2010 Tennessee Code
Title 47 - Commercial Instruments And Transactions
Chapter 13 - Assignments for Benefit of Creditors
47-13-120 - Time for presenting claims Notice.
47-13-120. Time for presenting claims Notice.
(a) A trustee under a general assignment made for the benefit of creditors shall give notice for a reasonable time by advertisement for four (4) consecutive issues in the nearest newspaper to or within the county in which the trustee is qualified, and by posting at the courthouse door of the county, for all persons having claims secured by the assignment to present the claims to the trustee, taking the trustee's receipt therefor, on or before a day fixed in such notice, which day shall not be less than twelve (12) months after the day of notice.
(b) Any claims not presented to the trustee on or before the day so fixed, or before an appropriation of the trust funds, shall be forever barred, both in law and equity.
[Acts 1891, ch. 184, § 1; Shan., § 3528; mod. Code 1932, § 7792; T.C.A. (orig. ed.), § 47-1520.]
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