Tennessee Statutes
§ 45-4-609 — Lien on stock and dividends for debts - Cancellation and liquidation upon withdrawal
Tennessee·Title 45
(a)A credit union shall have a lien on the shares of any member and on the dividends payable thereon for and to the extent of any loan made to the member and of any dues and fines payable by the member.
(b)A credit union may, upon the resignation or expulsion of a member, cancel the shares of the member and apply the withdrawal value of the shares toward the liquidation of the member's indebtedness.
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Tennessee § 45-4-609 (Lien on stock and dividends for debts - Cancellation and liquidation upon withdrawal) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
In re Estate of David Larry Letsinger
(Court of Appeals of Tennessee, 2016)
Legislative History
Acts 1923, ch. 68, § 15; Shan. Supp., § 2198a22; Code 1932, § 3849; C. Supp. 1950, § 3849; T.C.A. (orig. ed.), § 45-1822.
Nearby Sections
15
§ 45-1-101
Short title§ 45-1-103
General definitions§ 45-1-104
Department to execute laws§ 45-1-106
Salary of commissioner§ 45-1-107
Powers and duties of commissioner§ 45-1-109
Oaths of office§ 45-1-111
Limitation of personal liability§ 45-1-112
Official seal§ 45-1-113
Office facilities§ 45-1-116
Examiners - Employment and duties