Tennessee § 45-4-604 - Priority of loans.
Full text of Tennessee Tennessee Code Annotated § 45-4-604 — Priority of loans., with citation guidance and answers to common questions.
§ 45-4-604. Priority of loans.
The funds of credit unions shall be used first for loans to members. Funds of credit unions not required for loans to members may be invested as otherwise provided by law. If available funds do not permit all loans to be made that have been approved by the credit committee or loan officer, preference shall be given to the smaller loans that have been approved. Acts 1923, ch. 68, § 17; Shan. Supp., § 2198a24; Code 1932, § 3851; Acts 1951, ch. 192, § 2; 1976, ch. 525, § 2; 1979, ch. 207, § 1; T.C.A. (orig. ed.), § 45-1820. Cross-References. Investment in obligations of federal housing administration, Federal National Mortgage Association and veterans' administration, § 35-3-120 . Law Reviews. Creditors' Rights and Security Transactions — 1962 Tennessee Survey (Forrest W. Lacey), 16 Vand. L. Rev. 706.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 45-4-604
What does Tennessee Code Annotated § 45-4-604 cover?
Section 45-4-604 ("Priority of 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 § 45-4-604?
A common citation format is "Tennessee Code Annotated § 45-4-604" (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 § 45-4-604 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.