Tennessee Statutes
§ 45-4-609 — Lien on stock and dividends for debts - Cancellation and liquidation upon withdrawal
Tennessee § 45-4-609
JurisdictionTennessee
Title45
This text of Tennessee § 45-4-609 (Lien on stock and dividends for debts - Cancellation and liquidation upon withdrawal) 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. § 45-4-609 (2026).
Text
(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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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 dutiesCite This Page — Counsel Stack
Bluebook (online)
Tennessee § 45-4-609, Counsel Stack Legal Research, https://law.counselstack.com/statute/tn/45-4-609.