The corporation shall have a lien upon the property insured to secure the payment of the assessments and calls as may be legally made under the contract of insurance, and, in case of loss, the subsequent purchaser, or junior lienholder, shall be entitled to the benefits of the insurance, and to the rights, benefits and privileges of the original insured, to the extent of the insured's interest in the property.
Tenn. Code Ann. § 56-20-109
Lien for assessments — Rights of subsequent purchaser, or junior lienholder
Known as the Tennessee Insurance Law
The act spans §§ 56-10-101 to 56-8-206 (1,220 sections).
Acts 1895, ch. 220, § 8; Shan., § 3366; Code 1932, § 6248; T.C.A
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.