SB0544 amends Tennessee Code to change procedures for Uniform Commercial Code financing statement filings.
SB0544 modifies Tennessee Code Annotated, Title 47, concerning Uniform Commercial Code financing statement filings. It mandates that within three business days of receiving a petition for review and a cost bond, the filing office must forward the petition, the financing statement, and a notarized affidavit to the administrative procedures division of the secretary of state's office, along with a request for a hearing. It also requires the secured party to provide a copy of any administrative law judge determination to the filing office.
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