Amends TCA Title 48, Chapter 1, Part 1 and Title 49, Chapter 4, Part 1.
Tennessee HB2529 requires a chancery court that determines a person has violated or is about to violate the Tennessee Securities Act of 1980 to appoint the commissioner of commerce and insurance as the receiver or conservator for the defendant, upon the commissioner's request. This bill affects individuals or entities found in violation of the securities law and enhances the regulatory authority of the commissioner in such cases. Key provisions include the mandatory appointment of the commissioner as receiver or conservator in specified circumstances.
Tennessee HB2529 requires a chancery court that determines a person has violated or is about to violate the Tennessee Securities Act of 1980 to appoint the commissioner of commerce and insurance as the receiver or conservator for the defendant, upon the commissioner's request. This bill affects individuals or entities found in violation of the securities law and enhances the regulatory authority of the commissioner in such cases. Key provisions include the mandatory appointment of the commissioner as receiver or conservator in specified circumstances.
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