Tennessee § 62-20-116 - Actions required at expiration or revocation of license.
Full text of Tennessee Tennessee Code Annotated § 62-20-116 — Actions required at expiration or revocation of license., with citation guidance and answers to common questions.
§ 62-20-116. Actions required at expiration or revocation of license.
Upon the expiration or revocation of any license held under this chapter, the licensee shall: Within ninety (90) days, return or assign all uncollected accounts to the licensee's clients or their order; Not charge or receive any fee or compensation for the return or assignment of uncollected accounts; Not charge or receive any fee or compensation on any moneys received or collected subsequent to the expiration, suspension or revocation; and Within ninety (90) days, remit all moneys to the owners of the accounts on which the moneys were paid. This section shall not be construed to: Prohibit a bulk sale of the business, assets and good will of a collection service whose license becomes invalid; or Deprive a licensee of the privilege of late renewal granted by § 62-20-112. Acts 1981, ch. 170, § 16; 1988, ch. 823, § 29; 2013, ch. 180, § 9.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 62-20-116
What does Tennessee Code Annotated § 62-20-116 cover?
Section 62-20-116 ("Actions required at expiration or revocation of license.") 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 § 62-20-116?
A common citation format is "Tennessee Code Annotated § 62-20-116" (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 § 62-20-116 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.