SB1791 amends Tennessee law to protect superior interest holders in receivership proceedings.
SB1791 amends Tennessee Code Annotated, Title 29, to safeguard the rights of superior interest holders in receivership proceedings. It ensures that a receivership cannot interfere with the rights of a holder of an interest in receivership property if their interest is superior to that of the party initiating the receivership, unless the superior interest holder consents. The act also clarifies that intervening to determine the priority of a superior interest does not constitute consent to the receivership.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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