Tennessee § 45-15-116 Safekeeping of titled personal property or personal property certificates of title - Insurance coverage - Damaged property

Tennessee Statutes

§ 45-15-116 — Safekeeping of titled personal property or personal property certificates of title - Insurance coverage - Damaged property

Tennessee § 45-15-116

Title45

This text of Tennessee § 45-15-116 (Safekeeping of titled personal property or personal property certificates of title - Insurance coverage - Damaged property) 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. § 45-15-116 (2026).

Text

Every title pledge lender licensed under this chapter shall provide a safe place for the keeping of the pledged property. The title pledge lender shall have sufficient insurance coverage on the pledged property, in the event of loss or damage, for the benefit of the pledgor to pay the title pledge value of the pledged property as written on the title pledge or property pledge agreement; provided, that the personal property is in the physical possession of the title pledge lender. The insurance policy shall name the commissioner as an additional insured party for the protection and benefit of the pledgor. "Title pledge value," for the purposes of this section, means the amount of money loaned in consideration of the pledged goods as stated on the title pledge or property pledge agreement.

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Every title pledge lender licensed under this chapter shall provide a safe place for the keeping of the pledged property. The title pledge lender shall have sufficient insurance coverage on the pledged property, in the event of loss or damage, for the benefit of the pledgor to pay the title pledge value of the pledged property as written on the title pledge or property pledge agreement; provided, that the personal property is in the physical possession of the title pledge lender. The insurance policy shall name the commissioner as an additional insured party for the protection and benefit of the pledgor. "Title pledge value," for the purposes of this section, means the amount of money loaned in consideration of the pledged goods as stated on the title pledge or property pledge agreement.