Tenn. Comp. R. & Regs. 0780-05-10-.11

Current through June 10, 2024

Section 0780-05-10-.11 - REVOCATION OF TRUST ACCOUNT

A financial institution holding trust funds in a revocable trust account shall promptly notify the contract seller if a contract buyer exercises the right under Tenn. Code Ann. § 62-5-403(b) to withdraw any or all of such funds.

Tenn. Comp. R. & Regs. 0780-05-10-.11

Original rule filed October 22, 2002; effective January 5, 2003.

Authority: T.C.A. § 62-5-405(a) and (b).