Tennessee § 47-15-103 - Determination and publication of rates — Reliance thereon.
Full text of Tennessee Tennessee Code Annotated § 47-15-103 — Determination and publication of rates — Reliance thereon., with citation guidance and answers to common questions.
§ 47-15-103. Determination and publication of rates — Reliance thereon.
The rate set in § 47-15-102 shall be determined by the commissioner of financial institutions on or before the twentieth day of each month and shall be in effect during the following calendar month. The commissioner, upon making such determination, shall promptly make an official announcement of such rate and shall publish such announcement in such manner as the commissioner may deem appropriate, thereafter causing the same to be published in the Tennessee Administrative Register. Such rate shall remain in effect until the next official announcement and publication. The determination by the commissioner as provided herein shall not be deemed a “rule” within the meaning of § 4-5-102, and such action of the commissioner shall be exempt from the Uniform Administrative Procedures Act, compiled in title 4, chapter 5. In contracting for interest pursuant to § 47-15-102, any person shall be entitled to rely upon the formula rate thus announced or published by the commissioner. Acts 1979, ch. 208, § 3; T.C.A., § 47-14-203 ; Acts 1987, ch. 291, § 2. Compiler's Notes. Former §§ 47-15-101 — 47-15-116 , concerning miscellaneous provisions, were transferred to §§ 47-50-101 — 47-50-112 in 1984. Textbooks. Gibson's Suits in Chancery (7th ed., Inman), § 100. Tennessee Jurisprudence, 7 Tenn. Juris., Contracts, § 32. Cited: Terry v. Cmty. Bank of N. Va., 255 F. Supp. 2d 811, 2003 U.S. Dist. LEXIS 4743 (W.D. Tenn. 2003); Terry v. Cmty. Bank of N. Va., 255 F. Supp. 2d 817, 2003 U.S. Dist. LEXIS 8178 (W.D. Tenn. 2003).
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 47-15-103
What does Tennessee Code Annotated § 47-15-103 cover?
Section 47-15-103 ("Determination and publication of rates — Reliance thereon.") 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 § 47-15-103?
A common citation format is "Tennessee Code Annotated § 47-15-103" (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 § 47-15-103 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.