Tennessee § 56-4-401 - “Production credit association” defined — Associations subject to tax.
Full text of Tennessee Tennessee Code Annotated § 56-4-401 — “Production credit association” defined — Associations subject to tax., with citation guidance and answers to common questions.
§ 56-4-401. “Production credit association” defined — Associations subject to tax.
As used in this part, unless the context otherwise requires, “production credit association” means a corporation organized and chartered pursuant to § 20 of the Farm Credit Act of 1933, Act June 16, 1933, ch. 98, § 20, 48 Stat. 259, engaged in business in this state, and not exempt by virtue of the laws of the United States from taxation by this state. Acts 1951, ch. 45, § 1 (Williams, § 1248.179); modified; T.C.A. (orig. ed.), §§ 67-4501, 67-4-1301. Code Commission Notes. For transfer of collection of taxes imposed upon production credit associations from the department of commerce and insurance to the department of revenue, see Executive Order No. 64 (March 26, 1985). Compiler's Notes. The Farm Credit Act of 1933, referred to in this section, was compiled in 12 U.S.C. § 1131 et seq., but has been repealed by several subsequent acts of Congress. Cross-References. Exemption from excise tax, § 67-4-2008 . Exemption from franchise tax, § 67-4-2108 . Law Reviews. State and Local Taxation of Financial Institutions: An Opportunity for Reform (C. James Judson & Susan G. Duffy), 39 Vand. L. Rev. 1057 (1986).
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 56-4-401
What does Tennessee Code Annotated § 56-4-401 cover?
Section 56-4-401 ("“Production credit association” defined — Associations subject to tax.") 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 § 56-4-401?
A common citation format is "Tennessee Code Annotated § 56-4-401" (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 § 56-4-401 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.