No corporation or partnership doing business in this state shall have the power to execute a mortgage or deed of trust or other instrument creating a lien upon the property of the corporation prior to that in favor of the employees and laborers, except to secure purchase money.
Tenn. Code Ann. § 66-13-103
Priority over other liens
Acts 1883, ch. 18, § 1; 1897, ch. 78, § 2; Shan., § 3566; mod
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.