Amends TCA Title 48, Chapter 1, Part 1 and Title 49, Chapter 4, Part 1.
Tennessee SB1866 requires a chancery court, upon finding that a person has engaged in or is about to engage in violations of the Tennessee Securities Act of 1980, to appoint the commissioner of commerce and insurance as the receiver or conservator for the defendant if requested by the commissioner. This bill affects individuals or entities found in violation of the Securities Act and outlines the process for appointing a receiver or conservator in such cases. Key provisions include the specification of the chancery court's responsibilities and the role of the commissioner in these proceedings.
Tennessee SB1866 requires a chancery court, upon finding that a person has engaged in or is about to engage in violations of the Tennessee Securities Act of 1980, to appoint the commissioner of commerce and insurance as the receiver or conservator for the defendant if requested by the commissioner. This bill affects individuals or entities found in violation of the Securities Act and outlines the process for appointing a receiver or conservator in such cases. Key provisions include the specification of the chancery court's responsibilities and the role of the commissioner in these proceedings.
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