9-21-314 - Sale of assets by receiver prohibited. - Tennessee Statutes

9-21-314. Sale of assets by receiver prohibited.

Notwithstanding § 9-21-313, the receiver shall have no power to sell, assign, mortgage or otherwise dispose of any assets of whatever kind or character belonging to the local government or any local government instrumentality and useful for the public works project. The authority of any receiver shall be limited to the operation and maintenance of the public works project, and no court shall have jurisdiction to enter any order or decree requiring or permitting the receiver to sell, mortgage, or otherwise dispose of any such assets.

[Acts 1986, ch. 770, § 3-14.]