2010 Tennessee Code
Title 66 - Property
Chapter 29 - Abandoned or Unclaimed Property
Part 1 - Uniform Disposition of Unclaimed (Personal) Property Act
66-29-152 - Lawful charges or deductions Notice.

66-29-152. Lawful charges or deductions Notice.

(a)  Charges or deductions described in §§ 66-29-104, 66-29-106 and 66-29-112 shall be deemed “lawful” if:

     (1)  The holder has given prior constructive or actual notice to the owner that such charges or deductions may be imposed. Actual notice is given if the holder obtained written consent to the charges or deductions from the owner. Constructive notice is given if the holder implements a new charge or deduction policy or increases the amount of the charge or deduction after the holder takes possession of the owner's property and the holder sent correspondence in writing to the owner by first class or superior mailing disclosing the new charge or deduction policy or increase, and such correspondence was not returned by the post office;

     (2)  The charges or deductions are not imposed retroactively in order to reduce the value of or eliminate the property after the property is presumed abandoned; and

     (3)  The charges or deductions are not routinely refunded or cancelled when the property is claimed by the owner.

(b)  Charges or deductions described in subdivisions (a)(1) and (2) shall not be unlawful for purposes of this section if such charges or deductions were withheld prior to April 25, 1991.

[Acts 1991, ch. 194, § 1.]