Tennessee § 12-10-113 - Tax exemption — Status under securities law.
Full text of Tennessee Tennessee Code Annotated § 12-10-113 — Tax exemption — Status under securities law., with citation guidance and answers to common questions.
§ 12-10-113. Tax exemption — Status under securities law.
The authority is hereby declared to be performing a public function in behalf of the municipality with respect to which it is organized, and to be a public instrumentality of such municipality. Accordingly, the authority and all properties at any time owned by it, and the income therefrom, and all bonds issued by it, and the income therefrom, shall be exempt from all taxation in this state. Also, for purposes of the Securities Law of 1955, formerly compiled in §§ 48-1601 — 48-1653 [repealed], and any amendment thereto or substitution therefor, bonds issued by the authority shall be deemed to be securities issued by a public instrumentality or a political subdivision of this state. Acts 1971, ch. 126, § 13; T.C.A., § 12-913. Compiler's Notes. The Securities Law of 1955, formerly compiled in §§ 48-1601 — 48-1653, was repealed by Acts 1980, ch. 866, § 27. The Tennessee Securities Act of 1980 is compiled in title 48, ch. 1, part 1.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 12-10-113
What does Tennessee Code Annotated § 12-10-113 cover?
Section 12-10-113 ("Tax exemption — Status under securities law.") 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 § 12-10-113?
A common citation format is "Tennessee Code Annotated § 12-10-113" (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 § 12-10-113 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.