On appointment of a receiver, the receiver has the status of a lien creditor under:

(1) The Uniform Commercial Code – Secured Transactions, compiled in title 47, chapter 9, as to receivership property that is personal property or fixtures; and

Terms Used In Tennessee Code 29-40-109

  • 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
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
(2) Title 66, as to receivership property that is real property.
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