2010 Tennessee Code
Title 30 - Administration of Estates
Chapter 3 - Absentees' Estates
Part 1 - Uniform Law
30-3-110 - Termination of receivership.

30-3-110. Termination of receivership.

Upon the entry of any final finding and decree as provided in § 30-3-108, the court shall proceed to wind up the receivership and terminate the proceedings:

     (1)  In the case of a finding under subsections (a) or (c) of § 30-3-108, that the absentee is dead:

          (A)  By satisfying all outstanding debts and charges of the receivership; and

          (B)  By then certifying the proceedings to the probate court; or

     (2)  In the case of a finding under § 30-3-108(b):

          (A)  By satisfying all outstanding debts and charges;

          (B)  By then deducting for the insurance fund provided in § 30-3-113, a sum equal to twenty-five percent (25%) of the total value of the property remaining, including amounts paid to the receivership estate from policies of insurance on the absentee's life; and

          (C)  By distributing the remaining property as provided in § 30-3-111; and

     (3)  In both cases by requiring the receiver's account and upon its approval discharging the receiver and the receiver's bondsmen and entering a final decree terminating the receivership.

[Acts 1941, ch. 102, § 8; C. Supp. 1950, § 8407.17; T.C.A. (orig. ed.), § 30-1810; Acts 2001, ch. 121, § 4.]