In case of failure to pay any assessment, or installment, on or before the date prescribed by the governing body for such payment, there shall be added to the assessment a penalty of one half of one percent (0.5%) per month of the amount of such assessment or installment.
Tenn. Code Ann. § 7-84-418
Penalty for late payment of assessment or installment
Known as the Central Business Improvement District Act
The act spans §§ 7–7 (102 sections).
Acts 1971, ch. 268, § 32; T.C.A., § 6-3932.
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.