Tennessee § 48-103-504 - Action against seller — Attorney's fees.
Full text of Tennessee Tennessee Code Annotated § 48-103-504 — Action against seller — Attorney's fees., with citation guidance and answers to common questions.
§ 48-103-504. Action against seller — Attorney's fees.
Any person who sells securities to a corporation or any subsidiary of such corporation in violation of this part shall be liable to the corporation for damages equal to two (2) times the amount by which the aggregate sum paid for the purchase of such shares exceeds the maximum amount otherwise permitted to be paid for such shares under this part; provided, that a civil action is instituted for the recovery thereof in a court of competent jurisdiction within two (2) years of such sale. Reasonable attorneys' fees may be granted, at the discretion of the court, to the prevailing party in any civil action instituted under this section if the court finds that the action was either instituted without good faith or that the sale of securities was undertaken with intentional or reckless indifference to the requirements of this part. Acts 1988, ch. 500, § 29; T.C.A., § 48-35-504 .
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 48-103-504
What does Tennessee Code Annotated § 48-103-504 cover?
Section 48-103-504 ("Action against seller — Attorney's fees.") 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 § 48-103-504?
A common citation format is "Tennessee Code Annotated § 48-103-504" (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 § 48-103-504 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.