Tennessee § 55-27-106 - Security interest in funds.
Full text of Tennessee Tennessee Code Annotated § 55-27-106 — Security interest in funds., with citation guidance and answers to common questions.
§ 55-27-106. Security interest in funds.
A party holding trust funds provided for under this chapter and chapter 24 of this title may not grant to any third party any security or other interest in the trust funds. Notwithstanding subsection (a), for any manufacturer which, as a result of restructuring or other means, ten percent (10%) or more of the outstanding common stock is or was at any time owned by an entity or agency of the United States government, subsection (a) shall only apply to trust funds owed by such manufacturer to a dealer on or within three hundred ninety-five (395) days prior to the filing by or against that manufacturer of a petition for relief under title 11 of the United States Code; provided, however, that nothing in this subsection (b) shall diminish any rights otherwise afforded by Tennessee common law or other applicable Tennessee authority that existed prior to the enactment of this subsection (b) or any amendment thereto. Acts 2009, ch. 322, § 2; 2011, ch. 294, § 1.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 55-27-106
What does Tennessee Code Annotated § 55-27-106 cover?
Section 55-27-106 ("Security interest in funds.") 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 § 55-27-106?
A common citation format is "Tennessee Code Annotated § 55-27-106" (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 § 55-27-106 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.