Tennessee § 56-9-105 - Receivers — Restraining order and injunctive relief — Federal home loan bank.

§ 56-9-105. Receivers — Restraining order and injunctive relief — Federal home loan bank.

Any receiver appointed in a proceeding under this chapter may at any time apply for, and any court of general jurisdiction may grant, the restraining orders, preliminary and permanent injunctions, and other orders as may be deemed necessary and proper to prevent: The transaction of further business; The transfer of property; Interference with the receiver or with a proceeding under this chapter; Waste of the insurer's assets; Dissipation and transfer of bank accounts; The institution or further prosecution of any actions or proceedings; The obtaining of preferences, judgments, attachments, garnishments or liens against the insurer, its assets or its policyholders; The levying of execution against the insurer, its assets or its policyholders; The making of any sale or deed for nonpayment of taxes or assessments that would lessen the value of the assets of the insurer; The withholding from the receiver of books, accounts, documents or other records relating to the business of the insurer; or Any other threatened or contemplated action that might lessen the value of the insurer's assets or prejudice the rights of policyholders, creditors or shareholders, or the administration of any proceeding under this chapter. The receiver may apply to any court outside of this state for the relief described in subsection (a). Notwithstanding subsections (a) and (b) and any other provision of this title, a federal home loan bank shall not be stayed, enjoined, or prohibited from exercising or enforcing any right or cause of action regarding collateral pledged under a security agreement or under any pledge agreement, security agreement, collateral agreement, or other similar arrangement or credit enhancement relating to a security agreement to which the federal home loan bank is a party. Acts 1991, ch. 142, § 4; 2019, ch. 430, § 2. Compiler's Notes. Former chapter 9, §§ 56-9-101 — 56-9-132 (Acts 1969, ch. 279, §§ 1-30; 1973, ch. 63, § 1; 1978, ch. 540, § 1; T.C.A., §§ 56-1301 — 56-1331; Acts 1988, ch. 739, § 1), concerning rehabilitation and liquidation of insurance companies, was repealed by Acts 1991, ch. 142, § 4. For new law, see this chapter. Amendments. The 2019 amendment added (c). Effective Dates. Acts 2019, ch. 430, § 8. May 21, 2019.