Funds held by a manufacturer's distributor of motor vehicles that are described in one (1) or more of § 55-27-103(1) -(10), as to which the distributor is obligated to a dealer or customer, are trust funds held in trust by the manufacturer's distributor for the benefit of any dealer or customer to whom the obligation is owed.
Tenn. Code Ann. § 55-27-104
Funds held in trust by a distributor
Acts 2009, ch. 322, § 2.
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.