45-2-1019 - Pledge of assets. - Tennessee Statutes

45-2-1019. Pledge of assets.

(a)  A state trust company may not pledge or create a lien on any of its assets except:

     (1)  To secure the repayment of money borrowed;

     (2)  As specifically authorized or required by § 45-2-611; or

     (3)  By rules adopted under this chapter.

(b)  An act, deed, conveyance, pledge, or contract in violation of this section is void.

[Acts 1999, ch. 112, § 10.]