Tenn. Code Ann. § 47-9-611 — TN Code / Title 47 / Chapter 9 / Section 47-9-611
Notification before disposition of collateral
Status: in_force

(a) "Notification date". In this section, "notification date" means the earlier of the date on which: (1) A secured party sends to the debtor and any secondary obligor an authenticated notification of disposition; or (2) The debtor and any secondary obligor waive the right to notification. (b) Notification of disposition required. Except as otherwise provided in subsection (d), a secured party that disposes of collateral under § 47-9-610 shall send to the persons specified in subsection (c) a reasonable authenticated notification of disposition. (c) Persons to be notified. To comply with subsection (b), the secured party shall send an authenticated notification of disposition to: (1) The debtor; (2) Any secondary obligor; and (3) If the collateral is other than consumer goods: (A) Any other person from which the secured party has received, before the notification date, an authenticated notification of a claim of an interest in the collateral; (B) Any other secured party or lienholder that, ten (10) days before the notification date, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that: (i) Identified the collateral; (ii) Was indexed under the debtor's name as of that date; and (iii) Was filed in the office in which to file a financing statement against the debtor covering the collateral as of that date; and (C) Any other secured party that, ten (10) days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in § 47-9-311(a) . (d) Subsection (b) inapplicable: perishable collateral; recognized market. Subsection (b) does not apply if the collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market. Notwithstanding the foregoing, the notification requirement of subsection (b) does not require or permit a secured party to send a disposition notification that may violate the automatic stay under the federal bankruptcy code, 11 U.S.C. § 362 . (e) Compliance with subdivision (c)(3)(B). A secured party complies with the requirement for notification prescribed by subdivision (c)(3)(B) if: (1) Not later than twenty (20) days or earlier than thirty (30) days before the notification date, the secured party requests, in a commercially reasonable manner, information concerning financing statements indexed under the debtor's name in the office indicated in subdivision (c)(3)(B); and (2) Before the notification date, the secured party: (A) Did not receive a response to the request for information; or (B) Received a response to the request for information and sent an authenticated notification of disposition to each secured party or other lienholder named in that response whose financing statement covered the collateral. Acts 2000, ch. 846, § 1; 2002, ch. 745, § 3.
(a) "Notification date". In this section, "notification date" means the earlier of the date on which: (1) A secured party sends to the debtor and any secondary obligor an authenticated notification of disposition; or (2) The debtor and any secondary obligor waive the right to notification.
(1) A secured party sends to the debtor and any secondary obligor an authenticated notification of disposition; or
(2) The debtor and any secondary obligor waive the right to notification.
(b) Notification of disposition required. Except as otherwise provided in subsection (d), a secured party that disposes of collateral under § 47-9-610 shall send to the persons specified in subsection (c) a reasonable authenticated notification of disposition.
(c) Persons to be notified. To comply with subsection (b), the secured party shall send an authenticated notification of disposition to: (1) The debtor; (2) Any secondary obligor; and (3) If the collateral is other than consumer goods: (A) Any other person from which the secured party has received, before the notification date, an authenticated notification of a claim of an interest in the collateral; (B) Any other secured party or lienholder that, ten (10) days before the notification date, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that: (i) Identified the collateral; (ii) Was indexed under the debtor's name as of that date; and (iii) Was filed in the office in which to file a financing statement against the debtor covering the collateral as of that date; and (C) Any other secured party that, ten (10) days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in § 47-9-311(a) .
(1) The debtor;
(2) Any secondary obligor; and
(3) If the collateral is other than consumer goods: (A) Any other person from which the secured party has received, before the notification date, an authenticated notification of a claim of an interest in the collateral; (B) Any other secured party or lienholder that, ten (10) days before the notification date, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that: (i) Identified the collateral; (ii) Was indexed under the debtor's name as of that date; and (iii) Was filed in the office in which to file a financing statement against the debtor covering the collateral as of that date; and (C) Any other secured party that, ten (10) days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in § 47-9-311(a) .
(A) Any other person from which the secured party has received, before the notification date, an authenticated notification of a claim of an interest in the collateral;
(B) Any other secured party or lienholder that, ten (10) days before the notification date, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that: (i) Identified the collateral; (ii) Was indexed under the debtor's name as of that date; and (iii) Was filed in the office in which to file a financing statement against the debtor covering the collateral as of that date; and
(i) Identified the collateral;
(ii) Was indexed under the debtor's name as of that date; and
(iii) Was filed in the office in which to file a financing statement against the debtor covering the collateral as of that date; and
(C) Any other secured party that, ten (10) days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in § 47-9-311(a) .
(d) Subsection (b) inapplicable: perishable collateral; recognized market. Subsection (b) does not apply if the collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market. Notwithstanding the foregoing, the notification requirement of subsection (b) does not require or permit a secured party to send a disposition notification that may violate the automatic stay under the federal bankruptcy code, 11 U.S.C. § 362 .
(e) Compliance with subdivision (c)(3)(B). A secured party complies with the requirement for notification prescribed by subdivision (c)(3)(B) if: (1) Not later than twenty (20) days or earlier than thirty (30) days before the notification date, the secured party requests, in a commercially reasonable manner, information concerning financing statements indexed under the debtor's name in the office indicated in subdivision (c)(3)(B); and (2) Before the notification date, the secured party: (A) Did not receive a response to the request for information; or (B) Received a response to the request for information and sent an authenticated notification of disposition to each secured party or other lienholder named in that response whose financing statement covered the collateral.
(1) Not later than twenty (20) days or earlier than thirty (30) days before the notification date, the secured party requests, in a commercially reasonable manner, information concerning financing statements indexed under the debtor's name in the office indicated in subdivision (c)(3)(B); and
(2) Before the notification date, the secured party: (A) Did not receive a response to the request for information; or (B) Received a response to the request for information and sent an authenticated notification of disposition to each secured party or other lienholder named in that response whose financing statement covered the collateral.
(A) Did not receive a response to the request for information; or
(B) Received a response to the request for information and sent an authenticated notification of disposition to each secured party or other lienholder named in that response whose financing statement covered the collateral.
Acts 2000, ch. 846, § 1; 2002, ch. 745, § 3.
Tenn. Code Ann. § 47-18-1603 — TN Code / Title 47 / Chapter 18 / Section 47-18-1603
[Renumbered]
Status: repealed

Renumbered as 4-49-203 by 2023 Tenn. Acts, ch. 143,s 5, eff. 7/1/2023. Added by 2016 Tenn. Acts, ch. 978, s 1, eff. 7/1/2016.
Renumbered as 4-49-203 by 2023 Tenn. Acts, ch. 143,s 5, eff. 7/1/2023.
Added by 2016 Tenn. Acts, ch. 978, s 1, eff. 7/1/2016.
Tenn. Code Ann. § 47-8-108 — TN Code / Title 47 / Chapter 8 / Section 47-8-108
Warranties in direct holding
Status: in_force

(a) A person who transfers a certificated security to a purchaser for value warrants to the purchaser, and an endorser, if the transfer is by endorsement, warrants to any subsequent purchaser, that: (1) the certificate is genuine and has not been materially altered; (2) the transferor or endorser does not know of any fact that might impair the validity of the security; (3) there is no adverse claim to the security; (4) the transfer does not violate any restriction on transfer; (5) if the transfer is by endorsement, the endorsement is made by an appropriate person, or if the endorsement is by an agent, the agent has actual authority to act on behalf of the appropriate person; and (6) the transfer is otherwise effective and rightful. (b) A person who originates an instruction for registration of transfer of an uncertificated security to a purchaser for value warrants to the purchaser that: (1) the instruction is made by an appropriate person, or if the instruction is by an agent, the agent has actual authority to act on behalf of the appropriate person; (2) the security is valid; (3) there is no adverse claim to the security; and (4) at the time the instruction is presented to the issuer: (i) the purchaser will be entitled to the registration of transfer; (ii) the transfer will be registered by the issuer free from all liens, security interests, restrictions, and claims other than those specified in the instruction; (iii) the transfer will not violate any restriction on transfer; and (iv) the requested transfer will otherwise be effective and rightful. (c) A person who transfers an uncertificated security to a purchaser for value and does not originate an instruction in connection with the transfer warrants that: (1) the uncertificated security is valid; (2) there is no adverse claim to the security; (3) the transfer does not violate any restriction on transfer; and (4) the transfer is otherwise effective and rightful. (d) A person who endorses a security certificate warrants to the issuer that: (1) there is no adverse claim to the security; and (2) the endorsement is effective. (e) A person who originates an instruction for registration of transfer of an uncertificated security warrants to the issuer that: (1) the instruction is effective; and (2) at the time the instruction is presented to the issuer, the purchaser will be entitled to the registration of transfer. (f) A person who presents a certificated security for registration of transfer or for payment or exchange warrants to the issuer that the person is entitled to the registration, payment, or exchange, but a purchaser for value and without notice of adverse claims to whom transfer is registered warrants only that the person has no knowledge of any unauthorized signature in a necessary endorsement. (g) If a person acts as agent of another in delivering a certificated security to a purchaser, the identity of the principal was known to the person to whom the certificate was delivered, and the certificate delivered by the agent was received by the agent from the principal or received by the agent from another person at the direction of the principal, the person delivering the security certificate warrants only that the delivering person has authority to act for the principal and does not know of any adverse claim to the certificated security. (h) A secured party who redelivers a security certificate received, or after payment and on order of the debtor delivers the security certificate to another person, makes only the warranties of an agent under subsection (g). (i) Except as otherwise provided in subsection (g), a broker acting for a customer makes to the issuer and a purchaser the warranties provided in subsections (a)-(f). A broker that delivers a security certificate to its customer, or causes its customer to be registered as the owner of an uncertificated security, makes to the customer the warranties provided in subsection (a) or (b), and has the rights and privileges of a purchaser under this section. The warranties of and in favor of the broker acting as an agent are in addition to applicable warranties given by and in favor of the customer. Acts 1997, ch. 79, § 1.
(a) A person who transfers a certificated security to a purchaser for value warrants to the purchaser, and an endorser, if the transfer is by endorsement, warrants to any subsequent purchaser, that: (1) the certificate is genuine and has not been materially altered; (2) the transferor or endorser does not know of any fact that might impair the validity of the security; (3) there is no adverse claim to the security; (4) the transfer does not violate any restriction on transfer; (5) if the transfer is by endorsement, the endorsement is made by an appropriate person, or if the endorsement is by an agent, the agent has actual authority to act on behalf of the appropriate person; and (6) the transfer is otherwise effective and rightful.
(1) the certificate is genuine and has not been materially altered;
(2) the transferor or endorser does not know of any fact that might impair the validity of the security;
(3) there is no adverse claim to the security;
(4) the transfer does not violate any restriction on transfer;
(5) if the transfer is by endorsement, the endorsement is made by an appropriate person, or if the endorsement is by an agent, the agent has actual authority to act on behalf of the appropriate person; and
(6) the transfer is otherwise effective and rightful.
(b) A person who originates an instruction for registration of transfer of an uncertificated security to a purchaser for value warrants to the purchaser that: (1) the instruction is made by an appropriate person, or if the instruction is by an agent, the agent has actual authority to act on behalf of the appropriate person; (2) the security is valid; (3) there is no adverse claim to the security; and (4) at the time the instruction is presented to the issuer: (i) the purchaser will be entitled to the registration of transfer; (ii) the transfer will be registered by the issuer free from all liens, security interests, restrictions, and claims other than those specified in the instruction; (iii) the transfer will not violate any restriction on transfer; and (iv) the requested transfer will otherwise be effective and rightful.
(1) the instruction is made by an appropriate person, or if the instruction is by an agent, the agent has actual authority to act on behalf of the appropriate person;
(2) the security is valid;
(3) there is no adverse claim to the security; and
(4) at the time the instruction is presented to the issuer: (i) the purchaser will be entitled to the registration of transfer; (ii) the transfer will be registered by the issuer free from all liens, security interests, restrictions, and claims other than those specified in the instruction; (iii) the transfer will not violate any restriction on transfer; and (iv) the requested transfer will otherwise be effective and rightful.
(i) the purchaser will be entitled to the registration of transfer;
(ii) the transfer will be registered by the issuer free from all liens, security interests, restrictions, and claims other than those specified in the instruction;
(iii) the transfer will not violate any restriction on transfer; and
(iv) the requested transfer will otherwise be effective and rightful.
(c) A person who transfers an uncertificated security to a purchaser for value and does not originate an instruction in connection with the transfer warrants that: (1) the uncertificated security is valid; (2) there is no adverse claim to the security; (3) the transfer does not violate any restriction on transfer; and (4) the transfer is otherwise effective and rightful.
(1) the uncertificated security is valid;
(2) there is no adverse claim to the security;
(3) the transfer does not violate any restriction on transfer; and
(4) the transfer is otherwise effective and rightful.
(d) A person who endorses a security certificate warrants to the issuer that: (1) there is no adverse claim to the security; and (2) the endorsement is effective.
(1) there is no adverse claim to the security; and
(2) the endorsement is effective.
(e) A person who originates an instruction for registration of transfer of an uncertificated security warrants to the issuer that: (1) the instruction is effective; and (2) at the time the instruction is presented to the issuer, the purchaser will be entitled to the registration of transfer.
(1) the instruction is effective; and
(2) at the time the instruction is presented to the issuer, the purchaser will be entitled to the registration of transfer.
(f) A person who presents a certificated security for registration of transfer or for payment or exchange warrants to the issuer that the person is entitled to the registration, payment, or exchange, but a purchaser for value and without notice of adverse claims to whom transfer is registered warrants only that the person has no knowledge of any unauthorized signature in a necessary endorsement.
(g) If a person acts as agent of another in delivering a certificated security to a purchaser, the identity of the principal was known to the person to whom the certificate was delivered, and the certificate delivered by the agent was received by the agent from the principal or received by the agent from another person at the direction of the principal, the person delivering the security certificate warrants only that the delivering person has authority to act for the principal and does not know of any adverse claim to the certificated security.
(h) A secured party who redelivers a security certificate received, or after payment and on order of the debtor delivers the security certificate to another person, makes only the warranties of an agent under subsection (g).
(i) Except as otherwise provided in subsection (g), a broker acting for a customer makes to the issuer and a purchaser the warranties provided in subsections (a)-(f). A broker that delivers a security certificate to its customer, or causes its customer to be registered as the owner of an uncertificated security, makes to the customer the warranties provided in subsection (a) or (b), and has the rights and privileges of a purchaser under this section. The warranties of and in favor of the broker acting as an agent are in addition to applicable warranties given by and in favor of the customer.
Acts 1997, ch. 79, § 1.
Tenn. Code Ann. § 47-10-116 — TN Code / Title 47 / Chapter 10 / Section 47-10-116
Transferable records
Status: in_force

(a) In this section, "transferable record" means an electronic record that: (1) Would be a note under chapter 3 of this title, or a document under chapter 7 of this title, if the electronic record were in writing; and (2) The issuer of the electronic record expressly has agreed that it is a transferable record. (b) A person has control of a transferable record if a system employed for evidencing the transfer of interests in the transferable record reliably establishes that person as the person to which the transferable record was issued or transferred. (c) A system satisfies subsection (b), and a person is deemed to have control of a transferable record, if the transferable record is created, stored, and assigned in such a manner that: (1) A single authoritative copy of the transferable record exists which is unique, identifiable, and, except as otherwise provided in paragraphs (4), (5), and (6), unalterable; (2) The authoritative copy identifies the person asserting control as: (A) The person to which the transferable record was issued; or (B) If the authoritative copy indicates that the transferable record has been transferred, the person to whom the transferable record was most recently transferred; (3) The authoritative copy is communicated to and maintained by the person asserting control or its designated custodian; (4) Copies or revisions that add or change an identified assignee of the authoritative copy can be made only with the consent of the person asserting control; (5) Each copy of the authoritative copy and any copy of a copy is readily identifiable as a copy that is not the authoritative copy; and (6) Any revision of the authoritative copy is readily identifiable as authorized or unauthorized. (d) Except as otherwise agreed, a person having control of a transferable record is the holder, as defined in § 47-1-201 , of the transferable record and has the same rights and defenses as a holder of an equivalent record or writing under chapters 1-9 of this title, including, if the applicable statutory requirements under § 47-3-302(a) , § 47-7-501 , or § 47-9-308 are satisfied, the rights and defenses of a holder in due course, a holder to which a negotiable document of title has been duly negotiated, or a purchaser, respectively. Delivery, possession, and endorsement are not required to obtain or exercise any of the rights under this subsection (d). (e) Except as otherwise agreed, an obligor under a transferable record has the same rights and defenses as an equivalent obligor under equivalent records or writings under chapters 1-9 of this title. (f) If requested by a person against whom enforcement is sought, the person seeking to enforce the transferable record shall provide reasonable proof that the person is in control of the transferable record. Proof may include access to the authoritative copy of the transferable record and related business records sufficient to review the terms of the transferable record and to establish the identity of the person having control of the transferable record. Acts 2001, ch. 72, § 16.
(a) In this section, "transferable record" means an electronic record that: (1) Would be a note under chapter 3 of this title, or a document under chapter 7 of this title, if the electronic record were in writing; and (2) The issuer of the electronic record expressly has agreed that it is a transferable record.
(1) Would be a note under chapter 3 of this title, or a document under chapter 7 of this title, if the electronic record were in writing; and
(2) The issuer of the electronic record expressly has agreed that it is a transferable record.
(b) A person has control of a transferable record if a system employed for evidencing the transfer of interests in the transferable record reliably establishes that person as the person to which the transferable record was issued or transferred.
(c) A system satisfies subsection (b), and a person is deemed to have control of a transferable record, if the transferable record is created, stored, and assigned in such a manner that: (1) A single authoritative copy of the transferable record exists which is unique, identifiable, and, except as otherwise provided in paragraphs (4), (5), and (6), unalterable; (2) The authoritative copy identifies the person asserting control as: (A) The person to which the transferable record was issued; or (B) If the authoritative copy indicates that the transferable record has been transferred, the person to whom the transferable record was most recently transferred; (3) The authoritative copy is communicated to and maintained by the person asserting control or its designated custodian; (4) Copies or revisions that add or change an identified assignee of the authoritative copy can be made only with the consent of the person asserting control; (5) Each copy of the authoritative copy and any copy of a copy is readily identifiable as a copy that is not the authoritative copy; and (6) Any revision of the authoritative copy is readily identifiable as authorized or unauthorized.
(1) A single authoritative copy of the transferable record exists which is unique, identifiable, and, except as otherwise provided in paragraphs (4), (5), and (6), unalterable;
(2) The authoritative copy identifies the person asserting control as: (A) The person to which the transferable record was issued; or (B) If the authoritative copy indicates that the transferable record has been transferred, the person to whom the transferable record was most recently transferred;
(A) The person to which the transferable record was issued; or
(B) If the authoritative copy indicates that the transferable record has been transferred, the person to whom the transferable record was most recently transferred;
(3) The authoritative copy is communicated to and maintained by the person asserting control or its designated custodian;
(4) Copies or revisions that add or change an identified assignee of the authoritative copy can be made only with the consent of the person asserting control;
(5) Each copy of the authoritative copy and any copy of a copy is readily identifiable as a copy that is not the authoritative copy; and
(6) Any revision of the authoritative copy is readily identifiable as authorized or unauthorized.
(d) Except as otherwise agreed, a person having control of a transferable record is the holder, as defined in § 47-1-201 , of the transferable record and has the same rights and defenses as a holder of an equivalent record or writing under chapters 1-9 of this title, including, if the applicable statutory requirements under § 47-3-302(a) , § 47-7-501 , or § 47-9-308 are satisfied, the rights and defenses of a holder in due course, a holder to which a negotiable document of title has been duly negotiated, or a purchaser, respectively. Delivery, possession, and endorsement are not required to obtain or exercise any of the rights under this subsection (d).
(e) Except as otherwise agreed, an obligor under a transferable record has the same rights and defenses as an equivalent obligor under equivalent records or writings under chapters 1-9 of this title.
(f) If requested by a person against whom enforcement is sought, the person seeking to enforce the transferable record shall provide reasonable proof that the person is in control of the transferable record. Proof may include access to the authoritative copy of the transferable record and related business records sufficient to review the terms of the transferable record and to establish the identity of the person having control of the transferable record.
Acts 2001, ch. 72, § 16.
Tenn. Code Ann. § 47-18-2106 — TN Code / Title 47 / Chapter 18 / Section 47-18-2106
Violation of Tennessee Consumer Protection Act
Status: in_force

(a) A violation of this part constitutes a violation of the Tennessee Consumer Protection Act. (b) For the purpose of application of the Tennessee Consumer Protection Act, any violation of this part shall be construed to constitute an unfair or deceptive act or practice affecting trade or commerce and subject to the penalties and remedies as provided in that act, in addition to the penalties and remedies set forth in this part. (c) If the attorney general has reason to believe that a person has violated this part, then the attorney general may institute a proceeding under this chapter. Amended by 2019 Tenn. Acts, ch. 459,s 42, eff. 9/30/2019. Acts 1999, ch. 201, § 7.
(a) A violation of this part constitutes a violation of the Tennessee Consumer Protection Act.
(b) For the purpose of application of the Tennessee Consumer Protection Act, any violation of this part shall be construed to constitute an unfair or deceptive act or practice affecting trade or commerce and subject to the penalties and remedies as provided in that act, in addition to the penalties and remedies set forth in this part.
(c) If the attorney general has reason to believe that a person has violated this part, then the attorney general may institute a proceeding under this chapter.
Amended by 2019 Tenn. Acts, ch. 459,s 42, eff. 9/30/2019.
Acts 1999, ch. 201, § 7.
Tenn. Code Ann. § 47-8-306 — TN Code / Title 47 / Chapter 8 / Section 47-8-306
Effect of guaranteeing signature, endorsement, or instruction
Status: in_force

(a) A person who guarantees a signature of an endorser of a security certificate warrants that at the time of signing: (1) the signature was genuine; (2) the signer was an appropriate person to endorse, or if the signature is by an agent, the agent had actual authority to act on behalf of the appropriate person; and (3) the signer had legal capacity to sign. (b) A person who guarantees a signature of the originator of an instruction warrants that at the time of signing: (1) the signature was genuine; (2) the signer was an appropriate person to originate the instruction, or if the signature is by an agent, the agent had actual authority to act on behalf of the appropriate person, if the person specified in the instruction as the registered owner was, in fact, the registered owner, as to which fact the signature guarantor does not make a warranty; and (3) the signer had legal capacity to sign. (c) A person who specially guarantees the signature of an originator of an instruction makes the warranties of a signature guarantor under subsection (b) and also warrants that at the time the instruction is presented to the issuer: (1) the person specified in the instruction as the registered owner of the uncertificated security will be the registered owner; and (2) the transfer of the uncertificated security requested in the instruction will be registered by the issuer free from all liens, security interests, restrictions, and claims other than those specified in the instruction. (d) A guarantor under subsections (a) and (b) or a special guarantor under subsection (c) does not otherwise warrant the rightfulness of the transfer. (e) A person who guarantees an endorsement of a security certificate makes the warranties of a signature guarantor under subsection (a) and also warrants the rightfulness of the transfer in all respects. (f) A person who guarantees an instruction requesting the transfer of an uncertificated security makes the warranties of a special signature guarantor under subsection (c) and also warrants the rightfulness of the transfer in all respects. (g) An issuer may not require a special guaranty of signature, a guaranty of endorsement, or a guaranty of instruction as a condition to registration of transfer. (h) The warranties under this section are made to a person taking or dealing with the security in reliance on the guaranty, and the guarantor is liable to the person for loss resulting from their breach. An endorser or originator of an instruction whose signature, endorsement, or instruction has been guaranteed is liable to a guarantor for any loss suffered by the guarantor as a result of breach of the warranties of the guarantor. Acts 1997, ch. 79, § 1.
(a) A person who guarantees a signature of an endorser of a security certificate warrants that at the time of signing: (1) the signature was genuine; (2) the signer was an appropriate person to endorse, or if the signature is by an agent, the agent had actual authority to act on behalf of the appropriate person; and (3) the signer had legal capacity to sign.
(1) the signature was genuine;
(2) the signer was an appropriate person to endorse, or if the signature is by an agent, the agent had actual authority to act on behalf of the appropriate person; and
(3) the signer had legal capacity to sign.
(b) A person who guarantees a signature of the originator of an instruction warrants that at the time of signing: (1) the signature was genuine; (2) the signer was an appropriate person to originate the instruction, or if the signature is by an agent, the agent had actual authority to act on behalf of the appropriate person, if the person specified in the instruction as the registered owner was, in fact, the registered owner, as to which fact the signature guarantor does not make a warranty; and (3) the signer had legal capacity to sign.
(1) the signature was genuine;
(2) the signer was an appropriate person to originate the instruction, or if the signature is by an agent, the agent had actual authority to act on behalf of the appropriate person, if the person specified in the instruction as the registered owner was, in fact, the registered owner, as to which fact the signature guarantor does not make a warranty; and
(3) the signer had legal capacity to sign.
(c) A person who specially guarantees the signature of an originator of an instruction makes the warranties of a signature guarantor under subsection (b) and also warrants that at the time the instruction is presented to the issuer: (1) the person specified in the instruction as the registered owner of the uncertificated security will be the registered owner; and (2) the transfer of the uncertificated security requested in the instruction will be registered by the issuer free from all liens, security interests, restrictions, and claims other than those specified in the instruction.
(1) the person specified in the instruction as the registered owner of the uncertificated security will be the registered owner; and
(2) the transfer of the uncertificated security requested in the instruction will be registered by the issuer free from all liens, security interests, restrictions, and claims other than those specified in the instruction.
(d) A guarantor under subsections (a) and (b) or a special guarantor under subsection (c) does not otherwise warrant the rightfulness of the transfer.
(e) A person who guarantees an endorsement of a security certificate makes the warranties of a signature guarantor under subsection (a) and also warrants the rightfulness of the transfer in all respects.
(f) A person who guarantees an instruction requesting the transfer of an uncertificated security makes the warranties of a special signature guarantor under subsection (c) and also warrants the rightfulness of the transfer in all respects.
(g) An issuer may not require a special guaranty of signature, a guaranty of endorsement, or a guaranty of instruction as a condition to registration of transfer.
(h) The warranties under this section are made to a person taking or dealing with the security in reliance on the guaranty, and the guarantor is liable to the person for loss resulting from their breach. An endorser or originator of an instruction whose signature, endorsement, or instruction has been guaranteed is liable to a guarantor for any loss suffered by the guarantor as a result of breach of the warranties of the guarantor.
Acts 1997, ch. 79, § 1.
Tenn. Code Ann. § 47-18-507 — TN Code / Title 47 / Chapter 18 / Section 47-18-507
Required disclosures - Unfair or deceptive trade practices
Status: in_force

(a) It is unlawful for any buying club to fail to disclose to a prospective member in writing, prior to the sale of any contract for discount buying services: (1) That goods or services can only be bought through catalogs with no opportunity to inspect samples if such is the case; (2) The buyers club's policies regarding warranties or guarantees on goods ordered, return of ordered goods by buyers, procedures for cancellation of merchandise orders by the buyer, and refunds of deposits for the cancellation of orders; (3) Any charges, such as estimated freight costs, handling fees, credit life or disability insurance, suppliers' and buyers clubs' markup, and other costs incidental to the purchase of goods through the buyers club and which are to be paid by the buyer; (4) A list of the categories of merchandise which are available to buyers from cooperating suppliers. If the list includes savings claims based on reference prices, the reference prices must be those at which the same or comparable goods are offered or sold in the trade area; (5) Advice that the contract for discount buying service or incidental retail installments contracts will be transferred, sold, or assigned to a third party if such practice is to be used by the buyers club; and (6) The percentage of the purchase price required as a down payment on merchandise orders of any nature. This prohibition applies in all cases where rebates are offered, regardless of whether such promised rebates are contingent upon the seller's ability to enroll the referred persons into the buyers club. (b) It is an unfair or deceptive trade practice for a buying club to: (1) Represent that it is affiliated with any other buyers club organization or showroom, unless an affiliation in fact exists and unless the prospective buyer would be legally entitled to services from the allegedly affiliated organization as a result of being a buyer of the subject buyers club. If such an affiliation is claimed by the representative of the buyers club, written proof of such a binding legal right must be given the prospective buyer, including a description of the services available from the affiliated club, before the signing of any contract for discount buying services or application; (2) Represent that the prospective buyer will be entitled to a particular benefit unless that benefit is currently available from the buyers club on a regular basis; (3) Offer any gifts or consideration of any nature to a prospective buyer as a solicitation for such person to attend a buyers club sales presentation or to sign a membership application or a contract for discount buying services where the club fails to honor or deliver the gift or consideration in accordance with the terms of its promise; (4) Represent or suggest in any manner that it offers its buyers the lowest prices, excluding freight and service charges, available on all categories of merchandise handled by the club, unless such is true; or (5) Represent that merchandise is available to the buyer from any particular supplier unless such is true at the time the representation is made. Reference to unavailable suppliers or manufacturers may be made only for purposes of allowing prospective buyers to compare merchandise costs against those manufacturers which are available through the club. No buyers club may represent to a prospective buyer, unless it is true, that the club can purchase any item of merchandise at supplier's cost if the buyer provides the club with the necessary model number for the item. Acts 1986, ch. 863, § 1.
(a) It is unlawful for any buying club to fail to disclose to a prospective member in writing, prior to the sale of any contract for discount buying services: (1) That goods or services can only be bought through catalogs with no opportunity to inspect samples if such is the case; (2) The buyers club's policies regarding warranties or guarantees on goods ordered, return of ordered goods by buyers, procedures for cancellation of merchandise orders by the buyer, and refunds of deposits for the cancellation of orders; (3) Any charges, such as estimated freight costs, handling fees, credit life or disability insurance, suppliers' and buyers clubs' markup, and other costs incidental to the purchase of goods through the buyers club and which are to be paid by the buyer; (4) A list of the categories of merchandise which are available to buyers from cooperating suppliers. If the list includes savings claims based on reference prices, the reference prices must be those at which the same or comparable goods are offered or sold in the trade area; (5) Advice that the contract for discount buying service or incidental retail installments contracts will be transferred, sold, or assigned to a third party if such practice is to be used by the buyers club; and (6) The percentage of the purchase price required as a down payment on merchandise orders of any nature. This prohibition applies in all cases where rebates are offered, regardless of whether such promised rebates are contingent upon the seller's ability to enroll the referred persons into the buyers club.
(1) That goods or services can only be bought through catalogs with no opportunity to inspect samples if such is the case;
(2) The buyers club's policies regarding warranties or guarantees on goods ordered, return of ordered goods by buyers, procedures for cancellation of merchandise orders by the buyer, and refunds of deposits for the cancellation of orders;
(3) Any charges, such as estimated freight costs, handling fees, credit life or disability insurance, suppliers' and buyers clubs' markup, and other costs incidental to the purchase of goods through the buyers club and which are to be paid by the buyer;
(4) A list of the categories of merchandise which are available to buyers from cooperating suppliers. If the list includes savings claims based on reference prices, the reference prices must be those at which the same or comparable goods are offered or sold in the trade area;
(5) Advice that the contract for discount buying service or incidental retail installments contracts will be transferred, sold, or assigned to a third party if such practice is to be used by the buyers club; and
(6) The percentage of the purchase price required as a down payment on merchandise orders of any nature. This prohibition applies in all cases where rebates are offered, regardless of whether such promised rebates are contingent upon the seller's ability to enroll the referred persons into the buyers club.
(b) It is an unfair or deceptive trade practice for a buying club to: (1) Represent that it is affiliated with any other buyers club organization or showroom, unless an affiliation in fact exists and unless the prospective buyer would be legally entitled to services from the allegedly affiliated organization as a result of being a buyer of the subject buyers club. If such an affiliation is claimed by the representative of the buyers club, written proof of such a binding legal right must be given the prospective buyer, including a description of the services available from the affiliated club, before the signing of any contract for discount buying services or application; (2) Represent that the prospective buyer will be entitled to a particular benefit unless that benefit is currently available from the buyers club on a regular basis; (3) Offer any gifts or consideration of any nature to a prospective buyer as a solicitation for such person to attend a buyers club sales presentation or to sign a membership application or a contract for discount buying services where the club fails to honor or deliver the gift or consideration in accordance with the terms of its promise; (4) Represent or suggest in any manner that it offers its buyers the lowest prices, excluding freight and service charges, available on all categories of merchandise handled by the club, unless such is true; or (5) Represent that merchandise is available to the buyer from any particular supplier unless such is true at the time the representation is made. Reference to unavailable suppliers or manufacturers may be made only for purposes of allowing prospective buyers to compare merchandise costs against those manufacturers which are available through the club. No buyers club may represent to a prospective buyer, unless it is true, that the club can purchase any item of merchandise at supplier's cost if the buyer provides the club with the necessary model number for the item.
(1) Represent that it is affiliated with any other buyers club organization or showroom, unless an affiliation in fact exists and unless the prospective buyer would be legally entitled to services from the allegedly affiliated organization as a result of being a buyer of the subject buyers club. If such an affiliation is claimed by the representative of the buyers club, written proof of such a binding legal right must be given the prospective buyer, including a description of the services available from the affiliated club, before the signing of any contract for discount buying services or application;
(2) Represent that the prospective buyer will be entitled to a particular benefit unless that benefit is currently available from the buyers club on a regular basis;
(3) Offer any gifts or consideration of any nature to a prospective buyer as a solicitation for such person to attend a buyers club sales presentation or to sign a membership application or a contract for discount buying services where the club fails to honor or deliver the gift or consideration in accordance with the terms of its promise;
(4) Represent or suggest in any manner that it offers its buyers the lowest prices, excluding freight and service charges, available on all categories of merchandise handled by the club, unless such is true; or
(5) Represent that merchandise is available to the buyer from any particular supplier unless such is true at the time the representation is made. Reference to unavailable suppliers or manufacturers may be made only for purposes of allowing prospective buyers to compare merchandise costs against those manufacturers which are available through the club. No buyers club may represent to a prospective buyer, unless it is true, that the club can purchase any item of merchandise at supplier's cost if the buyer provides the club with the necessary model number for the item.
Acts 1986, ch. 863, § 1.
Tenn. Code Ann. § 47-10-123 — TN Code / Title 47 / Chapter 10 / Section 47-10-123
Relevancy and construction of official commentary
Status: in_force

In any dispute as to the proper construction of one (1) or more sections of the Uniform Electronic Transactions Act, the official comments pertaining to the corresponding sections of the official text, as adopted by the Uniform Law Commission, and as in effect on July 1, 2001, shall constitute evidence of the purposes and policies underlying such sections unless: (1) The sections of this chapter that are applicable to the dispute differ materially from the sections of the official text that would be applicable thereto; or (2) The official comments are inconsistent with the plain meaning of the applicable sections of this chapter. Amended by 2024 Tenn. Acts, ch. 494,s 10, eff. 2/21/2024. Acts 2001, ch. 72, § 23(e).
In any dispute as to the proper construction of one (1) or more sections of the Uniform Electronic Transactions Act, the official comments pertaining to the corresponding sections of the official text, as adopted by the Uniform Law Commission, and as in effect on July 1, 2001, shall constitute evidence of the purposes and policies underlying such sections unless:
(1) The sections of this chapter that are applicable to the dispute differ materially from the sections of the official text that would be applicable thereto; or
(2) The official comments are inconsistent with the plain meaning of the applicable sections of this chapter.
Amended by 2024 Tenn. Acts, ch. 494,s 10, eff. 2/21/2024.
Acts 2001, ch. 72, § 23(e).
Tenn. Code Ann. § 47-7-505 — TN Code / Title 47 / Chapter 7 / Section 47-7-505
Indorser not guarantor for other parties
Status: in_force

The indorsement of a tangible document of title issued by a bailee does not make the indorser liable for any default by the bailee or previous indorsers. Acts 2008, ch. 814, § 1.
The indorsement of a tangible document of title issued by a bailee does not make the indorser liable for any default by the bailee or previous indorsers.
Acts 2008, ch. 814, § 1.
Tenn. Code Ann. § 47-18-1502 — TN Code / Title 47 / Chapter 18 / Section 47-18-1502
Unlawful use of ADAD equipment - Consent to calls
Status: in_force

(a) It is unlawful for any person to use, to employ or direct another person to use, or to contract for the use of ADAD equipment for the purpose of advertising or offering for sale, lease, rental or as a gift any goods, services or property, either real or personal, primarily for personal, family or household use or for the purpose of conducting polls or soliciting information where: (1) Consent is not received prior to the initiation of the calls as specified in subsection (b); (2) Such use is other than between the hours of eight o'clock a.m. (8:00 a.m.) and nine o'clock p.m. (9:00 p.m.); (3) The ADAD equipment will operate unattended, or is not so designed and equipped with an automatic clock and calendar device that it will not operate unattended, even in the event of power failures; (4) Such use involves either the random or sequential dialing of telephone numbers; (5) The telephone number required to be stated in subdivision (a)(7) is not, during normal business hours, promptly and personally answered by someone who: (A) Is an agent of the person or organization in whose behalf the automatic calls are made; and (B) Is willing and able to provide information concerning the automatic calls; (6) The automatic dialing and recorded message player does not automatically and immediately terminate its connection with any telephone call within ten (10) seconds after the person called: (A) Fails to give consent for the playing of a recorded message; or (B) Replaces the receiver on the person's telephone; (7) The recorded message fails to state clearly the name and telephone number of the person or organization initiating the call within the first twenty-five (25) seconds of the call and at the conclusion of the call; or (8) Such use involves calls to: (A) Telephone numbers which, at the request of the customer, have been omitted from the telephone directory published by the telephone company or cooperative serving the customer; or (B) Hospitals, nursing homes, fire protection agencies, or law enforcement agencies. (b) (1) A person may give consent to a call made with ADAD equipment when a live operator introduces the call and states an intent to play a recorded message. Any such consent shall apply only to a particular call and shall not constitute prior consent to receive further calls through the use of such ADAD equipment. (2) (A) Any person wishing to receive telephone calls through the use of ADAD equipment shall give written consent to the person using, employing, directing another person to use, or contracting for the use of such ADAD equipment. (B) Any form used for such written consent by any person using, employing, directing another person to use, or contracting for the use of such ADAD equipment shall clearly and conspicuously state its purpose and effect, and clearly and conspicuously give notice of how such consent may be withdrawn. (C) A record of such written consent shall be maintained by the person to whom consent is given, and shall be made available to the commission or its authorized representative, without further action, during normal business hours and following reasonable notice. (D) Such consent shall, unless withdrawn, be valid for a period of two (2) years from the date on which it is executed; and such record of written consent shall be maintained by the person to whom consent is given for at least the same period of time. (E) Any consent to receive telephone calls through the use of ADAD equipment shall be void and withdrawn on the fifteenth day following the receipt of a letter withdrawing such consent. It is unlawful for any person to whom written consent is given to fail to maintain the record of such written consent for the time required by this subdivision (b)(2)(E), or to prevent or hinder the commission or its authorized representative from inspecting any such record of written consent. Amended by 2017 Tenn. Acts, ch. 94,s 77, eff. 4/4/2017. Acts 1990, ch. 874, § 2; 1995, ch. 305, § 104.
(a) It is unlawful for any person to use, to employ or direct another person to use, or to contract for the use of ADAD equipment for the purpose of advertising or offering for sale, lease, rental or as a gift any goods, services or property, either real or personal, primarily for personal, family or household use or for the purpose of conducting polls or soliciting information where: (1) Consent is not received prior to the initiation of the calls as specified in subsection (b); (2) Such use is other than between the hours of eight o'clock a.m. (8:00 a.m.) and nine o'clock p.m. (9:00 p.m.); (3) The ADAD equipment will operate unattended, or is not so designed and equipped with an automatic clock and calendar device that it will not operate unattended, even in the event of power failures; (4) Such use involves either the random or sequential dialing of telephone numbers; (5) The telephone number required to be stated in subdivision (a)(7) is not, during normal business hours, promptly and personally answered by someone who: (A) Is an agent of the person or organization in whose behalf the automatic calls are made; and (B) Is willing and able to provide information concerning the automatic calls; (6) The automatic dialing and recorded message player does not automatically and immediately terminate its connection with any telephone call within ten (10) seconds after the person called: (A) Fails to give consent for the playing of a recorded message; or (B) Replaces the receiver on the person's telephone; (7) The recorded message fails to state clearly the name and telephone number of the person or organization initiating the call within the first twenty-five (25) seconds of the call and at the conclusion of the call; or (8) Such use involves calls to: (A) Telephone numbers which, at the request of the customer, have been omitted from the telephone directory published by the telephone company or cooperative serving the customer; or (B) Hospitals, nursing homes, fire protection agencies, or law enforcement agencies.
(1) Consent is not received prior to the initiation of the calls as specified in subsection (b);
(2) Such use is other than between the hours of eight o'clock a.m. (8:00 a.m.) and nine o'clock p.m. (9:00 p.m.);
(3) The ADAD equipment will operate unattended, or is not so designed and equipped with an automatic clock and calendar device that it will not operate unattended, even in the event of power failures;
(4) Such use involves either the random or sequential dialing of telephone numbers;
(5) The telephone number required to be stated in subdivision (a)(7) is not, during normal business hours, promptly and personally answered by someone who: (A) Is an agent of the person or organization in whose behalf the automatic calls are made; and (B) Is willing and able to provide information concerning the automatic calls;
(A) Is an agent of the person or organization in whose behalf the automatic calls are made; and
(B) Is willing and able to provide information concerning the automatic calls;
(6) The automatic dialing and recorded message player does not automatically and immediately terminate its connection with any telephone call within ten (10) seconds after the person called: (A) Fails to give consent for the playing of a recorded message; or (B) Replaces the receiver on the person's telephone;
(A) Fails to give consent for the playing of a recorded message; or
(B) Replaces the receiver on the person's telephone;
(7) The recorded message fails to state clearly the name and telephone number of the person or organization initiating the call within the first twenty-five (25) seconds of the call and at the conclusion of the call; or
(8) Such use involves calls to: (A) Telephone numbers which, at the request of the customer, have been omitted from the telephone directory published by the telephone company or cooperative serving the customer; or (B) Hospitals, nursing homes, fire protection agencies, or law enforcement agencies.
(A) Telephone numbers which, at the request of the customer, have been omitted from the telephone directory published by the telephone company or cooperative serving the customer; or
(B) Hospitals, nursing homes, fire protection agencies, or law enforcement agencies.
(b) (1) A person may give consent to a call made with ADAD equipment when a live operator introduces the call and states an intent to play a recorded message. Any such consent shall apply only to a particular call and shall not constitute prior consent to receive further calls through the use of such ADAD equipment. (2) (A) Any person wishing to receive telephone calls through the use of ADAD equipment shall give written consent to the person using, employing, directing another person to use, or contracting for the use of such ADAD equipment. (B) Any form used for such written consent by any person using, employing, directing another person to use, or contracting for the use of such ADAD equipment shall clearly and conspicuously state its purpose and effect, and clearly and conspicuously give notice of how such consent may be withdrawn. (C) A record of such written consent shall be maintained by the person to whom consent is given, and shall be made available to the commission or its authorized representative, without further action, during normal business hours and following reasonable notice. (D) Such consent shall, unless withdrawn, be valid for a period of two (2) years from the date on which it is executed; and such record of written consent shall be maintained by the person to whom consent is given for at least the same period of time. (E) Any consent to receive telephone calls through the use of ADAD equipment shall be void and withdrawn on the fifteenth day following the receipt of a letter withdrawing such consent. It is unlawful for any person to whom written consent is given to fail to maintain the record of such written consent for the time required by this subdivision (b)(2)(E), or to prevent or hinder the commission or its authorized representative from inspecting any such record of written consent.
(1) A person may give consent to a call made with ADAD equipment when a live operator introduces the call and states an intent to play a recorded message. Any such consent shall apply only to a particular call and shall not constitute prior consent to receive further calls through the use of such ADAD equipment.
(2) (A) Any person wishing to receive telephone calls through the use of ADAD equipment shall give written consent to the person using, employing, directing another person to use, or contracting for the use of such ADAD equipment. (B) Any form used for such written consent by any person using, employing, directing another person to use, or contracting for the use of such ADAD equipment shall clearly and conspicuously state its purpose and effect, and clearly and conspicuously give notice of how such consent may be withdrawn. (C) A record of such written consent shall be maintained by the person to whom consent is given, and shall be made available to the commission or its authorized representative, without further action, during normal business hours and following reasonable notice. (D) Such consent shall, unless withdrawn, be valid for a period of two (2) years from the date on which it is executed; and such record of written consent shall be maintained by the person to whom consent is given for at least the same period of time. (E) Any consent to receive telephone calls through the use of ADAD equipment shall be void and withdrawn on the fifteenth day following the receipt of a letter withdrawing such consent. It is unlawful for any person to whom written consent is given to fail to maintain the record of such written consent for the time required by this subdivision (b)(2)(E), or to prevent or hinder the commission or its authorized representative from inspecting any such record of written consent.
(A) Any person wishing to receive telephone calls through the use of ADAD equipment shall give written consent to the person using, employing, directing another person to use, or contracting for the use of such ADAD equipment.
(B) Any form used for such written consent by any person using, employing, directing another person to use, or contracting for the use of such ADAD equipment shall clearly and conspicuously state its purpose and effect, and clearly and conspicuously give notice of how such consent may be withdrawn.
(C) A record of such written consent shall be maintained by the person to whom consent is given, and shall be made available to the commission or its authorized representative, without further action, during normal business hours and following reasonable notice.
(D) Such consent shall, unless withdrawn, be valid for a period of two (2) years from the date on which it is executed; and such record of written consent shall be maintained by the person to whom consent is given for at least the same period of time.
(E) Any consent to receive telephone calls through the use of ADAD equipment shall be void and withdrawn on the fifteenth day following the receipt of a letter withdrawing such consent. It is unlawful for any person to whom written consent is given to fail to maintain the record of such written consent for the time required by this subdivision (b)(2)(E), or to prevent or hinder the commission or its authorized representative from inspecting any such record of written consent.
Amended by 2017 Tenn. Acts, ch. 94,s 77, eff. 4/4/2017.
Acts 1990, ch. 874, § 2; 1995, ch. 305, § 104.
Tenn. Code Ann. § 47-7-102 — TN Code / Title 47 / Chapter 7 / Section 47-7-102
Chapter definitions
Status: in_force

(a) As used in this chapter, unless the context otherwise requires: (1) "Bailee" means a person that by a warehouse receipt, bill of lading, or other document of title acknowledges possession of goods and contracts to deliver them; (2) "Carrier" means a person that issues a bill of lading; (3) "Consignee" means a person named in a bill of lading to which or to whose order the bill promises delivery; (4) "Consignor" means a person named in a bill of lading as the person from which the goods have been received for shipment; (5) "Delivery order" means a record that contains an order to deliver goods directed to a warehouse, carrier, or other person that in the ordinary course of business issues warehouse receipts or bills of lading; (6) "Good faith" means honesty in fact in the conduct or transaction concerned; (7) "Goods" means all things that are treated as movable for the purposes of a contract for storage or transportation; (8) "Issuer" means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. The term includes a person for which an agent or employee purports to act in issuing a document if the agent or employee has real or apparent authority to issue documents, even if the issuer did not receive any goods, the goods were misdescribed, or in any other respect the agent or employee violated the issuer's instructions; (9) "Person entitled under the document" means the holder, in the case of a negotiable document of title, or the person to which delivery of the goods is to be made by the terms of, or pursuant to instructions in a record under, a nonnegotiable document of title; (10) "Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form; (11) "Shipper" means a person that enters into a contract of transportation with a carrier; (12) "Sign" means, with present intent to authenticate or adopt a record: (A) To execute or adopt a tangible symbol; or (B) To attach to or logically associate with the record an electronic sound, symbol, or process; and (13) "Warehouse" means a person engaged in the business of storing goods for hire. (b) Definitions in other chapters applying to this chapter and the sections in which they appear are: (1) "Contract for sale", § 47-2-106 ; (2) "Lessee in the ordinary course of business", § 47-2A-103 ; and (3) "Receipt" of goods, § 47-2-103 . (c) In addition, chapter 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this chapter. Acts 2008 , ch. 814, § 1.
(a) As used in this chapter, unless the context otherwise requires: (1) "Bailee" means a person that by a warehouse receipt, bill of lading, or other document of title acknowledges possession of goods and contracts to deliver them; (2) "Carrier" means a person that issues a bill of lading; (3) "Consignee" means a person named in a bill of lading to which or to whose order the bill promises delivery; (4) "Consignor" means a person named in a bill of lading as the person from which the goods have been received for shipment; (5) "Delivery order" means a record that contains an order to deliver goods directed to a warehouse, carrier, or other person that in the ordinary course of business issues warehouse receipts or bills of lading; (6) "Good faith" means honesty in fact in the conduct or transaction concerned; (7) "Goods" means all things that are treated as movable for the purposes of a contract for storage or transportation; (8) "Issuer" means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. The term includes a person for which an agent or employee purports to act in issuing a document if the agent or employee has real or apparent authority to issue documents, even if the issuer did not receive any goods, the goods were misdescribed, or in any other respect the agent or employee violated the issuer's instructions; (9) "Person entitled under the document" means the holder, in the case of a negotiable document of title, or the person to which delivery of the goods is to be made by the terms of, or pursuant to instructions in a record under, a nonnegotiable document of title; (10) "Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form; (11) "Shipper" means a person that enters into a contract of transportation with a carrier; (12) "Sign" means, with present intent to authenticate or adopt a record: (A) To execute or adopt a tangible symbol; or (B) To attach to or logically associate with the record an electronic sound, symbol, or process; and (13) "Warehouse" means a person engaged in the business of storing goods for hire.
(1) "Bailee" means a person that by a warehouse receipt, bill of lading, or other document of title acknowledges possession of goods and contracts to deliver them;
(2) "Carrier" means a person that issues a bill of lading;
(3) "Consignee" means a person named in a bill of lading to which or to whose order the bill promises delivery;
(4) "Consignor" means a person named in a bill of lading as the person from which the goods have been received for shipment;
(5) "Delivery order" means a record that contains an order to deliver goods directed to a warehouse, carrier, or other person that in the ordinary course of business issues warehouse receipts or bills of lading;
(6) "Good faith" means honesty in fact in the conduct or transaction concerned;
(7) "Goods" means all things that are treated as movable for the purposes of a contract for storage or transportation;
(8) "Issuer" means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. The term includes a person for which an agent or employee purports to act in issuing a document if the agent or employee has real or apparent authority to issue documents, even if the issuer did not receive any goods, the goods were misdescribed, or in any other respect the agent or employee violated the issuer's instructions;
(9) "Person entitled under the document" means the holder, in the case of a negotiable document of title, or the person to which delivery of the goods is to be made by the terms of, or pursuant to instructions in a record under, a nonnegotiable document of title;
(10) "Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form;
(11) "Shipper" means a person that enters into a contract of transportation with a carrier;
(12) "Sign" means, with present intent to authenticate or adopt a record: (A) To execute or adopt a tangible symbol; or (B) To attach to or logically associate with the record an electronic sound, symbol, or process; and
(A) To execute or adopt a tangible symbol; or
(B) To attach to or logically associate with the record an electronic sound, symbol, or process; and
(13) "Warehouse" means a person engaged in the business of storing goods for hire.
(b) Definitions in other chapters applying to this chapter and the sections in which they appear are: (1) "Contract for sale", § 47-2-106 ; (2) "Lessee in the ordinary course of business", § 47-2A-103 ; and (3) "Receipt" of goods, § 47-2-103 .
(1) "Contract for sale", § 47-2-106 ;
(2) "Lessee in the ordinary course of business", § 47-2A-103 ; and
(3) "Receipt" of goods, § 47-2-103 .
(c) In addition, chapter 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this chapter.
Acts 2008 , ch. 814, § 1.
Tenn. Code Ann. § 47-18-2602 — TN Code / Title 47 / Chapter 18 / Section 47-18-2602
Part definitions
Status: in_force

As used in this part, unless the context otherwise requires: (1) "Annuity insurer" means an insurer that has issued an insurance policy or annuity contract used to fund periodic payments under a structured settlement; (2) "Applicable law" means state or federal statutes of the United States; (3) "Dependents" includes a payee's spouse and minor children and all other family members and other persons for whom the payee is legally obligated to provide support, including alimony; (4) "Discounted present value" means the present value of future payments, as determined by discounting such payments to the present using the most recently published applicable federal rate for determining the present value of an annuity, as issued by the internal revenue service, and the present value of the payments to be transferred by the payee using the actual discount rate applied to the transfer, stated as an annual percentage rate; (5) "Independent professional advice" means advice of an attorney, certified public accountant, actuary or other licensed professional adviser; (6) "Interested parties" means, with respect to any structured settlement, the payee, the annuity issuer, the structured settlement obligor, and any other party to the structured settlement that has continuing rights or obligations to receive or make payments under such structured settlement; (7) "Payee" means an individual who is receiving tax-free damage payments under a structured settlement and proposes to make a transfer of payment rights thereunder; (8) "Qualified assignment agreement" means an agreement providing for a qualified assignment within the meaning of 26 U.S.C. § 130 , as amended from time to time; (9) "Responsible administrative authority" means, with respect to a structured settlement, any government authority vested by law with exclusive jurisdiction over the settled claim resolved by such structured settlement; (10) "Settled claim" means the original tort claim; (11) "Structured settlement" means an arrangement for periodic payment of damages for personal injuries established by settlement or judgment in resolution of a tort claim; (12) "Structured settlement agreement" means the agreement, judgment, stipulation, or release embodying the terms of a structured settlement, including the rights of the payee to receive periodic payments; (13) "Structured settlement obligor" means, with respect to any structured settlement, the party that has the continuing periodic payment obligation to the payee under a structured settlement agreement or a qualified assignment agreement; (14) "Structured settlement payment rights" means rights to receive periodic payments (including lump sum payments) under a structured settlement, whether from the settlement obligor or the annuity issuer where: (A) The payee is domiciled in this state; (B) The structured settlement agreement was approved by a court or responsible administrative authority in this state; or (C) The structured settlement agreement is governed by the laws of this state; (15) "Terms of the structured settlement" includes, with respect to any structured settlement, the terms of the structured settlement agreement, the annuity contract, any qualified assignment agreement and any order or approval of any court or responsible administrative authority or other government authority authorizing or approving such structured settlement; (16) "Transfer" means any sale, assignment, pledge, hypothecation, commutation, advance or other form of alienation or encumbrance made by a payee for consideration; and (17) "Transfer agreement" means the agreement providing for transfer of structured settlement payment rights from a payee to a transferee. Amended by 2016 Tenn. Acts, ch. 795,s 1, eff. 4/14/2016. Acts 2000, ch. 758, § 3.
As used in this part, unless the context otherwise requires:
(1) "Annuity insurer" means an insurer that has issued an insurance policy or annuity contract used to fund periodic payments under a structured settlement;
(2) "Applicable law" means state or federal statutes of the United States;
(3) "Dependents" includes a payee's spouse and minor children and all other family members and other persons for whom the payee is legally obligated to provide support, including alimony;
(4) "Discounted present value" means the present value of future payments, as determined by discounting such payments to the present using the most recently published applicable federal rate for determining the present value of an annuity, as issued by the internal revenue service, and the present value of the payments to be transferred by the payee using the actual discount rate applied to the transfer, stated as an annual percentage rate;
(5) "Independent professional advice" means advice of an attorney, certified public accountant, actuary or other licensed professional adviser;
(6) "Interested parties" means, with respect to any structured settlement, the payee, the annuity issuer, the structured settlement obligor, and any other party to the structured settlement that has continuing rights or obligations to receive or make payments under such structured settlement;
(7) "Payee" means an individual who is receiving tax-free damage payments under a structured settlement and proposes to make a transfer of payment rights thereunder;
(8) "Qualified assignment agreement" means an agreement providing for a qualified assignment within the meaning of 26 U.S.C. § 130 , as amended from time to time;
(9) "Responsible administrative authority" means, with respect to a structured settlement, any government authority vested by law with exclusive jurisdiction over the settled claim resolved by such structured settlement;
(10) "Settled claim" means the original tort claim;
(11) "Structured settlement" means an arrangement for periodic payment of damages for personal injuries established by settlement or judgment in resolution of a tort claim;
(12) "Structured settlement agreement" means the agreement, judgment, stipulation, or release embodying the terms of a structured settlement, including the rights of the payee to receive periodic payments;
(13) "Structured settlement obligor" means, with respect to any structured settlement, the party that has the continuing periodic payment obligation to the payee under a structured settlement agreement or a qualified assignment agreement;
(14) "Structured settlement payment rights" means rights to receive periodic payments (including lump sum payments) under a structured settlement, whether from the settlement obligor or the annuity issuer where: (A) The payee is domiciled in this state; (B) The structured settlement agreement was approved by a court or responsible administrative authority in this state; or (C) The structured settlement agreement is governed by the laws of this state;
(A) The payee is domiciled in this state;
(B) The structured settlement agreement was approved by a court or responsible administrative authority in this state; or
(C) The structured settlement agreement is governed by the laws of this state;
(15) "Terms of the structured settlement" includes, with respect to any structured settlement, the terms of the structured settlement agreement, the annuity contract, any qualified assignment agreement and any order or approval of any court or responsible administrative authority or other government authority authorizing or approving such structured settlement;
(16) "Transfer" means any sale, assignment, pledge, hypothecation, commutation, advance or other form of alienation or encumbrance made by a payee for consideration; and
(17) "Transfer agreement" means the agreement providing for transfer of structured settlement payment rights from a payee to a transferee.
Amended by 2016 Tenn. Acts, ch. 795,s 1, eff. 4/14/2016.
Acts 2000, ch. 758, § 3.
Tenn. Code Ann. § 47-23-101 — TN Code / Title 47 / Chapter 23 / Section 47-23-101
Insurance information confidential
Status: in_force

(a) (1) When a borrower is required to keep real estate insured and to furnish evidence of such insurance to a lender as a condition for obtaining or keeping the loan, then the lender, mortgagee, assignee, or creditor is prohibited from disclosing to other persons or parties, directly or indirectly, information with respect to the expiration dates of such insurance or other insurance policy information so as to enable any person or party to solicit the insurance or any renewal thereof, without first obtaining the written consent of the policyholder for such disclosure to be made. (2) No other person or party shall request the disclosure of such information, so as to facilitate solicitations of the insurance or any renewal thereof, without first obtaining the written consent of the policyholder. (3) No lender, mortgagee, assignee, or creditor shall use any of the information contained in a policy of insurance for the purpose of soliciting insurance business with respect to the insured real property from the borrower. (b) These prohibitions do not apply when the lender, mortgagee, assignee, or creditor has been advised in writing by the insurer or its agent that the insurance on the property will be cancelled or will not be renewed. (c) A willful violation of this section by any lender, mortgagee, assignee, or creditor or by any other person or party who may request the disclosure of such information from such lender, mortgagee, assignee, or creditor is a Class A misdemeanor. Acts 1975, ch. 144, §§ 1-3; Acts 1989, ch. 591, §§ 1, 6; T.C.A., §§ 47-15-118 -- 47-15-120, 47-23-101 -- 47-23-103.
(a) (1) When a borrower is required to keep real estate insured and to furnish evidence of such insurance to a lender as a condition for obtaining or keeping the loan, then the lender, mortgagee, assignee, or creditor is prohibited from disclosing to other persons or parties, directly or indirectly, information with respect to the expiration dates of such insurance or other insurance policy information so as to enable any person or party to solicit the insurance or any renewal thereof, without first obtaining the written consent of the policyholder for such disclosure to be made. (2) No other person or party shall request the disclosure of such information, so as to facilitate solicitations of the insurance or any renewal thereof, without first obtaining the written consent of the policyholder. (3) No lender, mortgagee, assignee, or creditor shall use any of the information contained in a policy of insurance for the purpose of soliciting insurance business with respect to the insured real property from the borrower.
(1) When a borrower is required to keep real estate insured and to furnish evidence of such insurance to a lender as a condition for obtaining or keeping the loan, then the lender, mortgagee, assignee, or creditor is prohibited from disclosing to other persons or parties, directly or indirectly, information with respect to the expiration dates of such insurance or other insurance policy information so as to enable any person or party to solicit the insurance or any renewal thereof, without first obtaining the written consent of the policyholder for such disclosure to be made.
(2) No other person or party shall request the disclosure of such information, so as to facilitate solicitations of the insurance or any renewal thereof, without first obtaining the written consent of the policyholder.
(3) No lender, mortgagee, assignee, or creditor shall use any of the information contained in a policy of insurance for the purpose of soliciting insurance business with respect to the insured real property from the borrower.
(b) These prohibitions do not apply when the lender, mortgagee, assignee, or creditor has been advised in writing by the insurer or its agent that the insurance on the property will be cancelled or will not be renewed.
(c) A willful violation of this section by any lender, mortgagee, assignee, or creditor or by any other person or party who may request the disclosure of such information from such lender, mortgagee, assignee, or creditor is a Class A misdemeanor.
Acts 1975, ch. 144, §§ 1-3; Acts 1989, ch. 591, §§ 1, 6; T.C.A., §§ 47-15-118 -- 47-15-120, 47-23-101 -- 47-23-103.
Tenn. Code Ann. § 47-25-1502 — TN Code / Title 47 / Chapter 25 / Section 47-25-1502
Part definitions
Status: in_force

As used in this part, unless the context otherwise requires: (1) "Franchise" means a written or oral agreement for a definite or indefinite period, in which a person grants to another person authority to use a trade name, trademark, service mark or related characteristic within an exclusive territory, or to sell or distribute goods or services, within an exclusive territory, at wholesale, retail, by lease agreement or otherwise; provided, that "franchise" means only such agreement where the franchisee is required to be licensed under § 57-3-203 ; and provided further, that a franchise is not created by a lease, license or concession granted by a retailer to sell goods or furnish services on or from premises which are occupied by the retailer-grantor primarily for its own merchandising activities; (2) "Franchisee" means a person to whom a franchise is offered or granted only if such person is required to be licensed under § 57-3-203 ; (3) "Franchisor" means a person who grants a franchise to another person where such person is the holder of a permit issued pursuant to § 57-3-602 ; (4) "Good cause" means: (A) Failure by a franchisee to comply substantially with the requirements imposed or sought to be imposed upon the franchisee by the franchisor, which requirements are not discriminatory as compared with the requirements imposed on other similarly situated franchisees, either by their terms or in the manner of their enforcement, and which requirements are not in violation of any law or regulation; (B) The failure by the franchisee to act in good faith and in a commercially reasonable manner in carrying out the terms of the franchise; (C) Voluntary abandonment of the franchise; (D) Conviction of the franchisee in a court of competent jurisdiction of an offense punishable by a term of imprisonment in excess of one (1) year; (E) Any act by a franchisee which substantially impairs the franchisor's trade name or trademark; (F) The institution of insolvency or bankruptcy proceedings by or against a franchisee, or any assignment or attempted assignment by a franchisee of the franchise or the assets of the franchise for the benefit of creditors; (G) Failure of the franchisee to pay to the franchisor within thirty (30) days after receipt of notice any uncontested sums past due the franchisor and relating to the franchise; or (H) Failure of the franchisee to comply with federal, state or local law or regulations applicable and material to the operation of the franchise which could reasonably impair the franchisee's continued future performance; (5) "Good faith" means honesty in fact in the conduct or transaction concerned; (6) "Person" means a natural person, corporation, partnership, trust or other entity and, in case of an entity, it includes any other entity which has a majority interest in such entity, or effectively controls such other entity, as well as the individual officers, directors and other persons in active control of the activities of each such entity; and (7) "Sale, transfer or assignment" means any disposition of a franchise or any interest therein, with or without consideration, including, but not limited to, bequests, inheritance, gift, exchange, lease or license. Acts 1989, ch. 392, § 2.
As used in this part, unless the context otherwise requires:
(1) "Franchise" means a written or oral agreement for a definite or indefinite period, in which a person grants to another person authority to use a trade name, trademark, service mark or related characteristic within an exclusive territory, or to sell or distribute goods or services, within an exclusive territory, at wholesale, retail, by lease agreement or otherwise; provided, that "franchise" means only such agreement where the franchisee is required to be licensed under § 57-3-203 ; and provided further, that a franchise is not created by a lease, license or concession granted by a retailer to sell goods or furnish services on or from premises which are occupied by the retailer-grantor primarily for its own merchandising activities;
(2) "Franchisee" means a person to whom a franchise is offered or granted only if such person is required to be licensed under § 57-3-203 ;
(3) "Franchisor" means a person who grants a franchise to another person where such person is the holder of a permit issued pursuant to § 57-3-602 ;
(4) "Good cause" means: (A) Failure by a franchisee to comply substantially with the requirements imposed or sought to be imposed upon the franchisee by the franchisor, which requirements are not discriminatory as compared with the requirements imposed on other similarly situated franchisees, either by their terms or in the manner of their enforcement, and which requirements are not in violation of any law or regulation; (B) The failure by the franchisee to act in good faith and in a commercially reasonable manner in carrying out the terms of the franchise; (C) Voluntary abandonment of the franchise; (D) Conviction of the franchisee in a court of competent jurisdiction of an offense punishable by a term of imprisonment in excess of one (1) year; (E) Any act by a franchisee which substantially impairs the franchisor's trade name or trademark; (F) The institution of insolvency or bankruptcy proceedings by or against a franchisee, or any assignment or attempted assignment by a franchisee of the franchise or the assets of the franchise for the benefit of creditors; (G) Failure of the franchisee to pay to the franchisor within thirty (30) days after receipt of notice any uncontested sums past due the franchisor and relating to the franchise; or (H) Failure of the franchisee to comply with federal, state or local law or regulations applicable and material to the operation of the franchise which could reasonably impair the franchisee's continued future performance;
(A) Failure by a franchisee to comply substantially with the requirements imposed or sought to be imposed upon the franchisee by the franchisor, which requirements are not discriminatory as compared with the requirements imposed on other similarly situated franchisees, either by their terms or in the manner of their enforcement, and which requirements are not in violation of any law or regulation;
(B) The failure by the franchisee to act in good faith and in a commercially reasonable manner in carrying out the terms of the franchise;
(C) Voluntary abandonment of the franchise;
(D) Conviction of the franchisee in a court of competent jurisdiction of an offense punishable by a term of imprisonment in excess of one (1) year;
(E) Any act by a franchisee which substantially impairs the franchisor's trade name or trademark;
(F) The institution of insolvency or bankruptcy proceedings by or against a franchisee, or any assignment or attempted assignment by a franchisee of the franchise or the assets of the franchise for the benefit of creditors;
(G) Failure of the franchisee to pay to the franchisor within thirty (30) days after receipt of notice any uncontested sums past due the franchisor and relating to the franchise; or
(H) Failure of the franchisee to comply with federal, state or local law or regulations applicable and material to the operation of the franchise which could reasonably impair the franchisee's continued future performance;
(5) "Good faith" means honesty in fact in the conduct or transaction concerned;
(6) "Person" means a natural person, corporation, partnership, trust or other entity and, in case of an entity, it includes any other entity which has a majority interest in such entity, or effectively controls such other entity, as well as the individual officers, directors and other persons in active control of the activities of each such entity; and
(7) "Sale, transfer or assignment" means any disposition of a franchise or any interest therein, with or without consideration, including, but not limited to, bequests, inheritance, gift, exchange, lease or license.
Acts 1989, ch. 392, § 2.
Tenn. Code Ann. § 47-18-2203 — TN Code / Title 47 / Chapter 18 / Section 47-18-2203
Part definitions
Status: in_force

As used in this part, unless the context otherwise requires: (1) "Consumer" means any renter, purchaser, or subscriber of goods or services from a video tape service provider or video tape seller; (2) "Informed, written consent of the consumer" means that the video tape service provider, prior to furnishing any video tape services, shall offer the consumer an opportunity to elect not to have personally identifiable information disclosed. Such notice shall be in writing in at least ten point (10 pt.) bold face type, affixed to any membership, subscriber or rental agreement between the consumer and the video tape service provider, and shall be posted on a sign in full and clear view of the consumer at the point of rental transaction, and shall read as follows: "This video tape service provider from time to time provides to marketers of goods and services, the names and addresses of customers and a description or subject matter of materials rented by video customers. You have the right to elect not to have your name, address or the description or subject matter of any material rented included in such description or subject matter of any material rented included in such lists. This election may be changed by you, in writing, at any time."; (3) "Ordinary course of business" means only debt collection activities, order fulfillment, request processing, and the transfer of ownership; (4) "Personally identifiable information" means any information which identifies a person as having requested or obtained specific video materials or services from a video tape service provider or video tape seller; (5) "Video tape seller" means any person engaged in the business of selling prerecorded video cassette tapes or similar audio visual materials; and (6) "Video tape service provider" means any person engaged in the business of rental of prerecorded video cassette tapes or similar audio visual materials. Acts 1999, ch. 342, § 4.
As used in this part, unless the context otherwise requires:
(1) "Consumer" means any renter, purchaser, or subscriber of goods or services from a video tape service provider or video tape seller;
(2) "Informed, written consent of the consumer" means that the video tape service provider, prior to furnishing any video tape services, shall offer the consumer an opportunity to elect not to have personally identifiable information disclosed. Such notice shall be in writing in at least ten point (10 pt.) bold face type, affixed to any membership, subscriber or rental agreement between the consumer and the video tape service provider, and shall be posted on a sign in full and clear view of the consumer at the point of rental transaction, and shall read as follows: "This video tape service provider from time to time provides to marketers of goods and services, the names and addresses of customers and a description or subject matter of materials rented by video customers. You have the right to elect not to have your name, address or the description or subject matter of any material rented included in such description or subject matter of any material rented included in such lists. This election may be changed by you, in writing, at any time.";
"This video tape service provider from time to time provides to marketers of goods and services, the names and addresses of customers and a description or subject matter of materials rented by video customers. You have the right to elect not to have your name, address or the description or subject matter of any material rented included in such description or subject matter of any material rented included in such lists. This election may be changed by you, in writing, at any time.";
(3) "Ordinary course of business" means only debt collection activities, order fulfillment, request processing, and the transfer of ownership;
(4) "Personally identifiable information" means any information which identifies a person as having requested or obtained specific video materials or services from a video tape service provider or video tape seller;
(5) "Video tape seller" means any person engaged in the business of selling prerecorded video cassette tapes or similar audio visual materials; and
(6) "Video tape service provider" means any person engaged in the business of rental of prerecorded video cassette tapes or similar audio visual materials.
Acts 1999, ch. 342, § 4.
Tenn. Code Ann. § 47-14-121 — TN Code / Title 47 / Chapter 14 / Section 47-14-121
Interest on judgments - Rate
Status: in_force

(a) Except as set forth in subsection (c), the interest rate on judgments per annum in all courts, including decrees, shall: (1) For any judgment entered between July 1 and December 31, be equal to two percent (2%) less than the formula rate per annum published by the commissioner of financial institutions, as required by § 47-14-105 , for June of the same year; or (2) For any judgment entered between January 1 and June 30, be equal to two percent (2%) less than the formula rate per annum published by the commissioner of financial institutions, as required by § 47-14-105 , for December of the prior year. (b) To assist parties and the courts in determining and applying the interest rate on judgments set forth in subsection (a) for the six-month period in which a judgment is entered, before or at the beginning of each six-month period the administrative office of the courts: (1) Shall calculate the interest rate on judgments that applies for the new six-month period pursuant to subsection (a); (2) Shall publish that rate on the administrative office of the courts' web site; and (3) Shall maintain and publish on that web site the judgment interest rates for each prior six-month period going back to the rate in effect for the six-month period beginning July 1, 2012. (c) Notwithstanding subsection (a) or (b), where a judgment is based on a statute, note, contract, or other writing that fixes a rate of interest within the limits provided in § 47-14-103 for particular categories of creditors, lenders or transactions, the judgment shall bear interest at the rate so fixed. Acts 1979, ch. 203, § 20; 1981, ch. 263, § 1; 2008, ch. 655, § 1; 2012, ch. 1043, § 1.
(a) Except as set forth in subsection (c), the interest rate on judgments per annum in all courts, including decrees, shall: (1) For any judgment entered between July 1 and December 31, be equal to two percent (2%) less than the formula rate per annum published by the commissioner of financial institutions, as required by § 47-14-105 , for June of the same year; or (2) For any judgment entered between January 1 and June 30, be equal to two percent (2%) less than the formula rate per annum published by the commissioner of financial institutions, as required by § 47-14-105 , for December of the prior year.
(1) For any judgment entered between July 1 and December 31, be equal to two percent (2%) less than the formula rate per annum published by the commissioner of financial institutions, as required by § 47-14-105 , for June of the same year; or
(2) For any judgment entered between January 1 and June 30, be equal to two percent (2%) less than the formula rate per annum published by the commissioner of financial institutions, as required by § 47-14-105 , for December of the prior year.
(b) To assist parties and the courts in determining and applying the interest rate on judgments set forth in subsection (a) for the six-month period in which a judgment is entered, before or at the beginning of each six-month period the administrative office of the courts: (1) Shall calculate the interest rate on judgments that applies for the new six-month period pursuant to subsection (a); (2) Shall publish that rate on the administrative office of the courts' web site; and (3) Shall maintain and publish on that web site the judgment interest rates for each prior six-month period going back to the rate in effect for the six-month period beginning July 1, 2012.
(1) Shall calculate the interest rate on judgments that applies for the new six-month period pursuant to subsection (a);
(2) Shall publish that rate on the administrative office of the courts' web site; and
(3) Shall maintain and publish on that web site the judgment interest rates for each prior six-month period going back to the rate in effect for the six-month period beginning July 1, 2012.
(c) Notwithstanding subsection (a) or (b), where a judgment is based on a statute, note, contract, or other writing that fixes a rate of interest within the limits provided in § 47-14-103 for particular categories of creditors, lenders or transactions, the judgment shall bear interest at the rate so fixed.
Acts 1979, ch. 203, § 20; 1981, ch. 263, § 1; 2008, ch. 655, § 1; 2012, ch. 1043, § 1.
Tenn. Code Ann. § 47-18-2105 — TN Code / Title 47 / Chapter 18 / Section 47-18-2105
Civil penalties and remedies
Status: in_force

(a) (1) Whenever the attorney general has reason to believe that a person has engaged in, is engaging in, or based upon information received from another law enforcement agency, is about to engage in any unlawful act or practice under this part and that proceedings would be in the public interest, the attorney general may bring an action in the name of the state against the person to restrain by temporary restraining order, temporary injunction, or permanent injunction the use of such act or practice. Additionally, the state may request an asset freeze or any other appropriate and necessary orders against such person. (2) As part of any action brought pursuant to subdivision (a)(1), the attorney general shall certify that the division of consumer affairs complied with § 47-18-5002(2) unless the attorney general determines that the purposes of this part will be substantially impaired by delaying legal proceedings. (b) The action may be brought in the chancery or circuit court in Davidson County or in a court of competent jurisdiction where the alleged violation of this part, identity theft, unfair, misleading or deceptive act or practice took place or is about to take place or in the county in which the person resides, has the person's principal place of business, conducts, transacts or has transacted business or, if the person cannot be found, in any of the locations listed in this subsection (b), in the county in which the person can be found. (c) The courts are authorized to issue orders and injunctions to restrain and prevent violations of this part or issue any other necessary or appropriate relief or orders. Such orders and injunctions shall be issued without bond to the state of Tennessee. (d) Notwithstanding any other law, a violation of this part shall be punishable by a civil penalty of whichever of the following is greater: ten thousand dollars ($10,000), five thousand dollars ($5,000) per day for each day that a person's identity has been assumed or ten (10) times the amount obtained or attempted to be obtained by the person using the identity theft. This civil penalty is supplemental, cumulative and in addition to any other penalties and relief available under the Tennessee Consumer Protection Act, or other laws, regulations or rules. (e) In any successful action commenced under this part, any ascertainable loss that a person has incurred as a result of a violation of this part, including, but not limited to, the identity theft or misleading, deceptive or unfair practices used to engage in violations of this part shall be recovered as restitution for each such person. The person shall also be awarded statutory interest on that ascertainable loss. (f) In any successful action commenced by the attorney general under this part, the court shall also order reimbursement to the attorney general of the reasonable attorneys' fees, costs and expenses of the investigation and prosecution under this part. (g) No court costs, litigation costs, discretionary costs or attorneys' fees shall be taxed or awarded against the state in an action commenced under this part or under the Tennessee Consumer Protection Act. (h) Any knowing or willful violation of the terms of an injunction or order issued pursuant to this part in an action commenced by the attorney general shall be punishable by a civil penalty of not more than five thousand dollars ($5,000) for each and every violation of the order recoverable by the state, in addition to any other appropriate relief, including, but not limited to, contempt sanctions and the awarding of attorneys' fees and costs to the state for any filings relating to violations of any order under this part. (i) An order or judgment issued as a result of an action commenced by the attorney general shall in no way affect individual rights of action which may exist independent of the recovery of money or property received under such order or judgment. If a particular person receives restitution as a result of an action commenced by the attorney general, those funds shall act only as a set-off against any award of money received in the person's private right of action proceedings. Amended by 2019 Tenn. Acts, ch. 459,Secs.s40, s41 eff. 9/30/2019. Amended by 2019 Tenn. Acts, ch. 459,s 39, eff. 9/30/2019. Acts 1999, ch. 201, § 6; 2007, ch. 170, §§ 7 - 9.
(a) (1) Whenever the attorney general has reason to believe that a person has engaged in, is engaging in, or based upon information received from another law enforcement agency, is about to engage in any unlawful act or practice under this part and that proceedings would be in the public interest, the attorney general may bring an action in the name of the state against the person to restrain by temporary restraining order, temporary injunction, or permanent injunction the use of such act or practice. Additionally, the state may request an asset freeze or any other appropriate and necessary orders against such person. (2) As part of any action brought pursuant to subdivision (a)(1), the attorney general shall certify that the division of consumer affairs complied with § 47-18-5002(2) unless the attorney general determines that the purposes of this part will be substantially impaired by delaying legal proceedings.
(1) Whenever the attorney general has reason to believe that a person has engaged in, is engaging in, or based upon information received from another law enforcement agency, is about to engage in any unlawful act or practice under this part and that proceedings would be in the public interest, the attorney general may bring an action in the name of the state against the person to restrain by temporary restraining order, temporary injunction, or permanent injunction the use of such act or practice. Additionally, the state may request an asset freeze or any other appropriate and necessary orders against such person.
(2) As part of any action brought pursuant to subdivision (a)(1), the attorney general shall certify that the division of consumer affairs complied with § 47-18-5002(2) unless the attorney general determines that the purposes of this part will be substantially impaired by delaying legal proceedings.
(b) The action may be brought in the chancery or circuit court in Davidson County or in a court of competent jurisdiction where the alleged violation of this part, identity theft, unfair, misleading or deceptive act or practice took place or is about to take place or in the county in which the person resides, has the person's principal place of business, conducts, transacts or has transacted business or, if the person cannot be found, in any of the locations listed in this subsection (b), in the county in which the person can be found.
(c) The courts are authorized to issue orders and injunctions to restrain and prevent violations of this part or issue any other necessary or appropriate relief or orders. Such orders and injunctions shall be issued without bond to the state of Tennessee.
(d) Notwithstanding any other law, a violation of this part shall be punishable by a civil penalty of whichever of the following is greater: ten thousand dollars ($10,000), five thousand dollars ($5,000) per day for each day that a person's identity has been assumed or ten (10) times the amount obtained or attempted to be obtained by the person using the identity theft. This civil penalty is supplemental, cumulative and in addition to any other penalties and relief available under the Tennessee Consumer Protection Act, or other laws, regulations or rules.
(e) In any successful action commenced under this part, any ascertainable loss that a person has incurred as a result of a violation of this part, including, but not limited to, the identity theft or misleading, deceptive or unfair practices used to engage in violations of this part shall be recovered as restitution for each such person. The person shall also be awarded statutory interest on that ascertainable loss.
(f) In any successful action commenced by the attorney general under this part, the court shall also order reimbursement to the attorney general of the reasonable attorneys' fees, costs and expenses of the investigation and prosecution under this part.
(g) No court costs, litigation costs, discretionary costs or attorneys' fees shall be taxed or awarded against the state in an action commenced under this part or under the Tennessee Consumer Protection Act.
(h) Any knowing or willful violation of the terms of an injunction or order issued pursuant to this part in an action commenced by the attorney general shall be punishable by a civil penalty of not more than five thousand dollars ($5,000) for each and every violation of the order recoverable by the state, in addition to any other appropriate relief, including, but not limited to, contempt sanctions and the awarding of attorneys' fees and costs to the state for any filings relating to violations of any order under this part.
(i) An order or judgment issued as a result of an action commenced by the attorney general shall in no way affect individual rights of action which may exist independent of the recovery of money or property received under such order or judgment. If a particular person receives restitution as a result of an action commenced by the attorney general, those funds shall act only as a set-off against any award of money received in the person's private right of action proceedings.
Amended by 2019 Tenn. Acts, ch. 459,Secs.s40, s41 eff. 9/30/2019.
Amended by 2019 Tenn. Acts, ch. 459,s 39, eff. 9/30/2019.
Acts 1999, ch. 201, § 6; 2007, ch. 170, §§ 7 - 9.
Tenn. Code Ann. § 47-14-102 — TN Code / Title 47 / Chapter 14 / Section 47-14-102
Definitions
Status: in_force

The following terms have the following meanings, subject to additional definitions, specifications and limitations contained in other statutes relating to particular categories of lenders or of transactions: (1) "Account purchase transaction" means an agreement under which a commercial entity sells accounts, instruments, documents, or chattel paper to another commercial entity subject to a discount or fee, regardless of whether the commercial entity has a repurchase obligation related to the transaction; (2) "Actuarial method" means the method of allocating payments made on a debt between the principal and interest pursuant to which payment is applied first to accumulated interest and any remainder is subtracted from, or any deficiency is added to, the unpaid principal balance of the debt; (3) "Applicable formula rate" at any given time is the greater of: (A) The "formula rate" in effect at such time; or (B) The "formula rate" last published in the Tennessee Administrative Register prior to such time, pursuant to § 47-14-105 ; (4) "Brokerage commissions" includes all fees paid to mortgage bankers, banks, savings and loan associations, savings banks, or other parties regularly engaged in the business of originating and arranging for the placement of loans secured by mortgages or deeds of trust upon real estate for services performed in the origination and placement of such loans with the third party lenders, whether the same are closed directly in the name of the lender or, in the alternative, in the name of such mortgage banker or other party with the intention to sell and transfer the same to such lender; provided, that such sale or a substantial portion thereof is completed within one (1) year from the closing of such loan or the completion of construction, whichever is later; (5) "Commitment fees" are compensation to the lender in return for its conditional or unconditional obligation during a certain period of time to make a loan or loans under specified terms and conditions; (6) "Effective rate of interest" is the simple rate of interest, i.e., the ratio between the interest payable on an obligation and the principal for a period of time, including the result of converting compound, discount, add-on, or other nominal rates of interest into simple rates of interest; (7) "Formula rate" means an annual rate of interest four (4) percentage points above the average prime loan rate (or the average short-term business loan rate, however denominated) for the most recent week for which such an average rate has been published by the board of governors of the Federal Reserve System, or twenty-four percent (24%) per annum, whichever is less; provided, that in the event that the board of governors ceases to publish the average rate, or in the event that the formula rate should be adjudicated or become inapplicable for any reason whatsoever, the formula rate is, and shall remain, twenty-four percent (24%) per annum until the general assembly otherwise provides. If the board of governors fails to publish the average rate for four (4) consecutive weeks, it shall be deemed to have ceased to publish the average rate; (8) "Interest" is compensation for the use or detention of, or forbearance to collect, money over a period of time, and does not include compensation for other purposes, including, but not limited to, time-price differentials, loan charges, brokerage commissions, or commitment fees. For example, when you borrow money, you pay the lender simple interest (which is like rent) for the use of the money. The amount of interest you pay depends on: (A) The principal, which is the amount you borrow; (B) The rate, which is a percent based on a period of time, usually one (1) year; and (C) The number of periods of time that you have the use of the money. Thus, interest equals principal × rate × time. Accordingly, to determine the interest charged for borrowing five hundred dollars ($500) for three (3) years if the rate of interest is nine percent (9%) per year, first calculate the interest for one (1) year using the proportion rate equal percent/base, or 9/100 equals I/500; where I stands for interest, interest equals 9 × 500/100 equals forty-five dollars ($45.00). For three (3) years, the interest equals 3 × $45.00 equals $135; or you can combine steps 1 and 2 so that interest for three (3) years equals (9% × $500) × 3 equals one hundred thirty-five dollars ($135), presuming that no payment is made toward the principal of the loan during the three-year period. Notwithstanding this subdivision (8), "interest" does not include any amount of a discount or fee in, or charged under, an account purchase transaction; (9) "Loan charges" are compensation to the lender for services or expenses directly incident to a loan or contract to make a loan, and do not include compensation for other purposes, including, but not limited to, time-price differentials, interest, brokerage commissions, or commitment fees; (10) "Principal" is the total amount of an obligation to pay money on which interest is to be computed. With respect to loans: (A) Principal is the total amount of money paid to, receivable by, credited to the account of, or payable for the account of, a borrower; (B) Loan charges and other charges for which the borrower contracts to pay may be included as principal, subject to such limitations as may be imposed by statute; and (C) Precomputed interest may not be included as principal for the purpose of determining the simple or the effective rate of interest; (11) "Time-price differential" is the difference, however denominated or expressed, between the amount charged on a sale of property, or a charge for services, for cash and the amount charged if payment were to be deferred or if payment were to be made in future installments; provided, that any difference in such amounts charged with respect to the sale of real property to be owned and occupied by the purchaser as the purchaser's principal place of residence for family residential purposes shall be considered to be interest rather than time-price differential; and (12) "Usury" is the collection of interest in excess of the maximum amounts authorized by or pursuant to this chapter or any other statute. Acts 1979, ch. 203, § 1; 1983, ch. 464, § 1; 2006, ch. 565, §§ 1, 2.
The following terms have the following meanings, subject to additional definitions, specifications and limitations contained in other statutes relating to particular categories of lenders or of transactions:
(1) "Account purchase transaction" means an agreement under which a commercial entity sells accounts, instruments, documents, or chattel paper to another commercial entity subject to a discount or fee, regardless of whether the commercial entity has a repurchase obligation related to the transaction;
(2) "Actuarial method" means the method of allocating payments made on a debt between the principal and interest pursuant to which payment is applied first to accumulated interest and any remainder is subtracted from, or any deficiency is added to, the unpaid principal balance of the debt;
(3) "Applicable formula rate" at any given time is the greater of: (A) The "formula rate" in effect at such time; or (B) The "formula rate" last published in the Tennessee Administrative Register prior to such time, pursuant to § 47-14-105 ;
(A) The "formula rate" in effect at such time; or
(B) The "formula rate" last published in the Tennessee Administrative Register prior to such time, pursuant to § 47-14-105 ;
(4) "Brokerage commissions" includes all fees paid to mortgage bankers, banks, savings and loan associations, savings banks, or other parties regularly engaged in the business of originating and arranging for the placement of loans secured by mortgages or deeds of trust upon real estate for services performed in the origination and placement of such loans with the third party lenders, whether the same are closed directly in the name of the lender or, in the alternative, in the name of such mortgage banker or other party with the intention to sell and transfer the same to such lender; provided, that such sale or a substantial portion thereof is completed within one (1) year from the closing of such loan or the completion of construction, whichever is later;
(5) "Commitment fees" are compensation to the lender in return for its conditional or unconditional obligation during a certain period of time to make a loan or loans under specified terms and conditions;
(6) "Effective rate of interest" is the simple rate of interest, i.e., the ratio between the interest payable on an obligation and the principal for a period of time, including the result of converting compound, discount, add-on, or other nominal rates of interest into simple rates of interest;
(7) "Formula rate" means an annual rate of interest four (4) percentage points above the average prime loan rate (or the average short-term business loan rate, however denominated) for the most recent week for which such an average rate has been published by the board of governors of the Federal Reserve System, or twenty-four percent (24%) per annum, whichever is less; provided, that in the event that the board of governors ceases to publish the average rate, or in the event that the formula rate should be adjudicated or become inapplicable for any reason whatsoever, the formula rate is, and shall remain, twenty-four percent (24%) per annum until the general assembly otherwise provides. If the board of governors fails to publish the average rate for four (4) consecutive weeks, it shall be deemed to have ceased to publish the average rate;
(8) "Interest" is compensation for the use or detention of, or forbearance to collect, money over a period of time, and does not include compensation for other purposes, including, but not limited to, time-price differentials, loan charges, brokerage commissions, or commitment fees. For example, when you borrow money, you pay the lender simple interest (which is like rent) for the use of the money. The amount of interest you pay depends on: (A) The principal, which is the amount you borrow; (B) The rate, which is a percent based on a period of time, usually one (1) year; and (C) The number of periods of time that you have the use of the money. Thus, interest equals principal × rate × time. Accordingly, to determine the interest charged for borrowing five hundred dollars ($500) for three (3) years if the rate of interest is nine percent (9%) per year, first calculate the interest for one (1) year using the proportion rate equal percent/base, or 9/100 equals I/500; where I stands for interest, interest equals 9 × 500/100 equals forty-five dollars ($45.00). For three (3) years, the interest equals 3 × $45.00 equals $135; or you can combine steps 1 and 2 so that interest for three (3) years equals (9% × $500) × 3 equals one hundred thirty-five dollars ($135), presuming that no payment is made toward the principal of the loan during the three-year period. Notwithstanding this subdivision (8), "interest" does not include any amount of a discount or fee in, or charged under, an account purchase transaction;
(A) The principal, which is the amount you borrow;
(B) The rate, which is a percent based on a period of time, usually one (1) year; and
(C) The number of periods of time that you have the use of the money. Thus, interest equals principal × rate × time. Accordingly, to determine the interest charged for borrowing five hundred dollars ($500) for three (3) years if the rate of interest is nine percent (9%) per year, first calculate the interest for one (1) year using the proportion rate equal percent/base, or 9/100 equals I/500; where I stands for interest, interest equals 9 × 500/100 equals forty-five dollars ($45.00). For three (3) years, the interest equals 3 × $45.00 equals $135; or you can combine steps 1 and 2 so that interest for three (3) years equals (9% × $500) × 3 equals one hundred thirty-five dollars ($135), presuming that no payment is made toward the principal of the loan during the three-year period. Notwithstanding this subdivision (8), "interest" does not include any amount of a discount or fee in, or charged under, an account purchase transaction;
Thus, interest equals principal × rate × time. Accordingly, to determine the interest charged for borrowing five hundred dollars ($500) for three (3) years if the rate of interest is nine percent (9%) per year, first calculate the interest for one (1) year using the proportion rate equal percent/base, or 9/100 equals I/500; where I stands for interest, interest equals 9 × 500/100 equals forty-five dollars ($45.00). For three (3) years, the interest equals 3 × $45.00 equals $135; or you can combine steps 1 and 2 so that interest for three (3) years equals (9% × $500) × 3 equals one hundred thirty-five dollars ($135), presuming that no payment is made toward the principal of the loan during the three-year period. Notwithstanding this subdivision (8), "interest" does not include any amount of a discount or fee in, or charged under, an account purchase transaction;
(9) "Loan charges" are compensation to the lender for services or expenses directly incident to a loan or contract to make a loan, and do not include compensation for other purposes, including, but not limited to, time-price differentials, interest, brokerage commissions, or commitment fees;
(10) "Principal" is the total amount of an obligation to pay money on which interest is to be computed. With respect to loans: (A) Principal is the total amount of money paid to, receivable by, credited to the account of, or payable for the account of, a borrower; (B) Loan charges and other charges for which the borrower contracts to pay may be included as principal, subject to such limitations as may be imposed by statute; and (C) Precomputed interest may not be included as principal for the purpose of determining the simple or the effective rate of interest;
(A) Principal is the total amount of money paid to, receivable by, credited to the account of, or payable for the account of, a borrower;
(B) Loan charges and other charges for which the borrower contracts to pay may be included as principal, subject to such limitations as may be imposed by statute; and
(C) Precomputed interest may not be included as principal for the purpose of determining the simple or the effective rate of interest;
(11) "Time-price differential" is the difference, however denominated or expressed, between the amount charged on a sale of property, or a charge for services, for cash and the amount charged if payment were to be deferred or if payment were to be made in future installments; provided, that any difference in such amounts charged with respect to the sale of real property to be owned and occupied by the purchaser as the purchaser's principal place of residence for family residential purposes shall be considered to be interest rather than time-price differential; and
(12) "Usury" is the collection of interest in excess of the maximum amounts authorized by or pursuant to this chapter or any other statute.
Acts 1979, ch. 203, § 1; 1983, ch. 464, § 1; 2006, ch. 565, §§ 1, 2.
Tenn. Code Ann. § 47-9-307 — TN Code / Title 47 / Chapter 9 / Section 47-9-307
Location of debtor
Status: in_force

(a) "Place of business." In this section, "place of business" means a place where a debtor conducts its affairs. (b) Debtor's location: general rules. Except as otherwise provided in this section, the following rules determine a debtor's location: (1) A debtor who is an individual is located at the individual's principal residence. (2) A debtor that is an organization and has only one (1) place of business is located at its place of business. (3) A debtor that is an organization and has more than one (1) place of business is located at its chief executive office. (c) Limitation of applicability of subsection (b). Subsection (b) applies only if a debtor's residence, place of business, or chief executive office, as applicable, is located in a jurisdiction whose law generally requires information concerning the existence of a nonpossessory security interest to be made generally available in a filing, recording, or registration system as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the collateral. If subsection (b) does not apply, the debtor is located in the District of Columbia. (d) Continuation of location: cessation of existence, etc. A person that ceases to exist, have a residence, or have a place of business continues to be located in the jurisdiction specified by subsections (b) and (c). (e) Location of registered organization organized under state law. A registered organization that is organized under the law of a state is located in that state. (f) Location of registered organization organized under federal law; bank branches and agencies. Except as otherwise provided in subsection (i), a registered organization that is organized under the law of the United States and a branch or agency of a bank that is not organized under the law of the United States or a state are located: (1) In the state that the law of the United States designates, if the law designates a state of location; (2) In the state that the registered organization, branch, or agency designates, if the law of the United States authorizes the registered organization, branch, or agency to designate its state of location, including by designating its main office, home office, or other comparable office; or (3) In the District of Columbia, if neither subdivision (f)(1) nor (f)(2) applies. (g) Continuation of location: change in status of registered organization. A registered organization continues to be located in the jurisdiction specified by subsection (e) or (f) notwithstanding: (1) The suspension, revocation, forfeiture, or lapse of the registered organization's status as such in its jurisdiction of organization; or (2) The dissolution, winding up, or cancellation of the existence of the registered organization. (h) Location of United States. The United States is located in the District of Columbia. (i) Location of foreign bank branch or agency if licensed in only one state. A branch or agency of a bank that is not organized under the law of the United States or a state is located in the state in which the branch or agency is licensed, if all branches and agencies of the bank are licensed in only one (1) state. (j) Location of foreign air carrier. A foreign air carrier under the Federal Aviation Act of 1958, as amended, is located at the designated office of the agent upon which service of process may be made on behalf of the carrier. (k) Section applies only to this part. This section applies only for purposes of this part. Acts 2000, ch. 846, § 1; 2012 , ch. 708, § 5.
(a) "Place of business." In this section, "place of business" means a place where a debtor conducts its affairs.
(b) Debtor's location: general rules. Except as otherwise provided in this section, the following rules determine a debtor's location: (1) A debtor who is an individual is located at the individual's principal residence. (2) A debtor that is an organization and has only one (1) place of business is located at its place of business. (3) A debtor that is an organization and has more than one (1) place of business is located at its chief executive office.
(1) A debtor who is an individual is located at the individual's principal residence.
(2) A debtor that is an organization and has only one (1) place of business is located at its place of business.
(3) A debtor that is an organization and has more than one (1) place of business is located at its chief executive office.
(c) Limitation of applicability of subsection (b). Subsection (b) applies only if a debtor's residence, place of business, or chief executive office, as applicable, is located in a jurisdiction whose law generally requires information concerning the existence of a nonpossessory security interest to be made generally available in a filing, recording, or registration system as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the collateral. If subsection (b) does not apply, the debtor is located in the District of Columbia.
(d) Continuation of location: cessation of existence, etc. A person that ceases to exist, have a residence, or have a place of business continues to be located in the jurisdiction specified by subsections (b) and (c).
(e) Location of registered organization organized under state law. A registered organization that is organized under the law of a state is located in that state.
(f) Location of registered organization organized under federal law; bank branches and agencies. Except as otherwise provided in subsection (i), a registered organization that is organized under the law of the United States and a branch or agency of a bank that is not organized under the law of the United States or a state are located: (1) In the state that the law of the United States designates, if the law designates a state of location; (2) In the state that the registered organization, branch, or agency designates, if the law of the United States authorizes the registered organization, branch, or agency to designate its state of location, including by designating its main office, home office, or other comparable office; or (3) In the District of Columbia, if neither subdivision (f)(1) nor (f)(2) applies.
(1) In the state that the law of the United States designates, if the law designates a state of location;
(2) In the state that the registered organization, branch, or agency designates, if the law of the United States authorizes the registered organization, branch, or agency to designate its state of location, including by designating its main office, home office, or other comparable office; or
(3) In the District of Columbia, if neither subdivision (f)(1) nor (f)(2) applies.
(g) Continuation of location: change in status of registered organization. A registered organization continues to be located in the jurisdiction specified by subsection (e) or (f) notwithstanding: (1) The suspension, revocation, forfeiture, or lapse of the registered organization's status as such in its jurisdiction of organization; or (2) The dissolution, winding up, or cancellation of the existence of the registered organization.
(1) The suspension, revocation, forfeiture, or lapse of the registered organization's status as such in its jurisdiction of organization; or
(2) The dissolution, winding up, or cancellation of the existence of the registered organization.
(h) Location of United States. The United States is located in the District of Columbia.
(i) Location of foreign bank branch or agency if licensed in only one state. A branch or agency of a bank that is not organized under the law of the United States or a state is located in the state in which the branch or agency is licensed, if all branches and agencies of the bank are licensed in only one (1) state.
(j) Location of foreign air carrier. A foreign air carrier under the Federal Aviation Act of 1958, as amended, is located at the designated office of the agent upon which service of process may be made on behalf of the carrier.
(k) Section applies only to this part. This section applies only for purposes of this part.
Acts 2000, ch. 846, § 1; 2012 , ch. 708, § 5.
Tenn. Code Ann. § 47-3-118 — TN Code / Title 47 / Chapter 3 / Section 47-3-118
Statute of limitations
Status: in_force

(a) Except as provided in subsection (e), an action to enforce the obligation of a party to pay a note payable at a definite time must be commenced within six (6) years after the due date or dates stated in the note or, if a due date is accelerated, within six (6) years after the accelerated due date. (b) Except as provided in subsection (d) or (e), if demand for payment is made to the maker of a note payable on demand, an action to enforce the obligation of a party to pay the note must be commenced within six (6) years after the demand. If no demand for payment is made to the maker, an action to enforce the note is barred if neither principal nor interest on the note has been paid for a continuous period of ten (10) years. (c) Except as provided in subsection (d), an action to enforce the obligation of a party to an unaccepted draft to pay the draft must be commenced within three (3) years after dishonor of the draft or ten (10) years after the date of the draft, whichever period expires first. (d) An action to enforce the obligation of the acceptor of a certified check or the issuer of a teller's check, cashier's check, or traveler's check must be commenced within three (3) years after demand for payment is made to the acceptor or issuer, as the case may be. (e) (1) An action to enforce the obligation of a party to a certificate of deposit to pay the instrument must be commenced within six (6) years after demand for payment is made to the maker, but if the instrument states a due date and the maker is not required to pay before that date, the six-year period begins when a demand for payment is in effect and the due date has passed. (2) This subsection (e) is subject to the requirements of § 45-2-710 . (f) An action to enforce the obligation of a party to pay an accepted draft, other than a certified check, must be commenced (i) within six (6) years after the due date or dates stated in the draft or acceptance if the obligation of the acceptor is payable at a definite time, or (ii) within six (6) years after the date of the acceptance if the obligation of the acceptor is payable on demand. (g) Unless governed by other law regarding claims for indemnity or contribution, an action (i) for conversion of an instrument, for money had and received, or like action based on conversion, (ii) for breach of warranty, or (iii) to enforce an obligation, duty, or right arising under this chapter and not governed by this section must be commenced within three (3) years after the cause of action accrues. Acts 1995, ch. 397, § 2; 2005, ch. 30, § 2.
(a) Except as provided in subsection (e), an action to enforce the obligation of a party to pay a note payable at a definite time must be commenced within six (6) years after the due date or dates stated in the note or, if a due date is accelerated, within six (6) years after the accelerated due date.
(b) Except as provided in subsection (d) or (e), if demand for payment is made to the maker of a note payable on demand, an action to enforce the obligation of a party to pay the note must be commenced within six (6) years after the demand. If no demand for payment is made to the maker, an action to enforce the note is barred if neither principal nor interest on the note has been paid for a continuous period of ten (10) years.
(c) Except as provided in subsection (d), an action to enforce the obligation of a party to an unaccepted draft to pay the draft must be commenced within three (3) years after dishonor of the draft or ten (10) years after the date of the draft, whichever period expires first.
(d) An action to enforce the obligation of the acceptor of a certified check or the issuer of a teller's check, cashier's check, or traveler's check must be commenced within three (3) years after demand for payment is made to the acceptor or issuer, as the case may be.
(e) (1) An action to enforce the obligation of a party to a certificate of deposit to pay the instrument must be commenced within six (6) years after demand for payment is made to the maker, but if the instrument states a due date and the maker is not required to pay before that date, the six-year period begins when a demand for payment is in effect and the due date has passed. (2) This subsection (e) is subject to the requirements of § 45-2-710 .
(1) An action to enforce the obligation of a party to a certificate of deposit to pay the instrument must be commenced within six (6) years after demand for payment is made to the maker, but if the instrument states a due date and the maker is not required to pay before that date, the six-year period begins when a demand for payment is in effect and the due date has passed.
(2) This subsection (e) is subject to the requirements of § 45-2-710 .
(f) An action to enforce the obligation of a party to pay an accepted draft, other than a certified check, must be commenced (i) within six (6) years after the due date or dates stated in the draft or acceptance if the obligation of the acceptor is payable at a definite time, or (ii) within six (6) years after the date of the acceptance if the obligation of the acceptor is payable on demand.
(g) Unless governed by other law regarding claims for indemnity or contribution, an action (i) for conversion of an instrument, for money had and received, or like action based on conversion, (ii) for breach of warranty, or (iii) to enforce an obligation, duty, or right arising under this chapter and not governed by this section must be commenced within three (3) years after the cause of action accrues.
Acts 1995, ch. 397, § 2; 2005, ch. 30, § 2.
Tenn. Code Ann. § 47-18-5527 — TN Code / Title 47 / Chapter 18 / Section 47-18-5527
Periodic reports and retention of records
Status: in_force

(a) A provider shall provide the accounting required by subsection (b): (1) Upon cancellation or termination of an agreement; and (2) Before cancellation or termination of any agreement: (A) At least once each month; and (B) Within five (5) business days after a request by an individual, but the provider need not comply with more than one (1) request in any calendar month. (b) A provider, in a record, shall provide each individual for whom it has established a plan an accounting of the following information: (1) The amount of money received from the individual since the last report; (2) The amounts and dates of disbursements made on the individual's behalf, or by the individual upon the direction of the provider, since the last report to each creditor listed in the plan; (3) The amounts deducted from the amount received from the individual; (4) The amount held in reserve; and (5) If, since the last report, a creditor has agreed to accept as payment in full an amount less than the principal amount of the debt owed by the individual: (A) The total amount and terms of the settlement; (B) The amount of the debt when the individual assented to the plan; (C) The amount of the debt when the creditor agreed to the settlement; and (D) The calculation of a settlement fee. (c) A provider shall maintain records for each individual for whom it provides debt-management services for five (5) years after the final payment made by the individual and produce a copy of them to the individual within a reasonable time after a request for them. The provider may use electronic or other means of storage of the records. Acts 2009, ch. 469, § 1.
(a) A provider shall provide the accounting required by subsection (b): (1) Upon cancellation or termination of an agreement; and (2) Before cancellation or termination of any agreement: (A) At least once each month; and (B) Within five (5) business days after a request by an individual, but the provider need not comply with more than one (1) request in any calendar month.
(1) Upon cancellation or termination of an agreement; and
(2) Before cancellation or termination of any agreement: (A) At least once each month; and (B) Within five (5) business days after a request by an individual, but the provider need not comply with more than one (1) request in any calendar month.
(A) At least once each month; and
(B) Within five (5) business days after a request by an individual, but the provider need not comply with more than one (1) request in any calendar month.
(b) A provider, in a record, shall provide each individual for whom it has established a plan an accounting of the following information: (1) The amount of money received from the individual since the last report; (2) The amounts and dates of disbursements made on the individual's behalf, or by the individual upon the direction of the provider, since the last report to each creditor listed in the plan; (3) The amounts deducted from the amount received from the individual; (4) The amount held in reserve; and (5) If, since the last report, a creditor has agreed to accept as payment in full an amount less than the principal amount of the debt owed by the individual: (A) The total amount and terms of the settlement; (B) The amount of the debt when the individual assented to the plan; (C) The amount of the debt when the creditor agreed to the settlement; and (D) The calculation of a settlement fee.
(1) The amount of money received from the individual since the last report;
(2) The amounts and dates of disbursements made on the individual's behalf, or by the individual upon the direction of the provider, since the last report to each creditor listed in the plan;
(3) The amounts deducted from the amount received from the individual;
(4) The amount held in reserve; and
(5) If, since the last report, a creditor has agreed to accept as payment in full an amount less than the principal amount of the debt owed by the individual: (A) The total amount and terms of the settlement; (B) The amount of the debt when the individual assented to the plan; (C) The amount of the debt when the creditor agreed to the settlement; and (D) The calculation of a settlement fee.
(A) The total amount and terms of the settlement;
(B) The amount of the debt when the individual assented to the plan;
(C) The amount of the debt when the creditor agreed to the settlement; and
(D) The calculation of a settlement fee.
(c) A provider shall maintain records for each individual for whom it provides debt-management services for five (5) years after the final payment made by the individual and produce a copy of them to the individual within a reasonable time after a request for them. The provider may use electronic or other means of storage of the records.
Acts 2009, ch. 469, § 1.
Tenn. Code Ann. § 47-11-111 — TN Code / Title 47 / Chapter 11 / Section 47-11-111
Credit life insurance added to retail installment contracts - Authorization required
Status: in_force

(a) The seller under any retail installment contract shall have no authority to collect any fees or charges for a policy of credit life insurance issued in connection with property purchased under a retail installment contract unless the consumer has specifically elected, evidenced by the consumer's signature on such contract, to authorize the addition of the policy of credit life insurance. (b) If the consumer did not authorize the purchase of such insurance, the consumer shall notify the seller of any unauthorized charges for such insurance that are imposed under the retail installment contract within three (3) months of the initial billing for such insurance. (c) If the consumer notifies the seller during the three-month period that such consumer did not authorize the purchase of such insurance and the seller cannot provide proof of authorization by such consumer, the seller shall refund an amount equal to a minimum of three (3) months' charges for such insurance, including a refund of any penalty or interest assessed with respect to such charge, if any. (d) If the consumer notifies the seller during the three-month period that such consumer did not authorize the services and the seller is able to prove authorization by such consumer, no refund shall be issued by the seller. Acts 1999, ch. 376, § 1.
(a) The seller under any retail installment contract shall have no authority to collect any fees or charges for a policy of credit life insurance issued in connection with property purchased under a retail installment contract unless the consumer has specifically elected, evidenced by the consumer's signature on such contract, to authorize the addition of the policy of credit life insurance.
(b) If the consumer did not authorize the purchase of such insurance, the consumer shall notify the seller of any unauthorized charges for such insurance that are imposed under the retail installment contract within three (3) months of the initial billing for such insurance.
(c) If the consumer notifies the seller during the three-month period that such consumer did not authorize the purchase of such insurance and the seller cannot provide proof of authorization by such consumer, the seller shall refund an amount equal to a minimum of three (3) months' charges for such insurance, including a refund of any penalty or interest assessed with respect to such charge, if any.
(d) If the consumer notifies the seller during the three-month period that such consumer did not authorize the services and the seller is able to prove authorization by such consumer, no refund shall be issued by the seller.
Acts 1999, ch. 376, § 1.
Tenn. Code Ann. § 47-18-3306 — TN Code / Title 47 / Chapter 18 / Section 47-18-3306
[Effective 7/1/2025] Responsibility according to role - Controller and processor
Status: in_force

(a) A processor shall adhere to the instructions of a controller and shall assist the controller in meeting its obligations under this part. The assistance must include: (1) Taking into account the nature of processing and the information available to the processor, by appropriate technical and organizational measures, insofar as this is reasonably practicable, to fulfill the controller's obligation to respond to consumer rights requests pursuant to § 47-18-3304 ; and (2) Providing necessary information to enable the controller to conduct and document data protection assessments pursuant to § 47-18-3307 . (b) A contract between a controller and a processor governs the processor's data processing procedures with respect to processing performed on behalf of the controller. The contract is binding and must clearly set forth instructions for processing data, the nature and purpose of processing, the type of data subject to processing, the duration of processing, and the rights and obligations of both parties. The contract must also include requirements that the processor shall: (1) Ensure that each person processing personal information is subject to a duty of confidentiality with respect to the data; (2) At the controller's direction, delete or return all personal information to the controller as requested at the end of the provision of services, unless retention of the personal information is required by law; (3) Upon the reasonable request of the controller, make available to the controller all information in its possession necessary to demonstrate the processor's compliance with the obligations in this part; (4) Allow, and cooperate with, reasonable assessments by the controller or the controller's designated assessor; alternatively, the processor may arrange for a qualified and independent assessor to conduct an assessment of the processor's policies and technical and organizational measures in support of the obligations under this part using an appropriate and accepted control standard or framework and assessment procedure for the assessments. The processor shall provide a report of each assessment to the controller upon request; and (5) Engage a subcontractor pursuant to a written contract in that requires the subcontractor to meet the obligations of the processor with respect to the personal information. (c) This section does not relieve a controller or a processor from the liabilities imposed on it by virtue of its role in the processing relationship as described in subsection (b). (d) Determining whether a person is acting as a controller or processor with respect to a specific processing of data is a fact-based determination that depends upon the context in which personal information is to be processed. A processor that continues to adhere to a controller's instructions with respect to a specific processing of personal information remains a processor. Added by 2023 Tenn. Acts, ch. 408, s 2, eff. 7/1/2025.
(a) A processor shall adhere to the instructions of a controller and shall assist the controller in meeting its obligations under this part. The assistance must include: (1) Taking into account the nature of processing and the information available to the processor, by appropriate technical and organizational measures, insofar as this is reasonably practicable, to fulfill the controller's obligation to respond to consumer rights requests pursuant to § 47-18-3304 ; and (2) Providing necessary information to enable the controller to conduct and document data protection assessments pursuant to § 47-18-3307 .
(1) Taking into account the nature of processing and the information available to the processor, by appropriate technical and organizational measures, insofar as this is reasonably practicable, to fulfill the controller's obligation to respond to consumer rights requests pursuant to § 47-18-3304 ; and
(2) Providing necessary information to enable the controller to conduct and document data protection assessments pursuant to § 47-18-3307 .
(b) A contract between a controller and a processor governs the processor's data processing procedures with respect to processing performed on behalf of the controller. The contract is binding and must clearly set forth instructions for processing data, the nature and purpose of processing, the type of data subject to processing, the duration of processing, and the rights and obligations of both parties. The contract must also include requirements that the processor shall: (1) Ensure that each person processing personal information is subject to a duty of confidentiality with respect to the data; (2) At the controller's direction, delete or return all personal information to the controller as requested at the end of the provision of services, unless retention of the personal information is required by law; (3) Upon the reasonable request of the controller, make available to the controller all information in its possession necessary to demonstrate the processor's compliance with the obligations in this part; (4) Allow, and cooperate with, reasonable assessments by the controller or the controller's designated assessor; alternatively, the processor may arrange for a qualified and independent assessor to conduct an assessment of the processor's policies and technical and organizational measures in support of the obligations under this part using an appropriate and accepted control standard or framework and assessment procedure for the assessments. The processor shall provide a report of each assessment to the controller upon request; and (5) Engage a subcontractor pursuant to a written contract in that requires the subcontractor to meet the obligations of the processor with respect to the personal information.
(1) Ensure that each person processing personal information is subject to a duty of confidentiality with respect to the data;
(2) At the controller's direction, delete or return all personal information to the controller as requested at the end of the provision of services, unless retention of the personal information is required by law;
(3) Upon the reasonable request of the controller, make available to the controller all information in its possession necessary to demonstrate the processor's compliance with the obligations in this part;
(4) Allow, and cooperate with, reasonable assessments by the controller or the controller's designated assessor; alternatively, the processor may arrange for a qualified and independent assessor to conduct an assessment of the processor's policies and technical and organizational measures in support of the obligations under this part using an appropriate and accepted control standard or framework and assessment procedure for the assessments. The processor shall provide a report of each assessment to the controller upon request; and
(5) Engage a subcontractor pursuant to a written contract in that requires the subcontractor to meet the obligations of the processor with respect to the personal information.
(c) This section does not relieve a controller or a processor from the liabilities imposed on it by virtue of its role in the processing relationship as described in subsection (b).
(d) Determining whether a person is acting as a controller or processor with respect to a specific processing of data is a fact-based determination that depends upon the context in which personal information is to be processed. A processor that continues to adhere to a controller's instructions with respect to a specific processing of personal information remains a processor.
Added by 2023 Tenn. Acts, ch. 408, s 2, eff. 7/1/2025.
Tenn. Code Ann. § 47-14-108 — TN Code / Title 47 / Chapter 14 / Section 47-14-108
Prepayment of loans - Contracts restricting prepayment of loans
Status: in_force

(a) Except as limited by statutory provisions expressly applicable thereto, the privilege of prepayment of a loan, in whole or in part, and any refunds or premiums with respect thereto, shall be governed by contract between the parties. (b) (1) Any contract for a consumer loan that: (A) Either prohibits prepayment or imposes a penalty for prepayment; and (B) Is not subject to the federal Truth in Lending Act, compiled in 15 U.S.C. § 1601 et seq. and its implementing Regulation Z, compiled in 12 CFR 226 et seq. shall state on its face in at least ten (10) point bold type in language separated from the other language in the contract by bold print dividing lines that it cannot be prepaid or that there is a penalty for prepayment. (2) If such contract does not comply with subdivision (b)(1), the provision prohibiting prepayment or imposing the prepayment penalty shall be unenforceable. (3) For purposes of this subsection (b), "consumer loan" means an extension of credit: (A) To one (1) or more natural persons; (B) Primarily for personal, family or household purposes; and (C) Secured by real property or secured by personal property used or expected to be used as the principal dwelling of the consumer. Acts 1979, ch. 203, § 7; 2000, ch. 629, § 1; 2000, ch. 846, § 41.
(a) Except as limited by statutory provisions expressly applicable thereto, the privilege of prepayment of a loan, in whole or in part, and any refunds or premiums with respect thereto, shall be governed by contract between the parties.
(b) (1) Any contract for a consumer loan that: (A) Either prohibits prepayment or imposes a penalty for prepayment; and (B) Is not subject to the federal Truth in Lending Act, compiled in 15 U.S.C. § 1601 et seq. and its implementing Regulation Z, compiled in 12 CFR 226 et seq. shall state on its face in at least ten (10) point bold type in language separated from the other language in the contract by bold print dividing lines that it cannot be prepaid or that there is a penalty for prepayment. (2) If such contract does not comply with subdivision (b)(1), the provision prohibiting prepayment or imposing the prepayment penalty shall be unenforceable. (3) For purposes of this subsection (b), "consumer loan" means an extension of credit: (A) To one (1) or more natural persons; (B) Primarily for personal, family or household purposes; and (C) Secured by real property or secured by personal property used or expected to be used as the principal dwelling of the consumer.
(1) Any contract for a consumer loan that: (A) Either prohibits prepayment or imposes a penalty for prepayment; and (B) Is not subject to the federal Truth in Lending Act, compiled in 15 U.S.C. § 1601 et seq. and its implementing Regulation Z, compiled in 12 CFR 226 et seq. shall state on its face in at least ten (10) point bold type in language separated from the other language in the contract by bold print dividing lines that it cannot be prepaid or that there is a penalty for prepayment.
(A) Either prohibits prepayment or imposes a penalty for prepayment; and
(B) Is not subject to the federal Truth in Lending Act, compiled in 15 U.S.C. § 1601 et seq. and its implementing Regulation Z, compiled in 12 CFR 226 et seq. shall state on its face in at least ten (10) point bold type in language separated from the other language in the contract by bold print dividing lines that it cannot be prepaid or that there is a penalty for prepayment.
shall state on its face in at least ten (10) point bold type in language separated from the other language in the contract by bold print dividing lines that it cannot be prepaid or that there is a penalty for prepayment.
(2) If such contract does not comply with subdivision (b)(1), the provision prohibiting prepayment or imposing the prepayment penalty shall be unenforceable.
(3) For purposes of this subsection (b), "consumer loan" means an extension of credit: (A) To one (1) or more natural persons; (B) Primarily for personal, family or household purposes; and (C) Secured by real property or secured by personal property used or expected to be used as the principal dwelling of the consumer.
(A) To one (1) or more natural persons;
(B) Primarily for personal, family or household purposes; and
(C) Secured by real property or secured by personal property used or expected to be used as the principal dwelling of the consumer.
Acts 1979, ch. 203, § 7; 2000, ch. 629, § 1; 2000, ch. 846, § 41.
Tenn. Code Ann. § 47-2-723 — TN Code / Title 47 / Chapter 2 / Section 47-2-723
Proof of market price - Time and place
Status: in_force

(1) If an action based on anticipatory repudiation comes to trial before the time for performance with respect to some or all of the goods, any damages based on market price (§ 47-2-708 or § 47-2-713 ) shall be determined according to the price of such goods prevailing at the time when the aggrieved party learned of the repudiation. (2) If evidence of a price prevailing at the times or places described in this chapter is not readily available the price prevailing within any reasonable time before or after the time described or at any other place which in commercial judgment or under usage of trade would serve as a reasonable substitute for the one described may be used, making any proper allowance for the cost of transporting the goods to or from such other place. (3) Evidence of a relevant price prevailing at a time or place other than the one described in this chapter offered by one (1) party is not admissible unless and until he has given the other party such notice as the court finds sufficient to prevent unfair surprise. Acts 1963, ch. 81, § 1 (2-723).
(1) If an action based on anticipatory repudiation comes to trial before the time for performance with respect to some or all of the goods, any damages based on market price (§ 47-2-708 or § 47-2-713 ) shall be determined according to the price of such goods prevailing at the time when the aggrieved party learned of the repudiation.
(2) If evidence of a price prevailing at the times or places described in this chapter is not readily available the price prevailing within any reasonable time before or after the time described or at any other place which in commercial judgment or under usage of trade would serve as a reasonable substitute for the one described may be used, making any proper allowance for the cost of transporting the goods to or from such other place.
(3) Evidence of a relevant price prevailing at a time or place other than the one described in this chapter offered by one (1) party is not admissible unless and until he has given the other party such notice as the court finds sufficient to prevent unfair surprise.
Acts 1963, ch. 81, § 1 (2-723).
Tenn. Code Ann. § 47-18-5533 — TN Code / Title 47 / Chapter 18 / Section 47-18-5533
Administrative remedies
Status: in_force

(a) The administrator may enforce this part and rules adopted under this part by taking one (1) or more of the following actions: (1) Ordering a provider or a director, employee or other agent of a provider to cease and desist from any violations; (2) Ordering a provider or a person that has caused a violation to correct the violation, including making restitution of money or property to a person aggrieved by a violation; (3) Subject to adjustment of the dollar amount pursuant to § 47-18-5532(f) , imposing on a provider or a person who has caused a violation a civil penalty not exceeding ten thousand dollars ($10,000) for each violation of this part or any rule promulgated pursuant to this part; (4) Prosecuting a civil action to: (A) Enforce an order; (B) Obtain restitution or an injunction or other equitable relief, or both; or (5) Intervening in an action brought under § 47-18-5535 . (b) Subject to adjustment of the dollar amount pursuant to § 47-18-5532(f) , if a person violates or knowingly authorizes, directs or aids in the violation of a final order issued under subdivision (a)(1) or (a)(2), the administrator may impose a civil penalty not exceeding twenty thousand dollars ($20,000) for each violation. (c) The administrator may maintain an action to enforce this part in any county. (d) The administrator may recover the reasonable costs of enforcing this part under subsections (a)-(c), including attorney's fees based on the hours reasonably expended and the hourly rates for attorneys of comparable experience in the community. (e) In determining the amount of a civil penalty to impose under subsection (a) or (b), the administrator shall consider the seriousness of the violation, the good faith of the violator, any previous violations by the violator, the deleterious effect of the violation on the public and any other factor the administrator considers relevant to the determination of the civil penalty. Amended by 2015 Tenn. Acts, ch. 339,s 28, eff. 7/1/2015. Acts 2009, ch. 469, § 1.
(a) The administrator may enforce this part and rules adopted under this part by taking one (1) or more of the following actions: (1) Ordering a provider or a director, employee or other agent of a provider to cease and desist from any violations; (2) Ordering a provider or a person that has caused a violation to correct the violation, including making restitution of money or property to a person aggrieved by a violation; (3) Subject to adjustment of the dollar amount pursuant to § 47-18-5532(f) , imposing on a provider or a person who has caused a violation a civil penalty not exceeding ten thousand dollars ($10,000) for each violation of this part or any rule promulgated pursuant to this part; (4) Prosecuting a civil action to: (A) Enforce an order; (B) Obtain restitution or an injunction or other equitable relief, or both; or (5) Intervening in an action brought under § 47-18-5535 .
(1) Ordering a provider or a director, employee or other agent of a provider to cease and desist from any violations;
(2) Ordering a provider or a person that has caused a violation to correct the violation, including making restitution of money or property to a person aggrieved by a violation;
(3) Subject to adjustment of the dollar amount pursuant to § 47-18-5532(f) , imposing on a provider or a person who has caused a violation a civil penalty not exceeding ten thousand dollars ($10,000) for each violation of this part or any rule promulgated pursuant to this part;
(4) Prosecuting a civil action to: (A) Enforce an order; (B) Obtain restitution or an injunction or other equitable relief, or both; or
(A) Enforce an order;
(B) Obtain restitution or an injunction or other equitable relief, or both; or
(5) Intervening in an action brought under § 47-18-5535 .
(b) Subject to adjustment of the dollar amount pursuant to § 47-18-5532(f) , if a person violates or knowingly authorizes, directs or aids in the violation of a final order issued under subdivision (a)(1) or (a)(2), the administrator may impose a civil penalty not exceeding twenty thousand dollars ($20,000) for each violation.
(c) The administrator may maintain an action to enforce this part in any county.
(d) The administrator may recover the reasonable costs of enforcing this part under subsections (a)-(c), including attorney's fees based on the hours reasonably expended and the hourly rates for attorneys of comparable experience in the community.
(e) In determining the amount of a civil penalty to impose under subsection (a) or (b), the administrator shall consider the seriousness of the violation, the good faith of the violator, any previous violations by the violator, the deleterious effect of the violation on the public and any other factor the administrator considers relevant to the determination of the civil penalty.
Amended by 2015 Tenn. Acts, ch. 339,s 28, eff. 7/1/2015.
Acts 2009, ch. 469, § 1.
Tenn. Code Ann. § 47-18-3310 — TN Code / Title 47 / Chapter 18 / Section 47-18-3310
[Effective 7/1/2025] Investigative authority
Status: in_force

If the attorney general and reporter has reasonable cause to believe that an individual, controller, or processor has engaged in, is engaging in, or is about to engage in a violation of this part, then the attorney general and reporter may issue a civil investigative demand. Added by 2023 Tenn. Acts, ch. 408, s 2, eff. 7/1/2025.
If the attorney general and reporter has reasonable cause to believe that an individual, controller, or processor has engaged in, is engaging in, or is about to engage in a violation of this part, then the attorney general and reporter may issue a civil investigative demand.
Added by 2023 Tenn. Acts, ch. 408, s 2, eff. 7/1/2025.
Tenn. Code Ann. § 47-3-308 — TN Code / Title 47 / Chapter 3 / Section 47-3-308
Proof of signatures and status as holder in due course
Status: in_force

(a) In an action with respect to an instrument, the authenticity of, and authority to make, each signature on the instrument is admitted unless specifically denied in the pleadings. If the validity of a signature is denied in the pleadings, the burden of establishing validity is on the person claiming validity, but the signature is presumed to be authentic and authorized unless the action is to enforce the liability of the purported signer and the signer is dead or incompetent at the time of trial of the issue of validity of the signature. If an action to enforce the instrument is brought against a person as the undisclosed principal of a person who signed the instrument as a party to the instrument, the plaintiff has the burden of establishing that the defendant is liable on the instrument as a represented person under § 47-3-402(a) . (b) If the validity of signatures is admitted or proved and there is compliance with subsection (a), a plaintiff producing the instrument is entitled to payment if the plaintiff proves entitlement to enforce the instrument under § 47-3-301 , unless the defendant proves a defense or claim in recoupment. If a defense or claim in recoupment is proved, the right to payment of the plaintiff is subject to the defense or claim, except to the extent the plaintiff proves that the plaintiff has rights of a holder in due course which are not subject to the defense or claim. (c) The presumption under subsection (a) that a signature is presumed to be authentic and authorized does not apply to language, numbers, or symbols placed on a payee-initiated demand draft in lieu of the drawer's signature. In an action to enforce a payee-initiated demand draft against the drawer, the plaintiff has the burden of establishing that the drawer is liable thereon. Acts 1995, ch. 397, § 2; 2003, ch. 62, § 4.
(a) In an action with respect to an instrument, the authenticity of, and authority to make, each signature on the instrument is admitted unless specifically denied in the pleadings. If the validity of a signature is denied in the pleadings, the burden of establishing validity is on the person claiming validity, but the signature is presumed to be authentic and authorized unless the action is to enforce the liability of the purported signer and the signer is dead or incompetent at the time of trial of the issue of validity of the signature. If an action to enforce the instrument is brought against a person as the undisclosed principal of a person who signed the instrument as a party to the instrument, the plaintiff has the burden of establishing that the defendant is liable on the instrument as a represented person under § 47-3-402(a) .
(b) If the validity of signatures is admitted or proved and there is compliance with subsection (a), a plaintiff producing the instrument is entitled to payment if the plaintiff proves entitlement to enforce the instrument under § 47-3-301 , unless the defendant proves a defense or claim in recoupment. If a defense or claim in recoupment is proved, the right to payment of the plaintiff is subject to the defense or claim, except to the extent the plaintiff proves that the plaintiff has rights of a holder in due course which are not subject to the defense or claim.
(c) The presumption under subsection (a) that a signature is presumed to be authentic and authorized does not apply to language, numbers, or symbols placed on a payee-initiated demand draft in lieu of the drawer's signature. In an action to enforce a payee-initiated demand draft against the drawer, the plaintiff has the burden of establishing that the drawer is liable thereon.
Acts 1995, ch. 397, § 2; 2003, ch. 62, § 4.
Tenn. Code Ann. § 47-26-704 — TN Code / Title 47 / Chapter 26 / Section 47-26-704
Seal of inspection
Status: in_force

(a) If an inspection or comparative test reveals that the moisture-measuring device being inspected or tested conforms to the standards and specifications established by the department, the department shall cause it to be marked with an appropriate seal. (b) Any moisture-measuring device, which upon inspection is found not to conform with the specifications and standards established by the department, shall be marked with an appropriate seal showing such device to be defective. The seal shall not be altered or removed until the moisture-measuring device is properly repaired and reinspected. The department shall notify the owner or user of such device of its defective condition. Notification shall be made on an inspection form prepared by the department. Acts 1977, ch. 138, § 4; T.C.A., § 71-704.
(a) If an inspection or comparative test reveals that the moisture-measuring device being inspected or tested conforms to the standards and specifications established by the department, the department shall cause it to be marked with an appropriate seal.
(b) Any moisture-measuring device, which upon inspection is found not to conform with the specifications and standards established by the department, shall be marked with an appropriate seal showing such device to be defective. The seal shall not be altered or removed until the moisture-measuring device is properly repaired and reinspected. The department shall notify the owner or user of such device of its defective condition. Notification shall be made on an inspection form prepared by the department.
Acts 1977, ch. 138, § 4; T.C.A., § 71-704.
Tenn. Code Ann. § 47-2a-501 — TN Code / Title 47 / Chapter 2a / Section 47-2a-501
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-501 - Default - Procedure
Status: in_force

(1) Whether the lessor or the lessee is in default under a lease contract is determined by the lease agreement and this chapter. (2) If the lessor or the lessee is in default under the lease contract, the party seeking enforcement has rights and remedies as provided in this chapter and, except as limited by this chapter, as provided in the lease agreement. (3) If the lessor or the lessee is in default under the lease contract, the party seeking enforcement may reduce the party's claim to judgment, or otherwise enforce the lease contract by self-help or any available judicial procedure or nonjudicial procedure, including administrative proceeding, arbitration, or the like, in accordance with this chapter. (4) Except as otherwise provided in § 47-1-305(a) or this chapter or the lease agreement, the rights and remedies referred to in subdivisions (2) and (3) are cumulative. (5) If the lease agreement covers both real property and goods, the party seeking enforcement may proceed under this part as to the goods, or under other applicable law as to both the real property and the goods in accordance with that party's rights and remedies in respect of the real property, in which case this part does not apply. Acts 1993, ch. 398, § 1; 2008 , ch. 930, § 5.
(1) Whether the lessor or the lessee is in default under a lease contract is determined by the lease agreement and this chapter.
(2) If the lessor or the lessee is in default under the lease contract, the party seeking enforcement has rights and remedies as provided in this chapter and, except as limited by this chapter, as provided in the lease agreement.
(3) If the lessor or the lessee is in default under the lease contract, the party seeking enforcement may reduce the party's claim to judgment, or otherwise enforce the lease contract by self-help or any available judicial procedure or nonjudicial procedure, including administrative proceeding, arbitration, or the like, in accordance with this chapter.
(4) Except as otherwise provided in § 47-1-305(a) or this chapter or the lease agreement, the rights and remedies referred to in subdivisions (2) and (3) are cumulative.
(5) If the lease agreement covers both real property and goods, the party seeking enforcement may proceed under this part as to the goods, or under other applicable law as to both the real property and the goods in accordance with that party's rights and remedies in respect of the real property, in which case this part does not apply.
Acts 1993, ch. 398, § 1; 2008 , ch. 930, § 5.
Tenn. Code Ann. § 47-18-5523 — TN Code / Title 47 / Chapter 18 / Section 47-18-5523
Fees and other charges
Status: in_force

(a) A provider may not impose directly or indirectly a fee or other charge on an individual or receive money from or on behalf of an individual for debt-management services except as permitted by this section. (b) A provider may not impose charges or receive payment for debt-management services until the provider and the individual have signed an agreement that complies with §§ 47-18-5519 and 47-18-5528 . (c) If an individual assents to an agreement, a provider may not impose a fee or other charge for educational or counseling services, or the like, except as otherwise provided in this subsection (c) and § 47-18-5528(d) . The administrator may authorize a provider to charge a fee based on the nature and extent of the educational or counseling services furnished by the provider. (d) Subject to adjustment of dollar amounts pursuant to § 47-18-5532(f) , the following rules apply: (1) If an individual assents to a plan that contemplates that creditors will reduce finance charges or fees for late payment, default or delinquency, the provider may charge: (A) A fee not exceeding fifty dollars ($50.00) for consultation, obtaining a credit report, setting up an account, and the like; and (B) A monthly service fee, not to exceed ten dollars ($10.00) times the number of creditors remaining in a plan at the time the fee is assessed, but not more than fifty dollars ($50.00) in any month; (2) [Deleted by 2014 amendment, effective July 1, 2014.] (3) [Deleted by 2014 amendment, effective July 1, 2014.] (4) Except as otherwise provided in § 47-18-5528(d) , if an individual does not assent to an agreement, a provider may receive for educational and counseling services it provides to the individual a fee not exceeding one hundred dollars ($100) or, with the approval of the administrator, a larger fee. The administrator may approve a fee larger than one hundred dollars ($100) if the nature and extent of the educational and counseling services warrant the larger fee. (e) If, before the expiration of ninety (90) days after the completion or termination of educational or counseling services, an individual assents to an agreement, the provider shall refund to the individual any fee paid pursuant to subdivision (d)(4). (f) If an individual assents to an agreement that contemplates that creditors will settle debts for less than the amount of the debt owed at the time of settlement, a provider may not request or receive payment of any fee or consideration until and unless: (1) The provider has renegotiated, settled, reduced or otherwise altered the terms of at least one (1) debt pursuant to a settlement agreement or other valid contractual agreement executed by the individual; (2) The individual has made at least one (1) payment pursuant to that settlement agreement or other valid contractual agreement between the individual and the creditor or debt collector; and (3) To the extent that debts enrolled in a service are renegotiated, settled, reduced or otherwise altered individually, the fee or consideration either: (A) Bears the same proportional relationship to the total fee for renegotiating, settling, reducing or otherwise altering the terms of the entire debt balance as the individual debt amount bears to the entire debt amount. The individual debt amount and the entire debt amount are those owed at the time the debt was enrolled in the service; or (B) Is a percentage of the amount saved as a result of the renegotiation, settlement, reduction or alteration. The percentage charged cannot change from one individual debt to another. The amount saved is the difference between the amount owed at the time the debt was enrolled in the service and the amount actually paid to satisfy the debt. (g) Subject to adjustment of the dollar amount pursuant to § 47-18-5532(f) , if a payment to a provider by an individual under this part is dishonored, a provider may impose a reasonable charge on the individual, not to exceed the lesser of twenty-five dollars ($25.00) and the amount permitted by law other than this part. Amended by 2014 Tenn. Acts, ch. 639,s 2, eff. 7/1/2014. Amended by 2014 Tenn. Acts, ch. 639,s 1, eff. 7/1/2014. Acts 2009, ch. 469, § 1.
(a) A provider may not impose directly or indirectly a fee or other charge on an individual or receive money from or on behalf of an individual for debt-management services except as permitted by this section.
(b) A provider may not impose charges or receive payment for debt-management services until the provider and the individual have signed an agreement that complies with §§ 47-18-5519 and 47-18-5528 .
(c) If an individual assents to an agreement, a provider may not impose a fee or other charge for educational or counseling services, or the like, except as otherwise provided in this subsection (c) and § 47-18-5528(d) . The administrator may authorize a provider to charge a fee based on the nature and extent of the educational or counseling services furnished by the provider.
(d) Subject to adjustment of dollar amounts pursuant to § 47-18-5532(f) , the following rules apply: (1) If an individual assents to a plan that contemplates that creditors will reduce finance charges or fees for late payment, default or delinquency, the provider may charge: (A) A fee not exceeding fifty dollars ($50.00) for consultation, obtaining a credit report, setting up an account, and the like; and (B) A monthly service fee, not to exceed ten dollars ($10.00) times the number of creditors remaining in a plan at the time the fee is assessed, but not more than fifty dollars ($50.00) in any month; (2) [Deleted by 2014 amendment, effective July 1, 2014.] (3) [Deleted by 2014 amendment, effective July 1, 2014.] (4) Except as otherwise provided in § 47-18-5528(d) , if an individual does not assent to an agreement, a provider may receive for educational and counseling services it provides to the individual a fee not exceeding one hundred dollars ($100) or, with the approval of the administrator, a larger fee. The administrator may approve a fee larger than one hundred dollars ($100) if the nature and extent of the educational and counseling services warrant the larger fee.
(1) If an individual assents to a plan that contemplates that creditors will reduce finance charges or fees for late payment, default or delinquency, the provider may charge: (A) A fee not exceeding fifty dollars ($50.00) for consultation, obtaining a credit report, setting up an account, and the like; and (B) A monthly service fee, not to exceed ten dollars ($10.00) times the number of creditors remaining in a plan at the time the fee is assessed, but not more than fifty dollars ($50.00) in any month;
(A) A fee not exceeding fifty dollars ($50.00) for consultation, obtaining a credit report, setting up an account, and the like; and
(B) A monthly service fee, not to exceed ten dollars ($10.00) times the number of creditors remaining in a plan at the time the fee is assessed, but not more than fifty dollars ($50.00) in any month;
(2) [Deleted by 2014 amendment, effective July 1, 2014.]
(3) [Deleted by 2014 amendment, effective July 1, 2014.]
(4) Except as otherwise provided in § 47-18-5528(d) , if an individual does not assent to an agreement, a provider may receive for educational and counseling services it provides to the individual a fee not exceeding one hundred dollars ($100) or, with the approval of the administrator, a larger fee. The administrator may approve a fee larger than one hundred dollars ($100) if the nature and extent of the educational and counseling services warrant the larger fee.
(e) If, before the expiration of ninety (90) days after the completion or termination of educational or counseling services, an individual assents to an agreement, the provider shall refund to the individual any fee paid pursuant to subdivision (d)(4).
(f) If an individual assents to an agreement that contemplates that creditors will settle debts for less than the amount of the debt owed at the time of settlement, a provider may not request or receive payment of any fee or consideration until and unless: (1) The provider has renegotiated, settled, reduced or otherwise altered the terms of at least one (1) debt pursuant to a settlement agreement or other valid contractual agreement executed by the individual; (2) The individual has made at least one (1) payment pursuant to that settlement agreement or other valid contractual agreement between the individual and the creditor or debt collector; and (3) To the extent that debts enrolled in a service are renegotiated, settled, reduced or otherwise altered individually, the fee or consideration either: (A) Bears the same proportional relationship to the total fee for renegotiating, settling, reducing or otherwise altering the terms of the entire debt balance as the individual debt amount bears to the entire debt amount. The individual debt amount and the entire debt amount are those owed at the time the debt was enrolled in the service; or (B) Is a percentage of the amount saved as a result of the renegotiation, settlement, reduction or alteration. The percentage charged cannot change from one individual debt to another. The amount saved is the difference between the amount owed at the time the debt was enrolled in the service and the amount actually paid to satisfy the debt.
(1) The provider has renegotiated, settled, reduced or otherwise altered the terms of at least one (1) debt pursuant to a settlement agreement or other valid contractual agreement executed by the individual;
(2) The individual has made at least one (1) payment pursuant to that settlement agreement or other valid contractual agreement between the individual and the creditor or debt collector; and
(3) To the extent that debts enrolled in a service are renegotiated, settled, reduced or otherwise altered individually, the fee or consideration either: (A) Bears the same proportional relationship to the total fee for renegotiating, settling, reducing or otherwise altering the terms of the entire debt balance as the individual debt amount bears to the entire debt amount. The individual debt amount and the entire debt amount are those owed at the time the debt was enrolled in the service; or (B) Is a percentage of the amount saved as a result of the renegotiation, settlement, reduction or alteration. The percentage charged cannot change from one individual debt to another. The amount saved is the difference between the amount owed at the time the debt was enrolled in the service and the amount actually paid to satisfy the debt.
(A) Bears the same proportional relationship to the total fee for renegotiating, settling, reducing or otherwise altering the terms of the entire debt balance as the individual debt amount bears to the entire debt amount. The individual debt amount and the entire debt amount are those owed at the time the debt was enrolled in the service; or
(B) Is a percentage of the amount saved as a result of the renegotiation, settlement, reduction or alteration. The percentage charged cannot change from one individual debt to another. The amount saved is the difference between the amount owed at the time the debt was enrolled in the service and the amount actually paid to satisfy the debt.
(g) Subject to adjustment of the dollar amount pursuant to § 47-18-5532(f) , if a payment to a provider by an individual under this part is dishonored, a provider may impose a reasonable charge on the individual, not to exceed the lesser of twenty-five dollars ($25.00) and the amount permitted by law other than this part.
Amended by 2014 Tenn. Acts, ch. 639,s 2, eff. 7/1/2014.
Amended by 2014 Tenn. Acts, ch. 639,s 1, eff. 7/1/2014.
Acts 2009, ch. 469, § 1.
Tenn. Code Ann. § 47-25-1807 — TN Code / Title 47 / Chapter 25 / Section 47-25-1807
Right to audit
Status: in_force

The supplier has the right to adjust for errors discovered during audit and, if necessary, to adjust claims paid in error. Acts 2001, ch. 425, § 1.
The supplier has the right to adjust for errors discovered during audit and, if necessary, to adjust claims paid in error.
Acts 2001, ch. 425, § 1.
Tenn. Code Ann. § 47-7-603 — TN Code / Title 47 / Chapter 7 / Section 47-7-603
Conflicting claims - Interpleader
Status: in_force

If more than one (1) person claims title to or possession of the goods, the bailee is excused from delivery until the bailee has a reasonable time to ascertain the validity of the adverse claims or to commence an action for interpleader. The bailee may assert an interpleader either in defending an action for nondelivery of the goods or by original action. Acts 2008, ch. 814, § 1.
If more than one (1) person claims title to or possession of the goods, the bailee is excused from delivery until the bailee has a reasonable time to ascertain the validity of the adverse claims or to commence an action for interpleader. The bailee may assert an interpleader either in defending an action for nondelivery of the goods or by original action.
Acts 2008, ch. 814, § 1.
Tenn. Code Ann. § 47-2a-303 — TN Code / Title 47 / Chapter 2a / Section 47-2a-303
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 3 - EFFECT OF LEASE CONTRACT (§§ 47-2A-301 — 47-2A-311) Section 47-2A-303 - Alienability of party's interest under lease contract or of lessor's residual interest in goods - Delegation of performance - Transfer of rights
Status: in_force

(1) As used in this section, "creation of a security interest" includes the sale of a lease contract that is subject to chapter 9, Secured Transactions, by reason of § 47-9-109(a)(3) . (2) Except as provided in subsection (3) and § 47-9-407 , a provision in a lease agreement which (i) prohibits the voluntary or involuntary transfer, including a transfer by sale, sublease, creation or enforcement of a security interest, or attachment, levy, or other judicial process, of an interest of a party under the lease contract or of the lessor's residual interest in the goods, or (ii) makes such a transfer an event of default, gives rise to the rights and remedies provided in subsection (4), but a transfer that is prohibited or is an event of default under the lease agreement is otherwise effective. (3) A provision in a lease agreement which (i) prohibits a transfer of a right to damages for default with respect to the whole lease contract or of a right to payment arising out of the transferor's due performance of the transferor's entire obligation, or (ii) makes such a transfer an event of default, is not enforceable, and such a transfer is not a transfer that materially impairs the prospect of obtaining return performance by, materially changes the duty of, or materially increases the burden or risk imposed on, the other party to the lease contract within the purview of subsection (4). (4) Subject to subsection (3) and § 47-9-407 : (a) if a transfer is made which is made an event of default under a lease agreement, the party to the lease contract not making the transfer, unless that party waives the default or otherwise agrees, has the rights and remedies described in § 47-2A-501(2) ; (b) if paragraph (a) is not applicable and if a transfer is made that (i) is prohibited under a lease agreement or (ii) materially impairs the prospect of obtaining return performance by, materially changes the duty of, or materially increases the burden or risk imposed on, the other party to the lease contract, unless the party not making the transfer agrees at any time to the transfer in the lease contract or otherwise, then, except as limited by contract, (i) the transferor is liable to the party not making the transfer for damages caused by the transfer to the extent that the damages could not reasonably be prevented by the party not making the transfer and (ii) a court having jurisdiction may grant other appropriate relief, including cancellation of the lease contract or an injunction against the transfer. (5) A transfer of "the lease" or of "all my rights under the lease", or a transfer in similar general terms, is a transfer of rights and, unless the language or the circumstances, as in a transfer for security, indicate the contrary, the transfer is a delegation of duties by the transferor to the transferee. Acceptance by the transferee constitutes a promise by the transferee to perform those duties. The promise is enforceable by either the transferor or the other party to the lease contract. (6) Unless otherwise agreed by the lessor and the lessee, a delegation of performance does not relieve the transferor as against the other party of any duty to perform or of any liability for default. (7) In a consumer lease, to prohibit the transfer of an interest of a party under the lease contract or to make a transfer an event of default, the language must be specific, by a writing, and conspicuous. Acts 1993, ch. 398, § 1; 2000, ch. 846, § 10.
(1) As used in this section, "creation of a security interest" includes the sale of a lease contract that is subject to chapter 9, Secured Transactions, by reason of § 47-9-109(a)(3) .
(2) Except as provided in subsection (3) and § 47-9-407 , a provision in a lease agreement which (i) prohibits the voluntary or involuntary transfer, including a transfer by sale, sublease, creation or enforcement of a security interest, or attachment, levy, or other judicial process, of an interest of a party under the lease contract or of the lessor's residual interest in the goods, or (ii) makes such a transfer an event of default, gives rise to the rights and remedies provided in subsection (4), but a transfer that is prohibited or is an event of default under the lease agreement is otherwise effective.
(3) A provision in a lease agreement which (i) prohibits a transfer of a right to damages for default with respect to the whole lease contract or of a right to payment arising out of the transferor's due performance of the transferor's entire obligation, or (ii) makes such a transfer an event of default, is not enforceable, and such a transfer is not a transfer that materially impairs the prospect of obtaining return performance by, materially changes the duty of, or materially increases the burden or risk imposed on, the other party to the lease contract within the purview of subsection (4).
(4) Subject to subsection (3) and § 47-9-407 : (a) if a transfer is made which is made an event of default under a lease agreement, the party to the lease contract not making the transfer, unless that party waives the default or otherwise agrees, has the rights and remedies described in § 47-2A-501(2) ; (b) if paragraph (a) is not applicable and if a transfer is made that (i) is prohibited under a lease agreement or (ii) materially impairs the prospect of obtaining return performance by, materially changes the duty of, or materially increases the burden or risk imposed on, the other party to the lease contract, unless the party not making the transfer agrees at any time to the transfer in the lease contract or otherwise, then, except as limited by contract, (i) the transferor is liable to the party not making the transfer for damages caused by the transfer to the extent that the damages could not reasonably be prevented by the party not making the transfer and (ii) a court having jurisdiction may grant other appropriate relief, including cancellation of the lease contract or an injunction against the transfer.
(a) if a transfer is made which is made an event of default under a lease agreement, the party to the lease contract not making the transfer, unless that party waives the default or otherwise agrees, has the rights and remedies described in § 47-2A-501(2) ;
(b) if paragraph (a) is not applicable and if a transfer is made that (i) is prohibited under a lease agreement or (ii) materially impairs the prospect of obtaining return performance by, materially changes the duty of, or materially increases the burden or risk imposed on, the other party to the lease contract, unless the party not making the transfer agrees at any time to the transfer in the lease contract or otherwise, then, except as limited by contract, (i) the transferor is liable to the party not making the transfer for damages caused by the transfer to the extent that the damages could not reasonably be prevented by the party not making the transfer and (ii) a court having jurisdiction may grant other appropriate relief, including cancellation of the lease contract or an injunction against the transfer.
(5) A transfer of "the lease" or of "all my rights under the lease", or a transfer in similar general terms, is a transfer of rights and, unless the language or the circumstances, as in a transfer for security, indicate the contrary, the transfer is a delegation of duties by the transferor to the transferee. Acceptance by the transferee constitutes a promise by the transferee to perform those duties. The promise is enforceable by either the transferor or the other party to the lease contract.
(6) Unless otherwise agreed by the lessor and the lessee, a delegation of performance does not relieve the transferor as against the other party of any duty to perform or of any liability for default.
(7) In a consumer lease, to prohibit the transfer of an interest of a party under the lease contract or to make a transfer an event of default, the language must be specific, by a writing, and conspicuous.
Acts 1993, ch. 398, § 1; 2000, ch. 846, § 10.