Tennessee § 45-3-403 - Right to act to avoid loss.
Full text of Tennessee Tennessee Code Annotated § 45-3-403 — Right to act to avoid loss., with citation guidance and answers to common questions.
§ 45-3-403. Right to act to avoid loss.
Nothing in this chapter or in the laws of this state shall be construed as denying to an association the right to invest its funds, operate its business, manage or deal in property, or take any other action over whatever period of time as may reasonably be necessary to avoid loss on a loan or investment theretofore made or an obligation created in good faith. Acts 1978, ch. 708, § 2.32; T.C.A., § 45-1432.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 45-3-403
What does Tennessee Code Annotated § 45-3-403 cover?
Section 45-3-403 ("Right to act to avoid loss.") 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 § 45-3-403?
A common citation format is "Tennessee Code Annotated § 45-3-403" (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 § 45-3-403 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.