Tennessee § 45-8-220 Show cause order - Appointment of receiver

Tennessee Statutes

§ 45-8-220 — Show cause order - Appointment of receiver

Tennessee § 45-8-220

Title45

This text of Tennessee § 45-8-220 (Show cause order - Appointment of receiver) 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. § 45-8-220 (2026).

Text

(a)If the commissioner finds that a licensee is insolvent, or the licensee is transacting business without authority or in violation of this part or any other law, or it is contrary to the purposes of this part for the licensee to continue business, the commissioner shall communicate the facts to the attorney general and reporter who shall file in the chancery court, in any county where the licensee is doing business, a complaint setting forth the facts and applying for an order requiring the licensee to show cause why its business should not be closed.

(b)In a proper case made, the chancery court shall have the power to appoint a receiver to take charge of, settle and wind up the affairs of a licensee under the direction of the court, to enjoin the licensee from doing business, or to ma

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(a) If the commissioner finds that a licensee is insolvent, or the licensee is transacting business without authority or in violation of this part or any other law, or it is contrary to the purposes of this part for the licensee to continue business, the commissioner shall communicate the facts to the attorney general and reporter who shall file in the chancery court, in any county where the licensee is doing business, a complaint setting forth the facts and applying for an order requiring the licensee to show cause why its business should not be closed. (b) In a proper case made, the chancery court shall have the power to appoint a receiver to take charge of, settle and wind up the affairs of a licensee under the direction of the court, to enjoin the licensee from doing business, or to make other orders or decrees as the circumstances warrant and the court deems proper.