43-20-213 - Personal debt of purchaser Late payment penalty. - Tennessee Statutes

43-20-213. Personal debt of purchaser Late payment penalty.

Any amount withheld, or that should have been withheld, by the purchaser due to the assessment shall be a personal debt of the purchaser. If the purchaser's monthly payments to the board are not timely made, a penalty of ten percent (10%) of the amount due shall be imposed. The board is authorized to collect assessments due by any legal proceeding in a court of competent jurisdiction.

[Acts 1985, ch. 108, § 13; 1991, ch. 157, § 4.]