office of the secretary of state, along with a request for a hearing.
(D) Within ten (10) business days of receipt of the petition for review from the filing office, an administrative law judge shall notify the parties identified in the petition of the hearing date and location.
(E) The venue for all hearings under this subsection (e) shall be Davidson County.
(F) Should circumstances require such, the administrative law judge may permit all or part of a hearing to be conducted by telephone.
(G) Nothing in this subsection (e) shall be construed as requiring the hearing to take place within the ten (10) business day period described in subdivision (e)(5)(D).
(H) The administrative law judge shall make a determination as to whether the financing statement was filed with any reasonable basis or legal cause and shall issue an order that complies with § 4-5-314(c) within thirty (30) days of the close of the record of the proceedings.
(I) Section 4-5-322 shall provide the exclusive method of review of the administrative law judge's order.
(6) If the filing office has not received a petition and cost bond from the secured party of record, within twenty (20) business days of delivery of the affidavit under subdivisions (e)(5)(A) and (B), the filing office shall void and remove from the public record the financing statement, along with all other documents associated with the financing statement, including the affidavit.
(7) If, following a contested case hearing of a petition for review filed by a secured party under subdivision (e)(5), an administrative law judge determines that there is reasonable basis or legal cause for the financing statement, the filing office shall remove the "Contested - Under Review" indication from the Uniform Commercial Code financing statement and the effectiveness of the financing statement will be reflected as the original date of filing.
(8) If, following a contested case hearing of a petition for review filed by a secured party under subdivision (e)(5), an administrative judge determines that the financing statement was filed without any reasonable basis or legal cause, the filing office shall void and remove from the public record the financing statement along with all other documents associated with the financing statement upon the administrative judge's order becoming effective and no longer subject to review pursuant to § 4-5-322 .
(9) In a contested case hearing of a petition for review filed by a secured party to determine whether the financing statement was filed with any reasonable basis or legal cause, the prevailing party may recover costs and expenses, including reasonable attorneys' fees that are incurred in the review action.
Amended by 2017 Tenn. Acts, ch. 406,s 1, eff. 10/1/2017.
Acts 2000, ch. 846, § 1.
Tenn. Code Ann. § 47-2-401 — TN Code / Title 47 / Chapter 2 / Section 47-2-401
Passing of title - Reservation for security - Limited application of this section
Status: in_force

Each provision of this chapter with regard to the rights, obligations and remedies of the seller, the buyer, purchasers or other third parties applies irrespective of title to the goods except where the provision refers to such title. Insofar as situations are not covered by the other provisions of this chapter and matters concerning title become material the following rules apply: (1) Title to goods cannot pass under a contract for sale prior to their identification to the contract (§ 47-2-501 ), and unless otherwise explicitly agreed the buyer acquires by their identification a special property as limited by chapters 1-9 of this title. Any retention or reservation by the seller of the title (property) in goods shipped or delivered to the buyer is limited in effect to a reservation of a security interest. Subject to these provisions and to the provisions of the chapter on Secured Transactions (chapter 9 of this title), title to goods passes from the seller to the buyer in any manner and on any conditions explicitly agreed to by the parties. (2) Unless otherwise explicitly agreed title passes to the buyer at the time and place at which the seller completes performance with reference to the physical delivery of the goods, despite any reservation of a security interest and even though a document of title is to be delivered at a different time or place; and in particular and despite any reservation of a security interest by the bill of lading: (A) If the contract requires or authorizes the seller to send the goods to the buyer but does not require the seller to deliver them at destination, title passes to the buyer at the time and place of shipment; but (B) If the contract requires delivery at destination, title passes on tender there. (3) Unless otherwise explicitly agreed where delivery is to be made without moving the goods: (A) If the seller is to deliver a tangible document of title, title passes at the time when and the place where he delivers such documents and if the seller is to deliver an electronic document of title, title passes when the seller delivers the document; or (B) If the goods are at the time of contracting already identified and no documents of title are to be delivered, title passes at the time and place of contracting. (4) A rejection or other refusal by the buyer to receive or retain the goods, whether or not justified, or a justified revocation of acceptance revests title to the goods in the seller. Such revesting occurs by operation of law and is not a "sale." Acts 1963, ch. 81, § 1 (2-401); Acts 2008, ch. 814, § 7.
Each provision of this chapter with regard to the rights, obligations and remedies of the seller, the buyer, purchasers or other third parties applies irrespective of title to the goods except where the provision refers to such title. Insofar as situations are not covered by the other provisions of this chapter and matters concerning title become material the following rules apply:
(1) Title to goods cannot pass under a contract for sale prior to their identification to the contract (§ 47-2-501 ), and unless otherwise explicitly agreed the buyer acquires by their identification a special property as limited by chapters 1-9 of this title. Any retention or reservation by the seller of the title (property) in goods shipped or delivered to the buyer is limited in effect to a reservation of a security interest. Subject to these provisions and to the provisions of the chapter on Secured Transactions (chapter 9 of this title), title to goods passes from the seller to the buyer in any manner and on any conditions explicitly agreed to by the parties.
(2) Unless otherwise explicitly agreed title passes to the buyer at the time and place at which the seller completes performance with reference to the physical delivery of the goods, despite any reservation of a security interest and even though a document of title is to be delivered at a different time or place; and in particular and despite any reservation of a security interest by the bill of lading: (A) If the contract requires or authorizes the seller to send the goods to the buyer but does not require the seller to deliver them at destination, title passes to the buyer at the time and place of shipment; but (B) If the contract requires delivery at destination, title passes on tender there.
(A) If the contract requires or authorizes the seller to send the goods to the buyer but does not require the seller to deliver them at destination, title passes to the buyer at the time and place of shipment; but
(B) If the contract requires delivery at destination, title passes on tender there.
(3) Unless otherwise explicitly agreed where delivery is to be made without moving the goods: (A) If the seller is to deliver a tangible document of title, title passes at the time when and the place where he delivers such documents and if the seller is to deliver an electronic document of title, title passes when the seller delivers the document; or (B) If the goods are at the time of contracting already identified and no documents of title are to be delivered, title passes at the time and place of contracting.
(A) If the seller is to deliver a tangible document of title, title passes at the time when and the place where he delivers such documents and if the seller is to deliver an electronic document of title, title passes when the seller delivers the document; or
(B) If the goods are at the time of contracting already identified and no documents of title are to be delivered, title passes at the time and place of contracting.
(4) A rejection or other refusal by the buyer to receive or retain the goods, whether or not justified, or a justified revocation of acceptance revests title to the goods in the seller. Such revesting occurs by operation of law and is not a "sale."
Acts 1963, ch. 81, § 1 (2-401); Acts 2008, ch. 814, § 7.
Tenn. Code Ann. § 47-25-512 — TN Code / Title 47 / Chapter 25 / Section 47-25-512
Infringement
Status: in_force

Subject to § 47-25-516 , any person who does the following is liable in a civil action by the registrant for any and all of the remedies provided in § 47-25-514 , except that under subdivision (2), the registrant is not entitled to recover profits or damages unless the acts have been committed with the intent to cause confusion, mistake, or deception: (1) Uses, without the consent of the registrant, any reproduction, counterfeit, copy, or colorable imitation of a mark registered under this part in connection with the sale, distribution, offering for sale, or advertising of any goods or services on or in connection with which such use is likely to cause confusion, mistake or deception as to the source of origin of such goods or services; (2) Reproduces, counterfeits, copies, or colorably imitates any such mark and applies such reproduction, counterfeit, copy or colorable imitation to labels, signs, prints, packages, wrappers, receptacles, or advertisements intended to be used upon or in connection with the sale or other distribution in this state of such goods or services; (3) Uses the trade name or trademark, or a confusingly similar trade name or trademark, of any bank, savings and loan association, savings bank or subsidiary or affiliate of any bank, saving and loan association, saving bank or subsidiary in a solicitation for the offering of services or products if such use is likely to cause confusion, mistake or deception as to the source of origin, affiliation or sponsorship of such products or services; or, uses the trade name or trademark, or confusingly similar trade name or trademark, of any bank, savings and loan association, savings bank or subsidiary or affiliate of any bank, saving and loan association, saving bank or subsidiary in any manner in a solicitation for the offering of services or products, unless the solicitation clearly and conspicuously states the following in bold-face type on the front page of the solicitation: (A) The name, address and telephone number of the person making the solicitation; (B) A statement that the person making the solicitation is not affiliated with the bank, savings and loan association, savings bank or subsidiary or affiliate of any bank, saving and loan association, saving bank or subsidiary; and (C) A statement that the solicitation is not authorized or sponsored by the bank, savings and loan association, savings bank or subsidiary or affiliate of any bank, saving and loan association, saving bank or subsidiary; (4) Uses the trade name or trademark, or a confusingly similar trade name or trademark of any place of entertainment, or the name of any event, person, or entity scheduled to perform at a place of entertainment in the domain of a ticket marketplace URL. It is not a violation of this subdivision (4) if the ticket marketplace obtained written authorization from the place of entertainment, event, person, or entity scheduled to perform at a place of entertainment to use the trade name, trademark, or name in the domain of the URL prior to the use. For purposes of this subdivision (4): (A) "Domain" means the portion of text in a URL that is to the left of the top-level domains such as .com, .net, or .org; (B) "Place of entertainment" means an entertainment facility in this state, such as a theater, stadium, museum, arena, amphitheater, racetrack, or other place where performances, concerts, exhibits, games, athletic events, or contests are held; (C) "Ticket" means a printed, electronic, or other type of evidence of the right, option, or opportunity to occupy space at, to enter, or to attend a place of entertainment, even if not evidenced by any physical manifestation of the right, option, or opportunity; and (D) "Ticket marketplace" means a website that provides a forum for or facilitates the buying and selling, or reselling, of a ticket; or (5) Uses or displays any combination of text, images, website graphics, website display, or website addresses that are substantially similar to the website of an operator with the intent to mislead a potential purchaser, without written authorization. For purposes of this subdivision (5): (A) "Operator" means an individual, firm, corporation, or other entity, or an agent of such individual, firm, corporation, or other entity that: (i) Owns, operates, or controls a place of entertainment or that promotes or produces a performance, concert, exhibit, game, athletic event, or contest; and (ii) Offers for sale a first sale ticket to the place of entertainment or performance, concert, exhibit, game, athletic event, or contest; and (B) "Place of entertainment" means an entertainment facility in this state, such as a theater, stadium, museum, arena, amphitheater, racetrack, or other place where performances, concerts, exhibits, games, athletic events, or contests are held. Amended by 2023 Tenn. Acts, ch. 474, s 4, eff. 7/1/2023. Amended by 2018 Tenn. Acts, ch. 930, s 3, eff. 5/15/2018. Acts 1982, ch. 698, § 12; T.C.A., §§ 69-540, 47-25-432, 47-25-511; Acts 2000, ch. 671, § 1; 2003 , ch. 31, § 5; 2011 , ch. 89, § 4.
Subject to § 47-25-516 , any person who does the following is liable in a civil action by the registrant for any and all of the remedies provided in § 47-25-514 , except that under subdivision (2), the registrant is not entitled to recover profits or damages unless the acts have been committed with the intent to cause confusion, mistake, or deception:
(1) Uses, without the consent of the registrant, any reproduction, counterfeit, copy, or colorable imitation of a mark registered under this part in connection with the sale, distribution, offering for sale, or advertising of any goods or services on or in connection with which such use is likely to cause confusion, mistake or deception as to the source of origin of such goods or services;
(2) Reproduces, counterfeits, copies, or colorably imitates any such mark and applies such reproduction, counterfeit, copy or colorable imitation to labels, signs, prints, packages, wrappers, receptacles, or advertisements intended to be used upon or in connection with the sale or other distribution in this state of such goods or services;
(3) Uses the trade name or trademark, or a confusingly similar trade name or trademark, of any bank, savings and loan association, savings bank or subsidiary or affiliate of any bank, saving and loan association, saving bank or subsidiary in a solicitation for the offering of services or products if such use is likely to cause confusion, mistake or deception as to the source of origin, affiliation or sponsorship of such products or services; or, uses the trade name or trademark, or confusingly similar trade name or trademark, of any bank, savings and loan association, savings bank or subsidiary or affiliate of any bank, saving and loan association, saving bank or subsidiary in any manner in a solicitation for the offering of services or products, unless the solicitation clearly and conspicuously states the following in bold-face type on the front page of the solicitation: (A) The name, address and telephone number of the person making the solicitation; (B) A statement that the person making the solicitation is not affiliated with the bank, savings and loan association, savings bank or subsidiary or affiliate of any bank, saving and loan association, saving bank or subsidiary; and (C) A statement that the solicitation is not authorized or sponsored by the bank, savings and loan association, savings bank or subsidiary or affiliate of any bank, saving and loan association, saving bank or subsidiary;
(A) The name, address and telephone number of the person making the solicitation;
(B) A statement that the person making the solicitation is not affiliated with the bank, savings and loan association, savings bank or subsidiary or affiliate of any bank, saving and loan association, saving bank or subsidiary; and
(C) A statement that the solicitation is not authorized or sponsored by the bank, savings and loan association, savings bank or subsidiary or affiliate of any bank, saving and loan association, saving bank or subsidiary;
(4) Uses the trade name or trademark, or a confusingly similar trade name or trademark of any place of entertainment, or the name of any event, person, or entity scheduled to perform at a place of entertainment in the domain of a ticket marketplace URL. It is not a violation of this subdivision (4) if the ticket marketplace obtained written authorization from the place of entertainment, event, person, or entity scheduled to perform at a place of entertainment to use the trade name, trademark, or name in the domain of the URL prior to the use. For purposes of this subdivision (4): (A) "Domain" means the portion of text in a URL that is to the left of the top-level domains such as .com, .net, or .org; (B) "Place of entertainment" means an entertainment facility in this state, such as a theater, stadium, museum, arena, amphitheater, racetrack, or other place where performances, concerts, exhibits, games, athletic events, or contests are held; (C) "Ticket" means a printed, electronic, or other type of evidence of the right, option, or opportunity to occupy space at, to enter, or to attend a place of entertainment, even if not evidenced by any physical manifestation of the right, option, or opportunity; and (D) "Ticket marketplace" means a website that provides a forum for or facilitates the buying and selling, or reselling, of a ticket; or
(A) "Domain" means the portion of text in a URL that is to the left of the top-level domains such as .com, .net, or .org;
(B) "Place of entertainment" means an entertainment facility in this state, such as a theater, stadium, museum, arena, amphitheater, racetrack, or other place where performances, concerts, exhibits, games, athletic events, or contests are held;
(C) "Ticket" means a printed, electronic, or other type of evidence of the right, option, or opportunity to occupy space at, to enter, or to attend a place of entertainment, even if not evidenced by any physical manifestation of the right, option, or opportunity; and
(D) "Ticket marketplace" means a website that provides a forum for or facilitates the buying and selling, or reselling, of a ticket; or
(5) Uses or displays any combination of text, images, website graphics, website display, or website addresses that are substantially similar to the website of an operator with the intent to mislead a potential purchaser, without written authorization. For purposes of this subdivision (5): (A) "Operator" means an individual, firm, corporation, or other entity, or an agent of such individual, firm, corporation, or other entity that: (i) Owns, operates, or controls a place of entertainment or that promotes or produces a performance, concert, exhibit, game, athletic event, or contest; and (ii) Offers for sale a first sale ticket to the place of entertainment or performance, concert, exhibit, game, athletic event, or contest; and (B) "Place of entertainment" means an entertainment facility in this state, such as a theater, stadium, museum, arena, amphitheater, racetrack, or other place where performances, concerts, exhibits, games, athletic events, or contests are held.
(A) "Operator" means an individual, firm, corporation, or other entity, or an agent of such individual, firm, corporation, or other entity that: (i) Owns, operates, or controls a place of entertainment or that promotes or produces a performance, concert, exhibit, game, athletic event, or contest; and (ii) Offers for sale a first sale ticket to the place of entertainment or performance, concert, exhibit, game, athletic event, or contest; and
(i) Owns, operates, or controls a place of entertainment or that promotes or produces a performance, concert, exhibit, game, athletic event, or contest; and
(ii) Offers for sale a first sale ticket to the place of entertainment or performance, concert, exhibit, game, athletic event, or contest; and
(B) "Place of entertainment" means an entertainment facility in this state, such as a theater, stadium, museum, arena, amphitheater, racetrack, or other place where performances, concerts, exhibits, games, athletic events, or contests are held.
Amended by 2023 Tenn. Acts, ch. 474, s 4, eff. 7/1/2023.
Amended by 2018 Tenn. Acts, ch. 930, s 3, eff. 5/15/2018.
Acts 1982, ch. 698, § 12; T.C.A., §§ 69-540, 47-25-432, 47-25-511; Acts 2000, ch. 671, § 1; 2003 , ch. 31, § 5; 2011 , ch. 89, § 4.
Tenn. Code Ann. § 47-26-921 — TN Code / Title 47 / Chapter 26 / Section 47-26-921
Prohibited acts
Status: in_force

(a) Any person who, personally or by a servant or agent, or as the servant or agent of another person, performs any of the acts enumerated in this section commits a Class C misdemeanor. (b) No person shall: (1) Use or have in possession for use in commerce any incorrect weight or measure; (2) Sell or offer for sale for use in commerce any incorrect weight or measure; (3) Remove any tag, seal, or mark from any weight or measure without specific authorization from the proper authority; (4) Hinder or obstruct any weights and measures official in the performance of the official's duties; or (5) Violate any provisions of this part or regulations promulgated under it; (6) Impersonate the commissioner, representative, or sealer; (7) Dispose of any rejected or condemned weight or measure in a manner contrary to law or regulation; (8) Sell or offer or expose for sale, less than the quantity such person represents of any commodity, thing or service; (9) Take more than the quantity such person represents of any commodity, thing or service when, as buyer, such person furnishes the weight and measure by means of which the amount of the commodity, thing or service is determined; (10) Keep for the purpose of sale, advertise or offer or expose for sale, or sell any commodity, thing or service in a condition or manner contrary to law or regulation; (11) Use in retail trade, except in the preparation of packages put up in advance of sale and of medical prescriptions, a weight or measure that is not so positioned that its indications may be accurately read and the weighing or measuring operation observed from some position which may reasonably be assumed by a customer unless the consumer receives a label or ticket printed by the device that includes a declaration of net weight, unit price, and tare weight that has been deducted to obtain the net weight. Acts 1997, ch. 311, § 1.
(a) Any person who, personally or by a servant or agent, or as the servant or agent of another person, performs any of the acts enumerated in this section commits a Class C misdemeanor.
(b) No person shall: (1) Use or have in possession for use in commerce any incorrect weight or measure; (2) Sell or offer for sale for use in commerce any incorrect weight or measure; (3) Remove any tag, seal, or mark from any weight or measure without specific authorization from the proper authority; (4) Hinder or obstruct any weights and measures official in the performance of the official's duties; or (5) Violate any provisions of this part or regulations promulgated under it; (6) Impersonate the commissioner, representative, or sealer; (7) Dispose of any rejected or condemned weight or measure in a manner contrary to law or regulation; (8) Sell or offer or expose for sale, less than the quantity such person represents of any commodity, thing or service; (9) Take more than the quantity such person represents of any commodity, thing or service when, as buyer, such person furnishes the weight and measure by means of which the amount of the commodity, thing or service is determined; (10) Keep for the purpose of sale, advertise or offer or expose for sale, or sell any commodity, thing or service in a condition or manner contrary to law or regulation; (11) Use in retail trade, except in the preparation of packages put up in advance of sale and of medical prescriptions, a weight or measure that is not so positioned that its indications may be accurately read and the weighing or measuring operation observed from some position which may reasonably be assumed by a customer unless the consumer receives a label or ticket printed by the device that includes a declaration of net weight, unit price, and tare weight that has been deducted to obtain the net weight.
(1) Use or have in possession for use in commerce any incorrect weight or measure;
(2) Sell or offer for sale for use in commerce any incorrect weight or measure;
(3) Remove any tag, seal, or mark from any weight or measure without specific authorization from the proper authority;
(4) Hinder or obstruct any weights and measures official in the performance of the official's duties; or
(5) Violate any provisions of this part or regulations promulgated under it;
(6) Impersonate the commissioner, representative, or sealer;
(7) Dispose of any rejected or condemned weight or measure in a manner contrary to law or regulation;
(8) Sell or offer or expose for sale, less than the quantity such person represents of any commodity, thing or service;
(9) Take more than the quantity such person represents of any commodity, thing or service when, as buyer, such person furnishes the weight and measure by means of which the amount of the commodity, thing or service is determined;
(10) Keep for the purpose of sale, advertise or offer or expose for sale, or sell any commodity, thing or service in a condition or manner contrary to law or regulation;
(11) Use in retail trade, except in the preparation of packages put up in advance of sale and of medical prescriptions, a weight or measure that is not so positioned that its indications may be accurately read and the weighing or measuring operation observed from some position which may reasonably be assumed by a customer unless the consumer receives a label or ticket printed by the device that includes a declaration of net weight, unit price, and tare weight that has been deducted to obtain the net weight.
Acts 1997, ch. 311, § 1.
Tenn. Code Ann. § 47-2-203 — TN Code / Title 47 / Chapter 2 / Section 47-2-203
Seals inoperative
Status: in_force

The affixing of a seal to a writing evidencing a contract for sale or an offer to buy or sell goods does not constitute the writing a sealed instrument and the law with respect to sealed instruments does not apply to such a contract or offer. Acts 1963, ch. 81, § 1 (2-203).
The affixing of a seal to a writing evidencing a contract for sale or an offer to buy or sell goods does not constitute the writing a sealed instrument and the law with respect to sealed instruments does not apply to such a contract or offer.
Acts 1963, ch. 81, § 1 (2-203).
Tenn. Code Ann. § 47-18-5516 — TN Code / Title 47 / Chapter 18 / Section 47-18-5516
Customer service
Status: in_force

A provider that is required to be registered under this part shall maintain a toll-free communication system, staffed at a level that reasonably permits an individual to speak to a certified counselor, certified debt specialist or customer-service representative, as appropriate, during ordinary business hours. Acts 2009, ch. 469, § 1.
A provider that is required to be registered under this part shall maintain a toll-free communication system, staffed at a level that reasonably permits an individual to speak to a certified counselor, certified debt specialist or customer-service representative, as appropriate, during ordinary business hours.
Acts 2009, ch. 469, § 1.
Tenn. Code Ann. § 47-2a-506 — TN Code / Title 47 / Chapter 2a / Section 47-2a-506
2024 Tennessee Code Title 47 - COMMERCIAL INSTRUMENTS AND TRANSACTIONS (§§ 47-1-101 — 47-50-121) Chapter 2A - LEASES (§§ 47-2A-101 — 47-2A-532) Part 5 - DEFAULT (§§ 47-2A-501 — 47-2A-532) A. IN GENERAL (§§ 47-2A-501 — 47-2A-507) Section 47-2A-506 - Statute of limitations
Status: in_force

(1) An action for default under a lease contract, including breach of warranty or indemnity, must be commenced within four (4) years after the cause of action accrued. By the original lease contract the parties may reduce the period of limitation to not less than one (1) year. (2) A cause of action for default accrues when the act or omission on which the default or breach of warranty is based is or should have been discovered by the aggrieved party, or when the default occurs, whichever is later. A cause of action for indemnity accrues when the act or omission on which the claim for indemnity is based is or should have been discovered by the indemnified party, whichever is later. (3) When an action is commenced within the time limited by subsection (1), but the judgment or decree is rendered against the plaintiff upon any ground not concluding his right of action, or when the judgment or decree is rendered in favor of plaintiff, and is arrested or reversed on appeal, the plaintiff or his representatives or privies as the case may be, may, from time to time, commence a new action within one (1) year after judgment, reversal or arrest. (4) This section does not alter the law on tolling of the statute of limitations nor does it apply to causes of action that have accrued before this chapter becomes effective. (5) A counterclaim or third-party complaint is not barred by the statute of limitations provided by this section if it was not barred at the time the claims asserted in the complaint were interposed. If a nonsuit is taken as to the original civil action, any counterclaim, cross-claim or third-party complaint arising from such action shall not be terminated but may proceed as an original civil action. However, if a counterclaim, cross-claim or third-party complaint is filed as a civil action as permitted by this subsection and such action does not proceed to an adjudication on the merits of such claim, the defendant shall have the right to file a counterclaim, cross-claim or third-party complaint within the time allowed for filing of a responsive pleading only if the original action is reinstituted pursuant to § 28-1-105 . Any counterclaim, cross-claim or third-party complaint arising from an action or suit originally commenced in general sessions court and subsequently recommenced as an original action or as a counterclaim, cross-claim or third-party complaint pursuant to this section in circuit or chancery court according to the provisions of § 28-1-105 , shall not be subject to the monetary jurisdictional limit originally imposed in general sessions court. Acts 1993, ch. 398, § 1.
(1) An action for default under a lease contract, including breach of warranty or indemnity, must be commenced within four (4) years after the cause of action accrued. By the original lease contract the parties may reduce the period of limitation to not less than one (1) year.
(2) A cause of action for default accrues when the act or omission on which the default or breach of warranty is based is or should have been discovered by the aggrieved party, or when the default occurs, whichever is later. A cause of action for indemnity accrues when the act or omission on which the claim for indemnity is based is or should have been discovered by the indemnified party, whichever is later.
(3) When an action is commenced within the time limited by subsection (1), but the judgment or decree is rendered against the plaintiff upon any ground not concluding his right of action, or when the judgment or decree is rendered in favor of plaintiff, and is arrested or reversed on appeal, the plaintiff or his representatives or privies as the case may be, may, from time to time, commence a new action within one (1) year after judgment, reversal or arrest.
(4) This section does not alter the law on tolling of the statute of limitations nor does it apply to causes of action that have accrued before this chapter becomes effective.
(5) A counterclaim or third-party complaint is not barred by the statute of limitations provided by this section if it was not barred at the time the claims asserted in the complaint were interposed. If a nonsuit is taken as to the original civil action, any counterclaim, cross-claim or third-party complaint arising from such action shall not be terminated but may proceed as an original civil action. However, if a counterclaim, cross-claim or third-party complaint is filed as a civil action as permitted by this subsection and such action does not proceed to an adjudication on the merits of such claim, the defendant shall have the right to file a counterclaim, cross-claim or third-party complaint within the time allowed for filing of a responsive pleading only if the original action is reinstituted pursuant to § 28-1-105 . Any counterclaim, cross-claim or third-party complaint arising from an action or suit originally commenced in general sessions court and subsequently recommenced as an original action or as a counterclaim, cross-claim or third-party complaint pursuant to this section in circuit or chancery court according to the provisions of § 28-1-105 , shall not be subject to the monetary jurisdictional limit originally imposed in general sessions court.
Acts 1993, ch. 398, § 1.
Tenn. Code Ann. § 47-26-902 — TN Code / Title 47 / Chapter 26 / Section 47-26-902
Part definitions
Status: in_force

As used in this part, unless the context otherwise requires: (1) "Accurate" means a piece of equipment when its performance or value-that is, its indications, its deliveries, its recorded representations, or its capacity or actual value, etc., as determined by tests, made with suitable standards-conforms to the standard within the applicable tolerances and other performance requirements. Equipment that fails so to conform is "inaccurate"; (2) "Commercial weighing and measuring equipment" means weights and measures and weighing and measuring devices commercially used or employed in establishing the size, quantity, extent, area, or measurement of quantities, things, produce, or articles for distribution or consumption, purchased, offered, or submitted for sale, hire, or award, or in computing any basic charge or payment for services rendered on the basis of weight or measure; (3) "Commissioner" or "state sealer" means the commissioner of agriculture or the commissioner's duly appointed representative; (4) "Cord" means the amount of wood that is contained in a space of one hundred twenty eight (128) cubic feet when the wood is ranked and well stowed. For the purpose of this part, "ranked and well stowed" means that pieces of wood are placed in a line or row, with individual pieces touching and parallel to each other, and stacked in a compact manner; (5) "Correct" as used in connection with weights and measures means conformance to all applicable requirements of this part; (6) "Department" means the Tennessee department of agriculture; (7) "Handbook 44" means National Institute of Standards and Technology Handbook 44, "Specifications, Tolerances, And Other Technical Requirements For Weighing And Measuring Devices"; (8) "International System of Units (SI)" means the modernized metric system as established in 1960 by the general Conference on Weights and Measures and interpreted or modified for the United States by the secretary of commerce; (9) "Net weight" means the weight of a commodity excluding any materials, substances, or items not considered to be part of the commodity. Materials, substances, or items not considered to be part of the commodity include, but are not limited to, containers, conveyances, bags, wrappers, packaging materials, labels, individual piece coverings, decorative accompaniments, and coupons, except that, depending on the type of service rendered, packaging materials may be considered to be part of the service. For example, the service of shipping includes the weight of packing materials; (10) "NIST" means the National Institute of Standards and Technology which is an agency of the United States department of commerce; (11) "Package," whether standard package or random package, means any commodity: (A) Enclosed in a container or wrapped in any manner in advance of wholesale or retail sale; or (B) Whose weight or measure has been determined in advance of wholesale or retail sale. An individual item or lot of any commodity on which there is marked a selling price based on an established price per unit of weight or of measure, shall be considered a package (or packages); (12) "Person" means both plural and the singular, as the case demands, and includes individuals, partnerships, corporations, companies, societies, and associations; (13) "Primary standards" means the physical standards of the state that serve as the legal reference from which all other standards and weights are derived; (14) "Random weight package" means a package that is one of a lot, shipment, or delivery of packages of the same commodity with no fixed pattern of weights; (15) "Sale from bulk" means the sale of commodities when the quantity is determined at the time of sale; (16) "Secondary standards" means the physical standards that are traceable to the primary standards through comparisons, using acceptable laboratory procedures, and used in the enforcement of weights and measures laws and regulations; (17) "Standard weight package" means a package that is one of a lot, shipment, or delivery of packages of the same commodity with identical net contents declarations; for example, 1-liter bottles or 12 fl. oz. cans of carbonated soda; 500 g. or 5 lb. bags of sugar; 100 m. or 300 ft. packages of rope; (18) "State" means state of Tennessee; (19) "Ton" means a unit of two thousand pounds (2,000 lbs.) avoirdupois weight; (20) "Weight" as used in connection with any commodity or service means net weight. When a commodity is sold by drained weight, "weight" means net drained weight; and (21) "Weight(s) and (or) measure(s)" means all weights and measures of every kind, instruments and devices for weighing and measuring, and any appliance and accessories associated with any or all such instruments and devices. Acts 1997, ch. 311, § 1.
As used in this part, unless the context otherwise requires:
(1) "Accurate" means a piece of equipment when its performance or value-that is, its indications, its deliveries, its recorded representations, or its capacity or actual value, etc., as determined by tests, made with suitable standards-conforms to the standard within the applicable tolerances and other performance requirements. Equipment that fails so to conform is "inaccurate";
(2) "Commercial weighing and measuring equipment" means weights and measures and weighing and measuring devices commercially used or employed in establishing the size, quantity, extent, area, or measurement of quantities, things, produce, or articles for distribution or consumption, purchased, offered, or submitted for sale, hire, or award, or in computing any basic charge or payment for services rendered on the basis of weight or measure;
(3) "Commissioner" or "state sealer" means the commissioner of agriculture or the commissioner's duly appointed representative;
(4) "Cord" means the amount of wood that is contained in a space of one hundred twenty eight (128) cubic feet when the wood is ranked and well stowed. For the purpose of this part, "ranked and well stowed" means that pieces of wood are placed in a line or row, with individual pieces touching and parallel to each other, and stacked in a compact manner;
(5) "Correct" as used in connection with weights and measures means conformance to all applicable requirements of this part;
(6) "Department" means the Tennessee department of agriculture;
(7) "Handbook 44" means National Institute of Standards and Technology Handbook 44, "Specifications, Tolerances, And Other Technical Requirements For Weighing And Measuring Devices";
(8) "International System of Units (SI)" means the modernized metric system as established in 1960 by the general Conference on Weights and Measures and interpreted or modified for the United States by the secretary of commerce;
(9) "Net weight" means the weight of a commodity excluding any materials, substances, or items not considered to be part of the commodity. Materials, substances, or items not considered to be part of the commodity include, but are not limited to, containers, conveyances, bags, wrappers, packaging materials, labels, individual piece coverings, decorative accompaniments, and coupons, except that, depending on the type of service rendered, packaging materials may be considered to be part of the service. For example, the service of shipping includes the weight of packing materials;
(10) "NIST" means the National Institute of Standards and Technology which is an agency of the United States department of commerce;
(11) "Package," whether standard package or random package, means any commodity: (A) Enclosed in a container or wrapped in any manner in advance of wholesale or retail sale; or (B) Whose weight or measure has been determined in advance of wholesale or retail sale. An individual item or lot of any commodity on which there is marked a selling price based on an established price per unit of weight or of measure, shall be considered a package (or packages);
(A) Enclosed in a container or wrapped in any manner in advance of wholesale or retail sale; or
(B) Whose weight or measure has been determined in advance of wholesale or retail sale. An individual item or lot of any commodity on which there is marked a selling price based on an established price per unit of weight or of measure, shall be considered a package (or packages);
An individual item or lot of any commodity on which there is marked a selling price based on an established price per unit of weight or of measure, shall be considered a package (or packages);
(12) "Person" means both plural and the singular, as the case demands, and includes individuals, partnerships, corporations, companies, societies, and associations;
(13) "Primary standards" means the physical standards of the state that serve as the legal reference from which all other standards and weights are derived;
(14) "Random weight package" means a package that is one of a lot, shipment, or delivery of packages of the same commodity with no fixed pattern of weights;
(15) "Sale from bulk" means the sale of commodities when the quantity is determined at the time of sale;
(16) "Secondary standards" means the physical standards that are traceable to the primary standards through comparisons, using acceptable laboratory procedures, and used in the enforcement of weights and measures laws and regulations;
(17) "Standard weight package" means a package that is one of a lot, shipment, or delivery of packages of the same commodity with identical net contents declarations; for example, 1-liter bottles or 12 fl. oz. cans of carbonated soda; 500 g. or 5 lb. bags of sugar; 100 m. or 300 ft. packages of rope;
(18) "State" means state of Tennessee;
(19) "Ton" means a unit of two thousand pounds (2,000 lbs.) avoirdupois weight;
(20) "Weight" as used in connection with any commodity or service means net weight. When a commodity is sold by drained weight, "weight" means net drained weight; and
(21) "Weight(s) and (or) measure(s)" means all weights and measures of every kind, instruments and devices for weighing and measuring, and any appliance and accessories associated with any or all such instruments and devices.
Acts 1997, ch. 311, § 1.
Tenn. Code Ann. § 47-25-1910 — TN Code / Title 47 / Chapter 25 / Section 47-25-1910
Death of retailer or major stockholder - Repurchase option of heirs - Succession
Status: in_force

(a) In the event of the death of the dealer or the majority stockholder of a corporation operating as a dealer, the supplier shall, at the option of the heir or heirs, repurchase the inventory from the heir or heirs of the dealer or majority stockholder as if the supplier had terminated the contract. The heir or heirs shall have one (1) year from the date of the death of the dealer or majority stockholder to exercise their options under this part. Nothing in this part shall require the repurchase of any inventory if the heir or heirs and the supplier enter into a new contract retail agreement to operate the retail dealership. (b) A supplier shall have ninety (90) days in which to consider and make a determination upon a request by a family member to enter into a new retail agreement to operate the retail dealership. As used in this subsection (b), "family member" means a spouse, child, son-in-law, daughter-in-law or lineal descendant of the dealer or principal owner of the dealership. In the event the supplier determines that the requesting family member is not acceptable, the supplier shall provide the family member with a written notice of its determination with the stated reasons for nonacceptance. This section does not entitle an heir, personal representative or family member to operate a dealership without the specific written consent of the supplier. (c) Notwithstanding this section, in the event that a supplier and a dealer have previously executed an agreement concerning succession rights prior to the dealer's death and, if the agreement has not been revoked, the agreement shall be observed even if it designates someone other than the surviving spouse or heirs of the decedent as the successor. Acts 2007, ch. 188, § 11.
(a) In the event of the death of the dealer or the majority stockholder of a corporation operating as a dealer, the supplier shall, at the option of the heir or heirs, repurchase the inventory from the heir or heirs of the dealer or majority stockholder as if the supplier had terminated the contract. The heir or heirs shall have one (1) year from the date of the death of the dealer or majority stockholder to exercise their options under this part. Nothing in this part shall require the repurchase of any inventory if the heir or heirs and the supplier enter into a new contract retail agreement to operate the retail dealership.
(b) A supplier shall have ninety (90) days in which to consider and make a determination upon a request by a family member to enter into a new retail agreement to operate the retail dealership. As used in this subsection (b), "family member" means a spouse, child, son-in-law, daughter-in-law or lineal descendant of the dealer or principal owner of the dealership. In the event the supplier determines that the requesting family member is not acceptable, the supplier shall provide the family member with a written notice of its determination with the stated reasons for nonacceptance. This section does not entitle an heir, personal representative or family member to operate a dealership without the specific written consent of the supplier.
(c) Notwithstanding this section, in the event that a supplier and a dealer have previously executed an agreement concerning succession rights prior to the dealer's death and, if the agreement has not been revoked, the agreement shall be observed even if it designates someone other than the surviving spouse or heirs of the decedent as the successor.
Acts 2007, ch. 188, § 11.
Tenn. Code Ann. § 47-26-1104 — TN Code / Title 47 / Chapter 26 / Section 47-26-1104
Registration
Status: in_force

(a) An individual or agency qualified by training or experience must apply for registration to service weighing or measuring devices only on an application form supplied by the commissioner. It shall be the individual's or agency's responsibility to request the application form prior to servicing weighing and measuring devices. No person or firm shall engage in this state in the business of installing, servicing, repairing, or reconditioning a commercial weighing or measuring device, without first having registered to do so in accordance with this part. A local, state, or federal government weights and measures regulatory employee shall not be eligible for registration. The form, duly signed and witnessed, shall include certification by the applicant that the individual or agency is fully qualified to install, service, repair, or recondition whatever devices for the service of which competence is being registered; has in possession or available for use, and shall use, all necessary testing equipment and standards; and has full knowledge of all appropriate weights and measures laws, orders, rules, regulations and has a copy of the most recent edition of National Institute of Standards and Technology Handbook 44 or document that replaces it. The commissioner may also determine the qualifications of the applicant based on the results of an examination of the applicant's knowledge. An applicant also shall submit appropriate evidence or references as to qualifications. However, any individual or agency applying for registration to service weighing or measuring devices that has been licensed for the last five (5) consecutive years immediately prior to examination and has not been in violation of any laws, rules, or regulations pertaining to the duties or responsibilities of a registered serviceperson or registered service agency shall be exempt from such examination. The commissioner is authorized to reject or limit any application. (b) Those individuals or agencies that provide such service to commercial weighing and measuring devices that do not affect the accuracy of measurement of the device, accuracy of charges or fees derived by the use of the device, or the metrological integrity of the device, need not be, but may choose to become, registered with this department. Examples of those services include, but are not limited to, replacement of hoses or nozzles on petroleum dispensers, repairs of leaks around couplings, fittings, etc. Acts 1997, ch. 311, § 3; 1998, ch. 598, § 1.
(a) An individual or agency qualified by training or experience must apply for registration to service weighing or measuring devices only on an application form supplied by the commissioner. It shall be the individual's or agency's responsibility to request the application form prior to servicing weighing and measuring devices. No person or firm shall engage in this state in the business of installing, servicing, repairing, or reconditioning a commercial weighing or measuring device, without first having registered to do so in accordance with this part. A local, state, or federal government weights and measures regulatory employee shall not be eligible for registration. The form, duly signed and witnessed, shall include certification by the applicant that the individual or agency is fully qualified to install, service, repair, or recondition whatever devices for the service of which competence is being registered; has in possession or available for use, and shall use, all necessary testing equipment and standards; and has full knowledge of all appropriate weights and measures laws, orders, rules, regulations and has a copy of the most recent edition of National Institute of Standards and Technology Handbook 44 or document that replaces it. The commissioner may also determine the qualifications of the applicant based on the results of an examination of the applicant's knowledge. An applicant also shall submit appropriate evidence or references as to qualifications. However, any individual or agency applying for registration to service weighing or measuring devices that has been licensed for the last five (5) consecutive years immediately prior to examination and has not been in violation of any laws, rules, or regulations pertaining to the duties or responsibilities of a registered serviceperson or registered service agency shall be exempt from such examination. The commissioner is authorized to reject or limit any application.
(b) Those individuals or agencies that provide such service to commercial weighing and measuring devices that do not affect the accuracy of measurement of the device, accuracy of charges or fees derived by the use of the device, or the metrological integrity of the device, need not be, but may choose to become, registered with this department. Examples of those services include, but are not limited to, replacement of hoses or nozzles on petroleum dispensers, repairs of leaks around couplings, fittings, etc.
Acts 1997, ch. 311, § 3; 1998, ch. 598, § 1.
Tenn. Code Ann. § 47-7-501 — TN Code / Title 47 / Chapter 7 / Section 47-7-501
Form of negotiation and requirements of due negotiation
Status: in_force

(a) The following rules apply to a negotiable tangible document of title: (1) If the document's original terms run to the order of a named person, the document is negotiated by the named person's indorsement and delivery. After the named person's indorsement in blank or to bearer, any person may negotiate the document by delivery alone; (2) If the document's original terms run to bearer, it is negotiated by delivery alone; (3) If the document's original terms run to the order of a named person and it is delivered to the named person, the effect is the same as if the document had been negotiated; (4) Negotiation of the document after it has been indorsed to a named person requires indorsement by the named person and delivery; and (5) A document is duly negotiated if it is negotiated in the manner stated in this subsection (a) to a holder that purchases it in good faith, without notice of any defense against or claim to it on the part of any person, and for value, unless it is established that the negotiation is not in the regular course of business or financing or involves receiving the document in settlement or payment of a monetary obligation. (b) The following rules apply to a negotiable electronic document of title: (1) If the document's original terms run to the order of a named person or to bearer, the document is negotiated by delivery of the document to another person. Indorsement by the named person is not required to negotiate the document; (2) If the document's original terms run to the order of a named person and the named person has control of the document, the effect is the same as if the document had been negotiated; and (3) A document is duly negotiated if it is negotiated in the manner stated in this subsection (b) to a holder that purchases it in good faith, without notice of any defense against or claim to it on the part of any person, and for value, unless it is established that the negotiation is not in the regular course of business or financing or involves taking delivery of the document in settlement or payment of a monetary obligation. (c) Indorsement of a nonnegotiable document of title neither makes it negotiable nor adds to the transferee's rights. (d) The naming in a negotiable bill of lading of a person to be notified of the arrival of the goods does not limit the negotiability of the bill or constitute notice to a purchaser of the bill of any interest of that person in the goods. Acts 2008, ch. 814, § 1.
(a) The following rules apply to a negotiable tangible document of title: (1) If the document's original terms run to the order of a named person, the document is negotiated by the named person's indorsement and delivery. After the named person's indorsement in blank or to bearer, any person may negotiate the document by delivery alone; (2) If the document's original terms run to bearer, it is negotiated by delivery alone; (3) If the document's original terms run to the order of a named person and it is delivered to the named person, the effect is the same as if the document had been negotiated; (4) Negotiation of the document after it has been indorsed to a named person requires indorsement by the named person and delivery; and (5) A document is duly negotiated if it is negotiated in the manner stated in this subsection (a) to a holder that purchases it in good faith, without notice of any defense against or claim to it on the part of any person, and for value, unless it is established that the negotiation is not in the regular course of business or financing or involves receiving the document in settlement or payment of a monetary obligation.
(1) If the document's original terms run to the order of a named person, the document is negotiated by the named person's indorsement and delivery. After the named person's indorsement in blank or to bearer, any person may negotiate the document by delivery alone;
(2) If the document's original terms run to bearer, it is negotiated by delivery alone;
(3) If the document's original terms run to the order of a named person and it is delivered to the named person, the effect is the same as if the document had been negotiated;
(4) Negotiation of the document after it has been indorsed to a named person requires indorsement by the named person and delivery; and
(5) A document is duly negotiated if it is negotiated in the manner stated in this subsection (a) to a holder that purchases it in good faith, without notice of any defense against or claim to it on the part of any person, and for value, unless it is established that the negotiation is not in the regular course of business or financing or involves receiving the document in settlement or payment of a monetary obligation.
(b) The following rules apply to a negotiable electronic document of title: (1) If the document's original terms run to the order of a named person or to bearer, the document is negotiated by delivery of the document to another person. Indorsement by the named person is not required to negotiate the document; (2) If the document's original terms run to the order of a named person and the named person has control of the document, the effect is the same as if the document had been negotiated; and (3) A document is duly negotiated if it is negotiated in the manner stated in this subsection (b) to a holder that purchases it in good faith, without notice of any defense against or claim to it on the part of any person, and for value, unless it is established that the negotiation is not in the regular course of business or financing or involves taking delivery of the document in settlement or payment of a monetary obligation.
(1) If the document's original terms run to the order of a named person or to bearer, the document is negotiated by delivery of the document to another person. Indorsement by the named person is not required to negotiate the document;
(2) If the document's original terms run to the order of a named person and the named person has control of the document, the effect is the same as if the document had been negotiated; and
(3) A document is duly negotiated if it is negotiated in the manner stated in this subsection (b) to a holder that purchases it in good faith, without notice of any defense against or claim to it on the part of any person, and for value, unless it is established that the negotiation is not in the regular course of business or financing or involves taking delivery of the document in settlement or payment of a monetary obligation.
(c) Indorsement of a nonnegotiable document of title neither makes it negotiable nor adds to the transferee's rights.
(d) The naming in a negotiable bill of lading of a person to be notified of the arrival of the goods does not limit the negotiability of the bill or constitute notice to a purchaser of the bill of any interest of that person in the goods.
Acts 2008, ch. 814, § 1.
Tenn. Code Ann. § 47-26-1008 — TN Code / Title 47 / Chapter 26 / Section 47-26-1008
Annual license cost
Status: in_force

The annual cost for a public weighmaster license shall be set by rule pursuant to § 43-1-703 . Amended by 2015 Tenn. Acts, ch. 485,s 28, eff. 7/1/2015. Acts 1997, ch. 311, § 2; 2002, ch. 640, § 21.
The annual cost for a public weighmaster license shall be set by rule pursuant to § 43-1-703 .
Amended by 2015 Tenn. Acts, ch. 485,s 28, eff. 7/1/2015.
Acts 1997, ch. 311, § 2; 2002, ch. 640, § 21.
Tenn. Code Ann. § 47-30-108 — TN Code / Title 47 / Chapter 30 / Section 47-30-108
Amount owed by borrower when loan is due - Enforcement of debt
Status: in_force

(a) When a reverse mortgage loan, other than a Fannie Mae Reverse Mortgage Loan, becomes due, if the borrower mortgaged one hundred percent (100%) of the full value of the house, then the amount owed by the borrower shall not be greater than: (1) The fair market value of the house, minus sale costs; or (2) The outstanding balance of the loan, whichever amount is less. (b) If the borrower mortgaged less than one hundred percent (100%) of the full value of the house, the amount owed by the borrower shall not be greater than: (1) The outstanding balance of the loan; or (2) The percentage of the fair market value, minus sale costs, as provided in the contract; whichever amount is less. (c) The lender shall enforce the debt only through the sale of the property and shall not obtain a deficiency judgment against the borrower. Acts 1993, ch. 410, §9; 1997 , ch. 286, § 7.
(a) When a reverse mortgage loan, other than a Fannie Mae Reverse Mortgage Loan, becomes due, if the borrower mortgaged one hundred percent (100%) of the full value of the house, then the amount owed by the borrower shall not be greater than: (1) The fair market value of the house, minus sale costs; or (2) The outstanding balance of the loan, whichever amount is less.
(1) The fair market value of the house, minus sale costs; or
(2) The outstanding balance of the loan, whichever amount is less.
whichever amount is less.
(b) If the borrower mortgaged less than one hundred percent (100%) of the full value of the house, the amount owed by the borrower shall not be greater than: (1) The outstanding balance of the loan; or (2) The percentage of the fair market value, minus sale costs, as provided in the contract; whichever amount is less.
(1) The outstanding balance of the loan; or
(2) The percentage of the fair market value, minus sale costs, as provided in the contract; whichever amount is less.
whichever amount is less.
(c) The lender shall enforce the debt only through the sale of the property and shall not obtain a deficiency judgment against the borrower.
Acts 1993, ch. 410, §9; 1997 , ch. 286, § 7.
Tenn. Code Ann. § 47-26-1115 — TN Code / Title 47 / Chapter 26 / Section 47-26-1115
Restraining orders and injunctions
Status: in_force

The commissioner is authorized to apply to any court of competent jurisdiction for a restraining order, or a temporary or permanent injunction, restraining any person from violating any provision of this part. Acts 1997, ch. 311, § 3.
The commissioner is authorized to apply to any court of competent jurisdiction for a restraining order, or a temporary or permanent injunction, restraining any person from violating any provision of this part.
Acts 1997, ch. 311, § 3.
Tenn. Code Ann. § 47-25-803 — TN Code / Title 47 / Chapter 25 / Section 47-25-803
Agreement between promoter and sponsor - Terms and conditions
Status: in_force

(a) No promoter shall sell, offer for sale, or otherwise publish or distribute any coupon without a prior contract or agreement in writing with the coupon sponsor. A copy of such contract shall be furnished to the sponsor at the time of its execution, and shall set forth all terms and conditions under which coupons obligating the sponsor may be published, distributed, or sold and include the following: (1) A specific description, exactly as it is to appear on the coupon, of: (A) The goods, services, or discount privileges which the sponsor will provide in exchange for each coupon presented for redemption; (B) The hours during each day and the days during each week when the coupon will be accepted for redemption by the sponsor; (C) The expiration date of the coupon; and (D) All purchases required of a coupon holder as a condition of redemption and any other restrictions or limitations imposed on the redemption of the coupons by the sponsor; (2) The maximum number of coupons which may be printed, issued, distributed, or sold by the promoter; (3) The beginning and ending dates of the promotion, before and after which no coupons may be sold or distributed; (4) The amount or percentage of funds, if any, to be returned to the sponsor from the sale of coupons; (5) The personal and business name and address of the promoter executing the contract. Nonresidents shall include their permanent address in their state of residence; and (6) A statement that the coupon sales promotion is regulated by the "Tennessee Coupon Sales Promotion Act." (b) The promoter shall not represent, either directly or by implication, that the number of coupons presented to the sponsor for redemption will be less than the total number of coupons printed, sold, or distributed, or make any promises or representation inconsistent with or contrary to the terms of the written contract between the promoter and sponsor. Acts 1980, ch. 718, § 3; T.C.A., § 69-903.
(a) No promoter shall sell, offer for sale, or otherwise publish or distribute any coupon without a prior contract or agreement in writing with the coupon sponsor. A copy of such contract shall be furnished to the sponsor at the time of its execution, and shall set forth all terms and conditions under which coupons obligating the sponsor may be published, distributed, or sold and include the following: (1) A specific description, exactly as it is to appear on the coupon, of: (A) The goods, services, or discount privileges which the sponsor will provide in exchange for each coupon presented for redemption; (B) The hours during each day and the days during each week when the coupon will be accepted for redemption by the sponsor; (C) The expiration date of the coupon; and (D) All purchases required of a coupon holder as a condition of redemption and any other restrictions or limitations imposed on the redemption of the coupons by the sponsor; (2) The maximum number of coupons which may be printed, issued, distributed, or sold by the promoter; (3) The beginning and ending dates of the promotion, before and after which no coupons may be sold or distributed; (4) The amount or percentage of funds, if any, to be returned to the sponsor from the sale of coupons; (5) The personal and business name and address of the promoter executing the contract. Nonresidents shall include their permanent address in their state of residence; and (6) A statement that the coupon sales promotion is regulated by the "Tennessee Coupon Sales Promotion Act."
(1) A specific description, exactly as it is to appear on the coupon, of: (A) The goods, services, or discount privileges which the sponsor will provide in exchange for each coupon presented for redemption; (B) The hours during each day and the days during each week when the coupon will be accepted for redemption by the sponsor; (C) The expiration date of the coupon; and (D) All purchases required of a coupon holder as a condition of redemption and any other restrictions or limitations imposed on the redemption of the coupons by the sponsor;
(A) The goods, services, or discount privileges which the sponsor will provide in exchange for each coupon presented for redemption;
(B) The hours during each day and the days during each week when the coupon will be accepted for redemption by the sponsor;
(C) The expiration date of the coupon; and
(D) All purchases required of a coupon holder as a condition of redemption and any other restrictions or limitations imposed on the redemption of the coupons by the sponsor;
(2) The maximum number of coupons which may be printed, issued, distributed, or sold by the promoter;
(3) The beginning and ending dates of the promotion, before and after which no coupons may be sold or distributed;
(4) The amount or percentage of funds, if any, to be returned to the sponsor from the sale of coupons;
(5) The personal and business name and address of the promoter executing the contract. Nonresidents shall include their permanent address in their state of residence; and
(6) A statement that the coupon sales promotion is regulated by the "Tennessee Coupon Sales Promotion Act."
(b) The promoter shall not represent, either directly or by implication, that the number of coupons presented to the sponsor for redemption will be less than the total number of coupons printed, sold, or distributed, or make any promises or representation inconsistent with or contrary to the terms of the written contract between the promoter and sponsor.
Acts 1980, ch. 718, § 3; T.C.A., § 69-903.
Tenn. Code Ann. § 47-18-5511 — TN Code / Title 47 / Chapter 18 / Section 47-18-5511
Renewal of registration
Status: in_force

(a) A provider must obtain a renewal of its registration annually. (b) An application for renewal of registration as a provider must be in a form prescribed by the administrator, signed under oath; and: (1) Be filed no more than sixty (60) days before the registration expires; (2) Be accompanied by the fee established by the administrator and the bond required by § 47-18-5513 ; (3) Contain the matter required for initial registration as a provider by § 47-18-5506(8) and (9) and a financial statement, audited by an accountant licensed to conduct audits, for the applicant's fiscal year immediately preceding the application; (4) Disclose any changes in the information contained in the applicant's application for registration or its immediately previous application for renewal, as applicable. If an application is otherwise complete and the applicant has made a timely effort to obtain the information required by § 47-18-5506(14) , but the information has not been received, the administrator may issue a temporary renewal of registration. The temporary renewal shall expire no later than one hundred eighty (180) days after issuance; (5) Supply evidence of insurance in an amount equal to the larger of two hundred fifty thousand dollars ($250,000) or the highest daily balance in the trust account required by § 47-18-5522 during the six-month period immediately preceding the application: (A) Against risks of dishonesty, fraud, theft and other misconduct on the part of the applicant or a director, employee or agent of the applicant; (B) Issued by an insurance company authorized to do business in this state and rated at least "A" or equivalent by a nationally recognized rating organization approved by the administrator; (C) With a deductible not exceeding five thousand dollars ($5,000); (D) Payable for the benefit of the applicant, this state and individuals who are residents of this state, as their interests may appear; and (E) Not subject to cancellation by the applicant or the insurer until sixty (60) days after written notice has been given to the administrator; (6) Disclose the total amount of money received by the applicant pursuant to plans during the preceding twelve (12) months from or on behalf of individuals who reside in this state and the total amount of money distributed to creditors of those individuals during that period; (7) Disclose, to the best of the applicant's knowledge, the gross amount of money accumulated during the preceding twelve (12) months pursuant to plans by or on behalf of individuals who reside in this state and with whom the applicant has agreements; and (8) Provide any other information that the administrator reasonably requires to perform the administrator's duties under this section. (c) Except for the information required by § 47-18-5506(7), (14) and (17) and the addresses required by § 47-18-5506(4) , the administrator shall make the information in an application for renewal of registration as a provider available to the public. (d) If a registered provider files a timely and complete application for renewal of registration, the registration remains effective until the administrator, in a record, notifies the applicant of a denial and states the reasons for the denial. (e) If the administrator denies an application for renewal of registration as a provider, the applicant, within thirty (30) days after receiving notice of the denial, may appeal and request a hearing pursuant to the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, part 3. Subject to § 47-18-5534 , while the appeal is pending, the applicant shall continue to provide debt-management services to individuals with whom it has agreements. If the denial is affirmed, subject to the administrator's order and § 47-18-5534 , the applicant shall continue to provide debt-management services to individuals with whom it has agreements until, with the approval of the administrator, it transfers the agreements to another registered provider or returns to the individuals all unexpended money that is under the applicant's control. Amended by 2015 Tenn. Acts, ch. 339,s 27, eff. 7/1/2015. Acts 2009, ch. 469, § 1.
(a) A provider must obtain a renewal of its registration annually.
(b) An application for renewal of registration as a provider must be in a form prescribed by the administrator, signed under oath; and: (1) Be filed no more than sixty (60) days before the registration expires; (2) Be accompanied by the fee established by the administrator and the bond required by § 47-18-5513 ; (3) Contain the matter required for initial registration as a provider by § 47-18-5506(8) and (9) and a financial statement, audited by an accountant licensed to conduct audits, for the applicant's fiscal year immediately preceding the application; (4) Disclose any changes in the information contained in the applicant's application for registration or its immediately previous application for renewal, as applicable. If an application is otherwise complete and the applicant has made a timely effort to obtain the information required by § 47-18-5506(14) , but the information has not been received, the administrator may issue a temporary renewal of registration. The temporary renewal shall expire no later than one hundred eighty (180) days after issuance; (5) Supply evidence of insurance in an amount equal to the larger of two hundred fifty thousand dollars ($250,000) or the highest daily balance in the trust account required by § 47-18-5522 during the six-month period immediately preceding the application: (A) Against risks of dishonesty, fraud, theft and other misconduct on the part of the applicant or a director, employee or agent of the applicant; (B) Issued by an insurance company authorized to do business in this state and rated at least "A" or equivalent by a nationally recognized rating organization approved by the administrator; (C) With a deductible not exceeding five thousand dollars ($5,000); (D) Payable for the benefit of the applicant, this state and individuals who are residents of this state, as their interests may appear; and (E) Not subject to cancellation by the applicant or the insurer until sixty (60) days after written notice has been given to the administrator; (6) Disclose the total amount of money received by the applicant pursuant to plans during the preceding twelve (12) months from or on behalf of individuals who reside in this state and the total amount of money distributed to creditors of those individuals during that period; (7) Disclose, to the best of the applicant's knowledge, the gross amount of money accumulated during the preceding twelve (12) months pursuant to plans by or on behalf of individuals who reside in this state and with whom the applicant has agreements; and (8) Provide any other information that the administrator reasonably requires to perform the administrator's duties under this section.
(1) Be filed no more than sixty (60) days before the registration expires;
(2) Be accompanied by the fee established by the administrator and the bond required by § 47-18-5513 ;
(3) Contain the matter required for initial registration as a provider by § 47-18-5506(8) and (9) and a financial statement, audited by an accountant licensed to conduct audits, for the applicant's fiscal year immediately preceding the application;
(4) Disclose any changes in the information contained in the applicant's application for registration or its immediately previous application for renewal, as applicable. If an application is otherwise complete and the applicant has made a timely effort to obtain the information required by § 47-18-5506(14) , but the information has not been received, the administrator may issue a temporary renewal of registration. The temporary renewal shall expire no later than one hundred eighty (180) days after issuance;
(5) Supply evidence of insurance in an amount equal to the larger of two hundred fifty thousand dollars ($250,000) or the highest daily balance in the trust account required by § 47-18-5522 during the six-month period immediately preceding the application: (A) Against risks of dishonesty, fraud, theft and other misconduct on the part of the applicant or a director, employee or agent of the applicant; (B) Issued by an insurance company authorized to do business in this state and rated at least "A" or equivalent by a nationally recognized rating organization approved by the administrator; (C) With a deductible not exceeding five thousand dollars ($5,000); (D) Payable for the benefit of the applicant, this state and individuals who are residents of this state, as their interests may appear; and (E) Not subject to cancellation by the applicant or the insurer until sixty (60) days after written notice has been given to the administrator;
(A) Against risks of dishonesty, fraud, theft and other misconduct on the part of the applicant or a director, employee or agent of the applicant;
(B) Issued by an insurance company authorized to do business in this state and rated at least "A" or equivalent by a nationally recognized rating organization approved by the administrator;
(C) With a deductible not exceeding five thousand dollars ($5,000);
(D) Payable for the benefit of the applicant, this state and individuals who are residents of this state, as their interests may appear; and
(E) Not subject to cancellation by the applicant or the insurer until sixty (60) days after written notice has been given to the administrator;
(6) Disclose the total amount of money received by the applicant pursuant to plans during the preceding twelve (12) months from or on behalf of individuals who reside in this state and the total amount of money distributed to creditors of those individuals during that period;
(7) Disclose, to the best of the applicant's knowledge, the gross amount of money accumulated during the preceding twelve (12) months pursuant to plans by or on behalf of individuals who reside in this state and with whom the applicant has agreements; and
(8) Provide any other information that the administrator reasonably requires to perform the administrator's duties under this section.
(c) Except for the information required by § 47-18-5506(7), (14) and (17) and the addresses required by § 47-18-5506(4) , the administrator shall make the information in an application for renewal of registration as a provider available to the public.
(d) If a registered provider files a timely and complete application for renewal of registration, the registration remains effective until the administrator, in a record, notifies the applicant of a denial and states the reasons for the denial.
(e) If the administrator denies an application for renewal of registration as a provider, the applicant, within thirty (30) days after receiving notice of the denial, may appeal and request a hearing pursuant to the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, part 3. Subject to § 47-18-5534 , while the appeal is pending, the applicant shall continue to provide debt-management services to individuals with whom it has agreements. If the denial is affirmed, subject to the administrator's order and § 47-18-5534 , the applicant shall continue to provide debt-management services to individuals with whom it has agreements until, with the approval of the administrator, it transfers the agreements to another registered provider or returns to the individuals all unexpended money that is under the applicant's control.
Amended by 2015 Tenn. Acts, ch. 339,s 27, eff. 7/1/2015.
Acts 2009, ch. 469, § 1.
Tenn. Code Ann. § 47-50-113 — TN Code / Title 47 / Chapter 50 / Section 47-50-113
Disposition of personal property found in or on repossessed vehicle - Reclamation by owner
Status: in_force

(a) When a vehicle is repossessed in this state, the individual, business or agency involved in the repossession may not abandon any personal property found in or on the vehicle for a period of fourteen (14) days following the repossession; provided further, that the individual, business or agency and any other individual or entity may not sell or otherwise dispose of the personal property during this fourteen-day period, notwithstanding title 45 or this title. If the owner reclaims the personal property within the fourteen-day period, then the owner shall be given possession without payment of any charges or fees. (b) For purposes of this section: (1) "Personal property" means any and all movable property not permanently affixed to the vehicle; and (2) "Vehicle" includes any: (A) Motor vehicle as defined in § 55-1-103 ; (B) Aircraft as defined in § 42-2-101 ; (C) Personal watercraft as defined in § 69-9-501 ; (D) Boat as defined in § 69-3-103 ; (E) Off-road vehicle as defined in § 47-25-1902 ; (F) Farm tractor as defined in § 55-1-104 ; (G) Tractor-drawn major farm implement subject to § 39-14-135 ; and (H) Industrial equipment operated by means of mechanical power upon which a person or property may be transported. Added by 2014 Tenn. Acts, ch. 784,s 1, eff. 4/24/2014.
(a) When a vehicle is repossessed in this state, the individual, business or agency involved in the repossession may not abandon any personal property found in or on the vehicle for a period of fourteen (14) days following the repossession; provided further, that the individual, business or agency and any other individual or entity may not sell or otherwise dispose of the personal property during this fourteen-day period, notwithstanding title 45 or this title. If the owner reclaims the personal property within the fourteen-day period, then the owner shall be given possession without payment of any charges or fees.
(b) For purposes of this section: (1) "Personal property" means any and all movable property not permanently affixed to the vehicle; and (2) "Vehicle" includes any: (A) Motor vehicle as defined in § 55-1-103 ; (B) Aircraft as defined in § 42-2-101 ; (C) Personal watercraft as defined in § 69-9-501 ; (D) Boat as defined in § 69-3-103 ; (E) Off-road vehicle as defined in § 47-25-1902 ; (F) Farm tractor as defined in § 55-1-104 ; (G) Tractor-drawn major farm implement subject to § 39-14-135 ; and (H) Industrial equipment operated by means of mechanical power upon which a person or property may be transported.
(1) "Personal property" means any and all movable property not permanently affixed to the vehicle; and
(2) "Vehicle" includes any: (A) Motor vehicle as defined in § 55-1-103 ; (B) Aircraft as defined in § 42-2-101 ; (C) Personal watercraft as defined in § 69-9-501 ; (D) Boat as defined in § 69-3-103 ; (E) Off-road vehicle as defined in § 47-25-1902 ; (F) Farm tractor as defined in § 55-1-104 ; (G) Tractor-drawn major farm implement subject to § 39-14-135 ; and (H) Industrial equipment operated by means of mechanical power upon which a person or property may be transported.
(A) Motor vehicle as defined in § 55-1-103 ;
(B) Aircraft as defined in § 42-2-101 ;
(C) Personal watercraft as defined in § 69-9-501 ;
(D) Boat as defined in § 69-3-103 ;
(E) Off-road vehicle as defined in § 47-25-1902 ;
(F) Farm tractor as defined in § 55-1-104 ;
(G) Tractor-drawn major farm implement subject to § 39-14-135 ; and
(H) Industrial equipment operated by means of mechanical power upon which a person or property may be transported.
Added by 2014 Tenn. Acts, ch. 784,s 1, eff. 4/24/2014.
Tenn. Code Ann. § 47-25-1106 — TN Code / Title 47 / Chapter 25 / Section 47-25-1106
Remedies
Status: in_force

(a) The chancery and circuit court having jurisdiction for any action arising pursuant to this part may grant injunctions on such terms as it may deem reasonable to prevent or restrain the unauthorized use of an individual's name, photograph, voice, or likeness. As part of such injunction, the court may authorize the confiscation of all unauthorized items and seize all instrumentalities used in connection with the violation of the individual's rights. All instrumentalities seized pursuant to enforcing an injunction under this subsection (a) shall be liquidated and used to satisfy statutory damages, if damages are recovered by the rights holder. (b) At any time while an action under this part is pending, the court may order the impounding, on such terms as it may deem reasonable, of all materials or any part thereof claimed to have been made or used in violation of the individual's rights, and such court may enjoin the use of all plates, molds, matrices, masters, tapes, film negatives, or other articles by means of which such materials may be reproduced. (c) As part of a final judgment or decree, the court may order the destruction or other reasonable disposition of all materials found to have been made or used in violation of the individual's rights, and of all plates, molds, matrices, masters, tapes, film negatives, or other articles by means of which such materials may be reproduced. (d) (1) An individual is entitled to recover the actual damages suffered as a result of the knowing use or infringement of such individual's rights and any profits that are attributable to such use or infringement which are not taken into account in computing the actual damages. Profit or lack thereof by the unauthorized use or infringement of an individual's rights shall not be a criteria of determining liability. (2) An individual is entitled to recover three (3) times the amount to which the individual is entitled under subdivision (d)(1), plus reasonable attorney fees, if a person knowingly uses or infringes the rights of a member of the armed forces in violation of this part. As used in this subdivision (d)(2), "member of the armed forces" means a member of the United States armed forces or a member of a reserve or Tennessee national guard unit who is in, or was called into, active service or active military service of the United States, as defined in § 58-1-102 . (e) The remedies provided for in this section are cumulative and shall be in addition to any others provided for by law. (f) Where a person has entered into a contract for an individual's exclusive personal services as a recording artist or an exclusive license to distribute sound recordings that capture an individual's audio performances, an action to enforce the rights set forth in this part may be brought by the person or the individual. Amended by 2024 Tenn. Acts, ch. 588,s 8, eff. 7/1/2024. Amended by 2024 Tenn. Acts, ch. 588,s 7, eff. 7/1/2024. Acts 1984, ch. 945, § 6; 2005, ch. 395, § 6; 2009 , ch. 359, § 1.
(a) The chancery and circuit court having jurisdiction for any action arising pursuant to this part may grant injunctions on such terms as it may deem reasonable to prevent or restrain the unauthorized use of an individual's name, photograph, voice, or likeness. As part of such injunction, the court may authorize the confiscation of all unauthorized items and seize all instrumentalities used in connection with the violation of the individual's rights. All instrumentalities seized pursuant to enforcing an injunction under this subsection (a) shall be liquidated and used to satisfy statutory damages, if damages are recovered by the rights holder.
(b) At any time while an action under this part is pending, the court may order the impounding, on such terms as it may deem reasonable, of all materials or any part thereof claimed to have been made or used in violation of the individual's rights, and such court may enjoin the use of all plates, molds, matrices, masters, tapes, film negatives, or other articles by means of which such materials may be reproduced.
(c) As part of a final judgment or decree, the court may order the destruction or other reasonable disposition of all materials found to have been made or used in violation of the individual's rights, and of all plates, molds, matrices, masters, tapes, film negatives, or other articles by means of which such materials may be reproduced.
(d) (1) An individual is entitled to recover the actual damages suffered as a result of the knowing use or infringement of such individual's rights and any profits that are attributable to such use or infringement which are not taken into account in computing the actual damages. Profit or lack thereof by the unauthorized use or infringement of an individual's rights shall not be a criteria of determining liability. (2) An individual is entitled to recover three (3) times the amount to which the individual is entitled under subdivision (d)(1), plus reasonable attorney fees, if a person knowingly uses or infringes the rights of a member of the armed forces in violation of this part. As used in this subdivision (d)(2), "member of the armed forces" means a member of the United States armed forces or a member of a reserve or Tennessee national guard unit who is in, or was called into, active service or active military service of the United States, as defined in § 58-1-102 .
(1) An individual is entitled to recover the actual damages suffered as a result of the knowing use or infringement of such individual's rights and any profits that are attributable to such use or infringement which are not taken into account in computing the actual damages. Profit or lack thereof by the unauthorized use or infringement of an individual's rights shall not be a criteria of determining liability.
(2) An individual is entitled to recover three (3) times the amount to which the individual is entitled under subdivision (d)(1), plus reasonable attorney fees, if a person knowingly uses or infringes the rights of a member of the armed forces in violation of this part. As used in this subdivision (d)(2), "member of the armed forces" means a member of the United States armed forces or a member of a reserve or Tennessee national guard unit who is in, or was called into, active service or active military service of the United States, as defined in § 58-1-102 .
(e) The remedies provided for in this section are cumulative and shall be in addition to any others provided for by law.
(f) Where a person has entered into a contract for an individual's exclusive personal services as a recording artist or an exclusive license to distribute sound recordings that capture an individual's audio performances, an action to enforce the rights set forth in this part may be brought by the person or the individual.
Amended by 2024 Tenn. Acts, ch. 588,s 8, eff. 7/1/2024.
Amended by 2024 Tenn. Acts, ch. 588,s 7, eff. 7/1/2024.
Acts 1984, ch. 945, § 6; 2005, ch. 395, § 6; 2009 , ch. 359, § 1.
Tenn. Code Ann. § 47-1-307 — TN Code / Title 47 / Chapter 1 / Section 47-1-307
Prima facie evidence by third-party documents
Status: in_force

A document in due form purporting to be a bill of lading, policy or certificate of insurance, official weigher's or inspector's certificate, consular invoice, or any other document authorized or required by the contract to be issued by a third party is prima facie evidence of its own authenticity and genuineness and of the facts stated in the document by the third party. Acts 2008, ch. 930, § 1.
A document in due form purporting to be a bill of lading, policy or certificate of insurance, official weigher's or inspector's certificate, consular invoice, or any other document authorized or required by the contract to be issued by a third party is prima facie evidence of its own authenticity and genuineness and of the facts stated in the document by the third party.
Acts 2008, ch. 930, § 1.
Tenn. Code Ann. § 47-18-1006 — TN Code / Title 47 / Chapter 18 / Section 47-18-1006
Contract - Cancellation notice
Status: in_force

(a) Every contract between a consumer and a credit services business for the purchase of the services of the credit services business shall be in writing, dated, signed by the consumer, and shall include all of the following: (1) A conspicuous statement in size equal to at least ten (10) point bold type, in immediate proximity to the space reserved for the signature of the consumer, as follows: "You, the buyer, may cancel this contract at any time prior to twelve o'clock midnight (12:00) of the fifth business day after the date of the transaction. See the attached notice of cancellation form for an explanation of this right."; (2) The terms and conditions of payment, including the total of all payments to be made by the consumer, whether to the credit services business or to some other person; (3) A complete and detailed description of the services to be performed and the results to be achieved by the credit services business for or on behalf of the consumer, including all guarantees and all promises of full or partial refunds and a list of the adverse information appearing on the consumer's credit report that the credit services business expects to have modified; and (4) The principal business address of the credit services business and the name and address of its agent in this state authorized to receive service of process. (b) (1) The contract shall be accompanied by a completed form in duplicate, captioned "NOTICE OF CANCELLATION," which shall be attached to the contract and easily detachable, and which shall contain in at least ten (10) point bold type the following statement: NOTICE OF CANCELLATION You may cancel this contract, without any penalty or obligation, at any time prior to twelve o'clock midnight (12:00) of the fifth business day after the date the contract is signed. If you cancel, any payment made by you under this contract will be returned within ten (10) days following receipt by the seller of your cancellation notice. To cancel this contract, mail or deliver a signed and dated copy of this cancellation notice, or any other written notice, to ______________ (Name of Seller) at ______________ (Address of Seller) ____________________ (Place of Business) not later than twelve o'clock midnight (12:00) ______________ (Date) I HEREBY CANCEL THIS TRANSACTION. ______________ ______________ Date ______________(Buyer's Signature) (2) A copy of the fully completed contract and all other documents the credit services business requires the consumer to sign shall be given by the credit services business to the consumer at the time they are signed. Acts 1988, ch. 897, § 6; 1998, ch. 854, § 5.
(a) Every contract between a consumer and a credit services business for the purchase of the services of the credit services business shall be in writing, dated, signed by the consumer, and shall include all of the following: (1) A conspicuous statement in size equal to at least ten (10) point bold type, in immediate proximity to the space reserved for the signature of the consumer, as follows: "You, the buyer, may cancel this contract at any time prior to twelve o'clock midnight (12:00) of the fifth business day after the date of the transaction. See the attached notice of cancellation form for an explanation of this right."; (2) The terms and conditions of payment, including the total of all payments to be made by the consumer, whether to the credit services business or to some other person; (3) A complete and detailed description of the services to be performed and the results to be achieved by the credit services business for or on behalf of the consumer, including all guarantees and all promises of full or partial refunds and a list of the adverse information appearing on the consumer's credit report that the credit services business expects to have modified; and (4) The principal business address of the credit services business and the name and address of its agent in this state authorized to receive service of process.
(1) A conspicuous statement in size equal to at least ten (10) point bold type, in immediate proximity to the space reserved for the signature of the consumer, as follows: "You, the buyer, may cancel this contract at any time prior to twelve o'clock midnight (12:00) of the fifth business day after the date of the transaction. See the attached notice of cancellation form for an explanation of this right.";
"You, the buyer, may cancel this contract at any time prior to twelve o'clock midnight (12:00) of the fifth business day after the date of the transaction. See the attached notice of cancellation form for an explanation of this right.";
(2) The terms and conditions of payment, including the total of all payments to be made by the consumer, whether to the credit services business or to some other person;
(3) A complete and detailed description of the services to be performed and the results to be achieved by the credit services business for or on behalf of the consumer, including all guarantees and all promises of full or partial refunds and a list of the adverse information appearing on the consumer's credit report that the credit services business expects to have modified; and
(4) The principal business address of the credit services business and the name and address of its agent in this state authorized to receive service of process.
(b) (1) The contract shall be accompanied by a completed form in duplicate, captioned "NOTICE OF CANCELLATION," which shall be attached to the contract and easily detachable, and which shall contain in at least ten (10) point bold type the following statement: NOTICE OF CANCELLATION You may cancel this contract, without any penalty or obligation, at any time prior to twelve o'clock midnight (12:00) of the fifth business day after the date the contract is signed. If you cancel, any payment made by you under this contract will be returned within ten (10) days following receipt by the seller of your cancellation notice. To cancel this contract, mail or deliver a signed and dated copy of this cancellation notice, or any other written notice, to ______________ (Name of Seller) at ______________ (Address of Seller) ____________________ (Place of Business) not later than twelve o'clock midnight (12:00) ______________ (Date) I HEREBY CANCEL THIS TRANSACTION. ______________ ______________ Date ______________(Buyer's Signature) (2) A copy of the fully completed contract and all other documents the credit services business requires the consumer to sign shall be given by the credit services business to the consumer at the time they are signed.
(1) The contract shall be accompanied by a completed form in duplicate, captioned "NOTICE OF CANCELLATION," which shall be attached to the contract and easily detachable, and which shall contain in at least ten (10) point bold type the following statement: NOTICE OF CANCELLATION You may cancel this contract, without any penalty or obligation, at any time prior to twelve o'clock midnight (12:00) of the fifth business day after the date the contract is signed. If you cancel, any payment made by you under this contract will be returned within ten (10) days following receipt by the seller of your cancellation notice. To cancel this contract, mail or deliver a signed and dated copy of this cancellation notice, or any other written notice, to ______________ (Name of Seller) at ______________ (Address of Seller) ____________________ (Place of Business) not later than twelve o'clock midnight (12:00) ______________ (Date) I HEREBY CANCEL THIS TRANSACTION. ______________ ______________ Date ______________(Buyer's Signature)
NOTICE OF CANCELLATION
You may cancel this contract, without any penalty or obligation, at any time prior to twelve o'clock midnight (12:00) of the fifth business day after the date the contract is signed.
If you cancel, any payment made by you under this contract will be returned within ten (10) days following receipt by the seller of your cancellation notice.
To cancel this contract, mail or deliver a signed and dated copy of this cancellation notice, or any other written notice, to ______________ (Name of Seller) at ______________ (Address of Seller) ____________________ (Place of Business) not later than twelve o'clock midnight (12:00) ______________ (Date)
I HEREBY CANCEL THIS TRANSACTION.
______________ ______________
Date ______________(Buyer's Signature)
(2) A copy of the fully completed contract and all other documents the credit services business requires the consumer to sign shall be given by the credit services business to the consumer at the time they are signed.
Acts 1988, ch. 897, § 6; 1998, ch. 854, § 5.