Tennessee § 7-36-116 - Rights and remedies of bondholders.
Full text of Tennessee Tennessee Code Annotated § 7-36-116 — Rights and remedies of bondholders., with citation guidance and answers to common questions.
§ 7-36-116. Rights and remedies of bondholders.
In addition to all other rights and remedies, any holders of bonds of the authority, including a trustee for bondholders, shall have the right: By mandamus or other suit, action, or proceeding at law or in equity, to enforce the bondholder's rights against the authority and the board of the authority, including the right to require the authority and such board to fix and collect rates and charges adequate to carry out any agreement as to, or pledge of, the revenues produced by such rates or charges, and to require the authority and such board to carry out any other covenant and agreement with such bondholders and to perform their duties under this chapter; By action or suit in equity, to enjoin any acts which may be unlawful or a violation of the rights of such holder of bonds; By suit, action, or proceeding in the chancery court sitting in the county in which the authority's principal office is located, to obtain an appointment of a receiver of any system of the authority or any part thereof. If such receiver be appointed, such receiver may enter and take possession of such system or part thereof and operate and maintain same, and collect and receive all fees, rents, tolls, or other charges arising therefrom in the same manner as the authority itself might do and shall dispose of such money in a separate account and apply the same in accordance with the obligations of the authority as the court shall direct; and By suit, action, or proceeding in the chancery court sitting in the county in which the authority's principal office is located, to require the board of the authority to account as if it were the trustee of an express trust. Acts 2016, ch. 995, § 1. Code Commission Notes. Acts 2016, ch. 995, § 1 enacted a new chapter 41, §§ 7-41-101 — 7-41-132 , but the chapter has been redesignated as chapter 36, §§ 7-36-101 — 7-36-132 by authority of the Code Commission. Effective Dates. Acts 2016, ch. 995, § 3. April 27, 2016.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 7-36-116
What does Tennessee Code Annotated § 7-36-116 cover?
Section 7-36-116 ("Rights and remedies of bondholders.") 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 § 7-36-116?
A common citation format is "Tennessee Code Annotated § 7-36-116" (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 § 7-36-116 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.