§ 47-4A-501 Variation by agreement and effect of funds-transfer system rule
§ 47-4A-502 Creditor process served on receiving bank – Setoff by beneficiary’s bank
§ 47-4A-503 Injunction or restraining order with respect to funds transfer
§ 47-4A-504 Order in which items and payment orders may be charged to account – Order of withdrawals from account
§ 47-4A-505 Preclusion of objection to debit of customer’s account
§ 47-4A-506 Rate of interest
§ 47-4A-507 Choice of law
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Terms Used In Tennessee Code > Title 47 > Chapter 4A > Part 5 - Miscellaneous Provisions

  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
  • Service of process: The service of writs or summonses to the appropriate party.
  • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105