Tennessee § 2-10-304 - Loans.
Full text of Tennessee Tennessee Code Annotated § 2-10-304 — Loans., with citation guidance and answers to common questions.
§ 2-10-304. Loans.
The limitations contained in this part do not apply to any loan of money by a financial institution as defined in § 45-10-102 that: Is made in accordance with applicable law and in the ordinary course of business; Is made on a basis reasonably designed to assure repayment, evidenced by a written instrument, and subject to a payment due date or amortization schedule; and Bears the usual and customary interest rate of the lending institution. An endorsement or guaranty of a loan made pursuant to subsection (a) shall be considered a contribution in the amount of the endorsement or guaranty and shall be subject to the limitations contained in this part. Where the written instrument does not specify the portion of the loan for which the endorser or guarantor is liable, each endorser or guarantor shall be considered to have made a contribution in that proportion of the unpaid balance that each endorser or guarantor bears to the total number of endorsers or guarantors. Acts 1995, ch. 531, § 1. Attorney General Opinions. Legislator's use of personal or borrowed funds in campaign during legislative session, OAG 98-062 (3/9/98).
Frequently Asked Questions About Tennessee § 2-10-304
What does Tennessee Code Annotated § 2-10-304 cover?
Section 2-10-304 ("Loans.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 2-10-304?
A common citation format is "Tennessee Code Annotated § 2-10-304" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 2-10-304 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.