(a) An owner shall:

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Terms Used In Tennessee Code 29-40-113

  • Court: means a chancery court in this state. See Tennessee Code 29-40-102
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Owner: means the person for whose property a receiver is appointed. See Tennessee Code 29-40-102
  • Person: means an individual. See Tennessee Code 29-40-102
  • Property: includes proceeds, products, offspring, rents, or profits of or from the property. See Tennessee Code 29-40-102
  • Receiver: means a person appointed by the court as the court's agent, and subject to the court's direction, to take possession of, manage, and, if authorized by this chapter or court order, transfer, sell, lease, license, exchange, collect, or otherwise dispose of receivership property. See Tennessee Code 29-40-102
  • Receivership: means a proceeding in which a receiver is appointed. See Tennessee Code 29-40-102
  • Receivership property: includes any proceeds, products, offspring, rents, or profits of or from the property. See Tennessee Code 29-40-102
  • State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Tennessee Code 29-40-102
  • Subpoena: A command to a witness to appear and give testimony.
  • Trustee: A person or institution holding and administering property in trust.
(1) Assist and cooperate with the receiver in the administration of the receivership and the discharge of the receiver’s duties;
(2) Preserve and turn over to the receiver all receivership property in the owner’s possession, custody, or control;
(3) Identify all records and other information relating to the receivership property, including a password, authorization, or other information needed to obtain or maintain access to or control of the receivership property, and make available to the receiver the records and information in the owner’s possession, custody, or control;
(4) On subpoena, submit to examination under oath by the receiver concerning the acts, conduct, property, liabilities, and financial condition of the owner or any matter relating to the receivership property or the receivership; and
(5) Perform any duty imposed by court order, this chapter, or the law of this state, other than this chapter.
(b) If an owner is a person other than an individual, this section applies to each officer, director, manager, member, partner, trustee, or other person exercising or having the power to exercise control over the affairs of the owner.
(c) If a person knowingly fails to perform a duty imposed by this section, the court may:

(1) Award the receiver actual damages caused by the person’s failure, reasonable attorney’s fees, and costs; and
(2) Sanction the failure as civil contempt.
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