Tennessee § 47-25-1907 - Title to repurchased inventory — Account adjustments.
Full text of Tennessee Tennessee Code Annotated § 47-25-1907 — Title to repurchased inventory — Account adjustments., with citation guidance and answers to common questions.
§ 47-25-1907. Title to repurchased inventory — Account adjustments.
Upon payment of the repurchase amount to the dealer, the title and right of possession to the repurchased inventory shall transfer to the supplier. Annually, at the end of each calendar year, after termination or cancellation, the dealer's reserve account for recourse, retail sale or lease contracts shall not be debited by a supplier or lender for any deficiency unless the dealer or the heirs of the dealer have been given at least seven (7) business days' notice by certified or registered United States mail, return receipt requested, of any proposed sale of the inventory financed and an opportunity to purchase the inventory. The former dealer or the heirs of the dealer shall be given quarterly status reports on any remaining outstanding recourse contracts. As the recourse contracts are reduced, any reserve account funds shall be returned to the dealer or the heirs of the dealer in direct proportion to the liabilities outstanding. Acts 2007, ch. 188, § 8. Cross-References. Certified mail in lieu of registered mail, § 1-3-111 .
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 47-25-1907
What does Tennessee Code Annotated § 47-25-1907 cover?
Section 47-25-1907 ("Title to repurchased inventory — Account adjustments.") 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 § 47-25-1907?
A common citation format is "Tennessee Code Annotated § 47-25-1907" (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 § 47-25-1907 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.