Tennessee § 56-9-329 - Valuation of security held by secured creditors.
Full text of Tennessee Tennessee Code Annotated § 56-9-329 — Valuation of security held by secured creditors., with citation guidance and answers to common questions.
§ 56-9-329. Valuation of security held by secured creditors.
The value of any security held by a secured creditor shall be determined in one (1) of the following ways, as the court may direct: By converting the same into money according to the terms of the agreement pursuant to which the security was delivered to the creditors; or By agreement, arbitration, compromise or litigation between the creditor and the liquidator. The determination shall be under the supervision and control of the court with due regard for the recommendation of the liquidator. The amount so determined shall be credited upon the secured claim, and any deficiency shall be treated as an unsecured claim. If the claimant surrenders the claimant's security to the liquidator, the entire claim shall be allowed as if unsecured. Acts 1991, ch. 142, § 4.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 56-9-329
What does Tennessee Code Annotated § 56-9-329 cover?
Section 56-9-329 ("Valuation of security held by secured creditors.") 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 § 56-9-329?
A common citation format is "Tennessee Code Annotated § 56-9-329" (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 § 56-9-329 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.