Tennessee Code 45-5-404 – Remedies of borrowers – Defenses – Limitations of actions
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Terms Used In Tennessee Code 45-5-404
- Interest: means compensation for the use, detention or forbearance to collect money over a period of time, and does not include compensation for other purposes, including, but not limited to:
(A) Time-price differentials. See Tennessee Code 45-5-102 - Loan charges: means compensation to a registrant for services, expenses, detriments or commitments directly incident to a loan, and does not include compensation for other purposes, including, but not limited to, time-price differentials, interest or insurance charges. See Tennessee Code 45-5-102
- Statute: A law passed by a legislature.
The remedies of borrowers, the limitations on actions of borrowers, the defenses available to borrowers and to registrants, and the procedures applicable in the actions with respect to interest and loan charges under this chapter shall be those as prescribed by the general statute pertaining to interest and other charges by lenders or creditors.