Tennessee § 45-4-609 - Lien on stock and dividends for debts — Cancellation and liquidation upon withdrawal.
Full text of Tennessee Tennessee Code Annotated § 45-4-609 — Lien on stock and dividends for debts — Cancellation and liquidation upon withdrawal., with citation guidance and answers to common questions.
§ 45-4-609. Lien on stock and dividends for debts — Cancellation and liquidation upon withdrawal.
A credit union shall have a lien on the shares of any member and on the dividends payable thereon for and to the extent of any loan made to the member and of any dues and fines payable by the member. A credit union may, upon the resignation or expulsion of a member, cancel the shares of the member and apply the withdrawal value of the shares toward the liquidation of the member's indebtedness. Acts 1923, ch. 68, § 15; Shan. Supp., § 2198a22; Code 1932, § 3849; C. Supp. 1950, § 3849; T.C.A. (orig. ed.), § 45-1822.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 45-4-609
What does Tennessee Code Annotated § 45-4-609 cover?
Section 45-4-609 ("Lien on stock and dividends for debts — Cancellation and liquidation upon withdrawal.") 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 § 45-4-609?
A common citation format is "Tennessee Code Annotated § 45-4-609" (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 § 45-4-609 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.