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Tennessee Code, Vol. 08B PDF

872 Pages·2001·98.7 MB·English
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s et n eesePu e e n ew Oe E ewegs areata S a c SSa Sssenat e S aTetah:a ds se b FN. n ee at a EOaac sEee :p tiey TE ie a rag Nene sSe ecee c7 y Me PIE Ort e« SF pecisGsit a = 75 cotapS aa gos, eaoone EES gene S Pactne as ree ra seme a : ae See = * TS ; SRE : ods yin. Z eTa ls at Nip wget z epeofh aechinsl : cine ALN is! a wrnWearinrt ermaaeh soo aan BS Bie So ty ee = sia ees ° . eeA ahe nel tes TST tes ar ea sete Es AsS eA te reac tatSeeen er ‘ ee pss e SE ‘ : = asian sea ere Volume 8B TITLE 47 Chapters 1-8 UNIFORM COMMERCIAL CODE Chapter Page NS: General: Provisions 70) ieee oe Ahc o aie ap mo ame ar ne ae Las 2 2 SALES) Sle oil uP sees ARMA ee) aa ODA SUV ea Tes), CoM Gait tea Pee a 33 BAI TINBASES Qe Ola NU ke URI ie uo. ee ta)e e Ru SUG a wep rea can 236 a Negotiable: Instruments.) ae sien) een ale ene ars Cabs ilac and ames 321 4. Bank Déposits and Oollections oi: ye). va eee ae ey ae eae ete 480 4A Hundselransters Ws) Meee yeM es gt ecta e koc li aie ee ea ee a ea 544 a etters, of Grenit tty Ques | aru ella WiBiael er ete tetM MC wean earl aitT ents can 603 6. Bulk Transfers ti es Ue ti Oleh aes AOC Le am kam tc veer ee 632 7. Warehouse Receipts, of Lading and Other Documents of 1i n 4 (aA MD IGN Re Tree Lian CMeahenyn | UMM E RE Mate nA LE 632 8. Investinent Securities: "sue er aes Gs eivio e , egen ve 681 Ay hid Whe? “i via aah DerO Lrtae et tehs a y? e, Ata Mate W|a fnl e Ai staya yy ne i aa y eh Pah a re exten a’ j 4 ny, m7 vhs 1 14j ‘ WAY i z ~~ < Tihs Pat +oi i,r e} ~L ie if ; } 7 ey “ti y.ii t ieu; te ; \ ; RUN ae Lp teat ORS LS The Abe ae A We ; ; Ta, j UE 'i 5 1 i F xé ta Y,e ' Aeea\ ? nsvei |e i y ; eri ee y} aaf , ‘ A , \ ; bras y “ ff , Mas ) ¥ nee i« fa e M. e a 1 : . t ' i ve ; . yp Uaby ' ; : 2 MI " i i j ' ay, Mh Mee Wh d ( (4 ae her i iF i rh ~~ ; ( Dh } 7 7} i ' , , i ' r s i a AA A o 4 bb ih yan ‘ i v : r eH) H i % “ph t sab fe i (hat [ by, i? ( mi inh ey if t 4 AAA an 1 i BA Ph is : he : 7 j Vai ; y ' 3 Or 1b) Ca ee ot Rye! eae aa h 9G th ines ; - 5 ; fh ry i i ; 2 ryisy Li ay a ope ‘ vig { wrt) L i 4 | a i ; « ’ . 1 ‘ + OT y + 1 : . k Wen 4) ; a ! rn } v aly é “ q \ i oe ay i, * : ’ J ’ hil : i } ! ~ i 1 Fal % Pn are a , oa Pe ae Te Sa \ Hy i a4 ) ; ita.A dW,ie :M eO ser}t ia y iiAys { ho Ws AAq D i 4 vi ; a c*i tes A WU\ %) : , yi it } Pp 5 j i araP ALaO iso h ee ‘ ) ‘i i yeHy : 7."ee i GG pet.R's ryt ay Hasrtay waitkea eot e 7 é rp ary q i = ieW are we bY 4 La ° / \ i ah \ : i Laas ‘ , ; in Oe ae ‘ . iy AAAS hh tes Nhe Ne ar, Rice pt ’ - ewer | ‘? Fi ae a a Pe Ne ary } ; é R Si ‘ a, a RO OESAT cae oh i, mae al be baby! ite | ‘y Baroy ite P oat e he i 5)1 fi eHye 4 ‘Ti a¢ i‘. Ya rat i RemO e R; A 4 ey ( } a r auihasitt ; OTi a ASLae fi A f -, } Raa i : aN 4a q i,ea ) . i 5 ae Sys aa Fbfre : eePat t7 AAP 7 i BR : a n4 h; Mea \l ey | h‘ e a 7 te eA vLee a as : ‘ i ; ‘ 7 Loews hear; jF 4 y tii t ity i' c , ; NJy y WaLae av att i 5a ntl a Viin a) ae wea? yh al ce ; ; ‘ MANDA Y RAENie r: eSag l Ni‘ d I +s) s fiaaN h lagA E av A ’ Df : Maryta: e } oNi a i ts ' wry F ?4 ‘ ie Bat bs ih 4H 9} "I i7 : iin e mp a a Tennessee Code Annotated Volume 8B 2001 Replacement Updated through the 2001 Session of the General Assembly THE OFFICIAL TENNESSEE CODE Prepared Under the Supervision of the Tennessee Code Commission FRANK F’. Drowota, ITI, Chair ELLEN C. Tews, Executive Secretary JANICE M. HoLpER SuSAN SHORT JONES @ Pau.L G. SUMMERS LexisNexis? LexisNEXIS AND THE KNOWLEDGE BURST LOGO ARE REGISTERED TRADEMARKS, AND MICHIE IS A TRADEMARK OF REED ELSEVIER PROPERTIES INC., USED UNDER LICENSE. MATTHEW BENDER IS A REGISTERED TRADEMARK OF Matruew Benpver Propertiss Inc. Copyricut© 1955, 1964, 1980, 1992, 1996, 2001 BY Tue STATE OF TENNESSEE All rights reserved. 48281-12 ISBN 0-327-15951-0 (Pub.48205) CERTIFICATE OF TENNESSEE CODE COMMISSION I, Ellen C. Tewes, Executive Secretary of the Tennessee Code Commission, acting by authority of the Commission and pursuant to Tennessee Code Annotated, Section 1-1-110, hereby certify that the Tennessee Code Commission has approved the manuscript of the Tennessee Code as. contained in this Replacement Volume 8A; that the text of each section. of the statutes of Tennessee printed or appearing in this Replacement Volume has been compared with the original section appearing in the published copies of the Public Acts; and, with the exception of changes permitted by Tennessee Code Annotated, Section 1-1-108, and with the exception of changes made necessary due to repeal by implication, express repeal and amendments by implication, the Code sections appearing in this Replacement Volume as codification of the Public Acts of 1955, 1957, 1959, 1961, 1963, 1965, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1974, 1975, 1976, 1977, 1978, 1979, 1980, 1981, 1982, 1983, 2984, 1985, 1986, 1987, 1988, 1989, 1990, 1991, 1992, 1993, 1994, 1995, 1996, 1997, 1998, 1999, 2000 and 2001 are true and correct copies of such sections as codified by Chapter 6 of the Public Acts of 1955; Chapter 1 of the Public Acts of 1957, of the Public Acts of 1959, of the Public Acts of 1961, of the Public Acts of 1963, of the Public Acts of 1965, of the Public Acts of 1967, of the Public Acts of 1969; Chapter 354 of the Public Acts of 1970; Chapter 1 of the Public Acts of 1971; Chapter 441 of the Public Acts of 1972; Chapter 1 of the Public Acts of 1973; Chapter 414 of the Public Acts of 1974; Chapter 1 of the Public Acts of 1975; Chapter 382 of the Public Acts of 1976; Chapter 1 of the Public Acts of 1977; Chapter 496 of the Public Acts of 1978; Chapter 1 of the Public Acts of 1979; Chapter 444 of the Public Acts of 1980; Chapter 1 of the Public Acts of 1981; Chapter 543 of the Public Acts of 1982; Chapter 1 of the Public Acts of 1983; Chapter 483 of the Public Acts of 1984; Chapter 2 of the Public Acts of 1985; Chapter 523 of the Public Acts of 1986; Chapter 786 of the Public Acts of 1986; Chapter 4 of the Public Acts of 1987; Chapter 458 of the Public Acts of 1988; Chapter 5 of the Public Acts of 1989; Chapter 668 of the Public Acts of 1990; Chapter 28 of the Public Acts of 1991; Chapter 528 of the Public Acts of 1992; Chapter 1 of the Public Acts of 1993; Chapter 543 of the Public Acts of 1994; Chapter 1 of the Public Acts of 1995; Chapter 554 of the Public Acts of 1996; Chapter 1 of the Public Acts of 1997; Chapter 574 of the Public Acts of 1998; Chapter 1 of the Public Acts of 1999; Chapter 574 of the Public Acts of 2000; and Chapter 52 of the Public Acts of 2001. IN WITNESS WHEREOF, I have hereunto set my hand and seal of the Tennessee Code Commission, this 7th day of September, 2001. Sy he 4 FAAS | Executive Secretary (ier Tennessee Code Commission STATE OF TENNESSEE DEPARTMENT OF STATE I, Riley C. Darnell, Secretary of State of the State of Tennessee, do hereby certify that true and correct copies of the following acts, Chapter 6 of the Public Acts of the 79th General Assembly; and Chapter 1 of the Public Acts of the 80th General Assembly, of the 81st General Assembly, of the 82nd General Assembly, of the 83rd General Assembly,of the 84th General Assembly, and of the 85th General Assembly; that Chapters 1 and 354 of the 86th General Assembly; Chapters 1 and 441 of the 87th General Assembly; Chapters 1 and 414 of the 88th General Assembly; Chapters 1 and 382 of the 89th General Assembly; Chapters 1 and 496 of the 90th General Assembly; Chapters 1 and 444 of the 9ist General Assembly; Chapters 1 and 543 of the 92nd General Assembly; Chapters 1 and 483 of the 93rd General Assembly; Chapters 2, 523, and 786 of the 94th General Assembly; Chapters 4 and 458 of the 95th General] Assembly; Chapters 5 and 668 of the 96th General Assembly; Chapters 28 and 528 of the 97th General Assembly; Chapters 1 and 543 of the 98th General Assembly; Chapters 1 and 554-.o0f the 99th General Assembly; Chapters 1 and 574 of the 100th General Assembly; Chapters 1 and 574 of the 101st General Assembly; and Chapter 52 of the 102nd General Assembly of the State of Tennessee, the originals of which are on file in the Office of the Secretary of State, were transmitted to the Tennessee cone Commission for publication in this Replacement Volume 8A. IN WITNESS WHEREOF, I have hereunto affixed my signature and the Great Seal of the State of Tennessee, at Nashville, on the 7th day of September, 2001. : Preface This Replacement Volume 8B of the official Tennessee Code supersedes the similar scope of its material in its former 1999 Volume 8A predecessor, and was made necessary by new and amendatory legislation. This volume was prepared by the editorial staff of the publisher with the assistance of William D. Hollings, Jr., Deputy Revisor for the Tennessee Code Commission. This volume contains Title 47, chapters 1-8, Uniform Commerical Code. Notes in this volume are to the following sources: South Western Reporter, 3d Series: through 38 S.W.3d 287. Supreme Court Reporter: through 121 S. Ct. 1507. Federal Reporter, 3d Series: through 244 F.3d 1381. Federal Supplement: through 132 F. Supp.2d 1386. Federal Rules Decisions: through 199 F.R.D. 395. Bankruptcy Reporter: through 260 Bankr. 57. | Opinions of the Attorney General: through OAG 00-069. Tennessee Bar Journal: through No. 37 Tenn. B.J. 36. Tennessee Law Review: through 67 Tenn. L. Rev. 1059. ‘University of Memphis Law Review: through 29 U. Mem. L. Rev. 526. Vanderbilt Law Review: through 54 Vand. L. Rev. 1847. Suggestions, comments, or questions about the Tennessee Code Annotated are always welcome. You may call us toll free at (800) 833-9844, email us at [email protected], or write Tennessee Editor, LexisNexis, P.O. Box 7587, Charlottesville, Virginia 22906-7587. Visit our Internet home page at www.lexisnexis.com for an online book- store, technical support, customer service, and other company information. October 2001 LExISNEXIS * : atln tyeiensthg t\ maNiit ! iW Ye a ewiinn gy oo pininih g: a| edna tGi pa:a uaeltgda, c‘a idyar Rae kes edA ahsipe ia aed Bua heigl pesmi ‘ia Ndu A} Narre erat SR rq 4 tnet ay ghhie i ya } “‘ be aiy Ba y paeyy edC. E ‘7 SA; a;Be e ; shnf a Ché O* A ) Bhii nayf etiyB y Al aW f Tt, M | ‘Ui ay e; lbeteo l sah mr af nt , ! A , ii— svat alya th aoer aca svat WOE wtagel: Awe , I, ncanne & A apc hh en ‘iiaed i atSn UdA| GeErDe e(eDO R)o itley wdaor’o dTi ntw Haoyl taMnitoa yw “aUWa.r S GBX OnawEis sAi‘o wArY6 : s0emg 2 3 Nisini eorg govencitt ediew no cxowabrqasinp it agg ’ i em sve gene hakdoohie ey ae ey ronirevatboer ian ow hee n ! Nof ein4 s f :i Lasonic ‘ni bind ontxmnr ina bin *im ,iyi t i ei Sy

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