Tennessee § 41-8-112 Repayment of loans - County's failure to remit

Tennessee Statutes

§ 41-8-112 — Repayment of loans - County's failure to remit

Tennessee § 41-8-112

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This text of Tennessee § 41-8-112 (Repayment of loans - County's failure to remit) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 41-8-112 (2026).

Text

(a)The county shall pledge its full faith and credit for the repayment of a loan pursuant to this chapter.

(b)In the event any county having entered into a loan contract pursuant to this chapter fails to remit funds in accordance with any amortization schedule established for the loan, the commissioner of finance and administration shall deliver by certified mail a written notice of the failure to the county. In the event the county fails to remit the amount set forth in the notice within sixty (60) days of the receipt of the notice, the commissioner of finance and administration may, without further authorization, withhold that sum or part of that sum from any state-shared taxes that are otherwise apportioned to the county.

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(a) The county shall pledge its full faith and credit for the repayment of a loan pursuant to this chapter. (b) In the event any county having entered into a loan contract pursuant to this chapter fails to remit funds in accordance with any amortization schedule established for the loan, the commissioner of finance and administration shall deliver by certified mail a written notice of the failure to the county. In the event the county fails to remit the amount set forth in the notice within sixty (60) days of the receipt of the notice, the commissioner of finance and administration may, without further authorization, withhold that sum or part of that sum from any state-shared taxes that are otherwise apportioned to the county.