Except as otherwise expressly permitted by this chapter, it is a Class B misdemeanor for an association, directly or indirectly, to pay a fine or penalty imposed by law upon any other person or any judgment against the person, or to reimburse, directly or indirectly, any person by whom the fine, penalty, or judgment has been paid, except in settlement of its own liability or in connection with the acquisition of property against which the judgment is a lien.
Tenn. Code Ann. § 45-3-1305
Unlawful payments of penalties and judgments
Known as the Tennessee Savings and Loan Act
The act spans §§ 45–45 (137 sections).
Acts 1978, ch. 708, § 5.09; T.C.A., § 45-1709.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.