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Tennessee Statutes, Title 35

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Tennessee/Statutes

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Title 35, Fiduciaries And Trust Estates

18 chapters · 371 sections in this title.

All chapters in Title 35371 Ch 15, Tennessee Uniform Trust Code121 Ch 6, Uniform Principal and Income Act37 Ch 7, Tennessee Uniform Transfers to Minor…26 Ch 3, Investment of Trust Funds24 Ch 50, Miscellaneous Provisions19 Ch 5, Judicial or Trust Sales18 Ch 8, Revised Uniform Fiduciary Access to …18 Ch 14, Uniform Prudent Investor Act14 Ch 12, Uniform Transfer on Death Security R…13 Ch 2, Uniform Fiduciaries Act12 Ch 11, Fundraising for Catastrophic Illnesses12 Ch 13, Charitable Beneficiaries12 Ch 16, Tennessee Investment Services Act of…12 Ch 10, Uniform Prudent Management of Instit…10

12 sections·Filtered byTitle 35✕Ch 16✕

Tenn. Code Ann. § 35-16-101 Short title
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This chapter shall be known and may be cited as the “Tennessee Investment Services Act of 2007.”
Tenn. Code Ann. § 35-16-102 Chapter definitions
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(1) As used in this chapter, unless the context otherwise requires:(1) “Claim” means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured;…
Tenn. Code Ann. § 35-16-103 Qualified affidavit requirements
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(1) A qualified affidavit shall state that:(1) The transferor has full right, title, and authority to transfer the assets to the trust;(2) The transfer of the assets to the trust will not render the transferor insolvent;(3) The transferor does not intend to defraud a creditor by …
Tenn. Code Ann. § 35-16-104 Restrictions on actions, remedies and claims
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(a) Notwithstanding any law to the contrary, no action of any kind, including, but not limited to, an action to enforce a judgment entered by a court or other body having adjudicative authority, shall be brought at law or in equity for an attachment or other provisional remedy ag…

Tenn. Code Ann. § 35-16-105 Powers and rights of transferor

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A transferor shall have only the powers and rights conferred by the investment services trust. The powers and rights conferred by the investment services trust upon the transferor are personal powers and rights that may not be exercised by a creditor or any other person, except a…

Tenn. Code Ann. § 35-16-106 Avoidance of qualified dispositions

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(a) A qualified disposition to an investment services trust shall be avoided only to the extent necessary to satisfy the transferor's debt to the creditor at whose instance the disposition had been avoided, together with costs, including attorneys' fees, that the court may allow.…

Tenn. Code Ann. § 35-16-107 Spendthrift provisions

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A spendthrift provision as described in § 35-16-102(7)(C) shall be deemed to be a restriction on the transfer of the transferor's beneficial interest in the trust that is enforceable under applicable nonbankruptcy law within the meaning of § 541(c)(2) of the Bankruptcy Code (11 U…

Tenn. Code Ann. § 35-16-108 Qualified trustees and advisors

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(a) For purposes of this chapter, neither the transferor nor any other natural person who is a nonresident of this state nor an entity that is not authorized by the law of this state to act as a trustee or whose activities are not subject to supervision as provided in § 35-16-102…

Tenn. Code Ann. § 35-16-109 Transferor as investment advisor

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A person may serve as an investment advisor notwithstanding that the person is the transferor of the qualified disposition.

Tenn. Code Ann. § 35-16-110 Successor trustees

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In the event that a qualified trustee of an investment services trust ceases to meet the requirements of § 35-16-102(12)(A), and there remains no trustee that meets the requirements, the qualified trustee shall be deemed to have resigned as of the time of that cessation, and ther…

Tenn. Code Ann. § 35-16-111 Revocability of trusts

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(1) An investment services trust shall not be deemed revocable on account of its inclusion of one (1) or more of the following:(1) A transferor's power to veto a distribution from the trust;(2) A power of appointment, other than a power to appoint to the transferor, the transfero…

Tenn. Code Ann. § 35-16-112 Applicability

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This chapter applies to qualified dispositions to investment services trusts and dispositions by transferors who are trustees made on or after July 1, 2007.