30-2-319 - Time for payment of claims. - Tennessee Statutes

30-2-319. Time for payment of claims.

All uncontested claims and all contested claims that have been finally adjudged and allowed shall be paid by the personal representative as soon as practicable (not in any event to exceed ninety (90) days) after the expiration of five (5) months after the date of the notice to creditors, if, after having segregated sufficient assets to meet the contingent liabilities referred to in § 30-2-317, adequate assets are in the personal representative's hands for this purpose, payment being made according to the classification of the claims.

[Acts 1939, ch. 175, § 4; 1941, ch. 62, § 1; 1947, ch. 137, § 4; C. Supp. 1950, § 8196.5 (Williams, § 8196.4); Acts 1971, ch. 229, § 6; T.C.A. (orig. ed.), § 30-523; Acts 1997, ch. 426, § 8.]