Tennessee § 30-3-110 - Termination of receivership.

§ 30-3-110. Termination of receivership.

Upon the entry of any final finding and decree as provided in § 30-3-108 , the court shall proceed to wind up the receivership and terminate the proceedings: In the case of a finding under subsections (a) or (c) of § 30-3-108, that the absentee is dead: By satisfying all outstanding debts and charges of the receivership; and By then certifying the proceedings to the probate court; or In the case of a finding under § 30-3-108(b): By satisfying all outstanding debts and charges; By then deducting for the insurance fund provided in § 30-3-113, a sum equal to twenty-five percent (25%) of the total value of the property remaining, including amounts paid to the receivership estate from policies of insurance on the absentee's life; and By distributing the remaining property as provided in § 30-3-111; and In both cases by requiring the receiver's account and upon its approval discharging the receiver and the receiver's bondsmen and entering a final decree terminating the receivership. Acts 1941, ch. 102, § 8; C. Supp. 1950, § 8407.17; T.C.A. (orig. ed.), § 30-1810; Acts 2001, ch. 121, § 4. Compiler's Notes. Acts 2001, ch. 121, § 6 provided that the amendment by that act shall apply to any person whose death has not previously been adjudicated under title 30, chapter 3, part 1, regardless of the date of disappearance or absence. Textbooks. Pritchard on Wills and Administration of Estates (4th ed., Phillips and Robinson), §§ 925, 926.