Tennessee Code Annotated

Tenn. Code Ann. § 45-15-111 (2026)

Rate of interest and charges - Consumer notification and disclosure form

✓ current as of May 2026

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(a) A title pledge lender shall contract for and receive an effective rate of interest not to exceed two percent (2%) per month; additionally, the title pledge lender may charge, contract for, and receive a customary fee to defray the ordinary costs of operating a title pledge office, including, but not limited to, investigating the title, appraising the titled personal property, insuring the personal property when in the physical possession of the title pledge lender, documenting and closing the title or property pledge transaction, making required reports to local law enforcement officials, for all other services provided by the title pledge lender, advertising, for losses on title pledge or property pledge transactions, salaries, and for all other expenses incurred by the title pledge lender except those in subsection (b). The fee shall not be deemed interest for any purpose of law, and the fee may equal no more than one-fifth (1/5) of the original principal amount of the title pledge agreement or property pledge agreement, or of the total unpaid balance due at the inception of any renewal of the agreement. The interest and fees shall be deemed to be earned, due and owing as of the date of the title pledge agreement or property pledge agreement and a like sum shall be deemed earned, due and owing on the same day of each subsequent thirty-day period.

(b) Title pledge lenders may assess and collect, as reimbursement, a repossession charge not to exceed the actual amount charged by any company or companies, attorney or attorneys and/or contractor or contractors to repossess the titled personal property and deliver the titled personal property to the storage facility of the title pledge lender.

(c) Notwithstanding § 45-1-104, or any other law to the contrary, in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, the department of financial institutions shall promulgate rules requiring each title pledge lender to issue a standardized consumer notification and disclosure form in compliance with federal truth-in-lending laws prior to entering into any property pledge agreement or title pledge agreement wherein the pledged goods will consist of, or include, one (1) or more motor vehicles titled by this or any other state. The required style, content and method of executing the form shall be specifically prescribed by the rules and shall be designed to ensure that the pledgor, prior to entering into the agreement, receives and acknowledges an accurate and complete notification and disclosure of the itemized and total amounts of all interest, fees, charges and other costs that will or potentially could be imposed as a result of the agreement.

Acts 1995, ch. 186, § 13; 1996, ch. 718, § 1.

Notes of Decisions

Cited in 4 cases, 2010–2017 · leading case: Brown v. Tennessee Title Loans, Inc., 328 S.W.3d 850 (Tenn. 2010).

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Brown v. Tennessee Title Loans, Inc., 328 S.W.3d 850 (Tenn. 2010). · cites it 2× “Here, there is no dispute that the express language of the TTPA does not create such a right of action on behalf of a title pledgor against a title pledge lender— whether in the specific section prescribing the interest and fees that title pledge lenders may charge, Tenn.Code…”

Kim Hardy v. Tournament Players Club at Southwind, Inc., d/b/a \TPC Southwind, 513 S.W.3d 427 (2017). “2010) (citing Tenn. Code Ann. § 45-15-111 (a) (2000)). The TTPA did not expressly provide for a private cause of action to enforce its terms, so the Court considered whether the plaintiffs had an implied private right of action under the Act against title pledge lenders *435 who…”

Kim Hardy v. Tournament Players Club at Southwind, Inc. d/b/a \TPC Southwind\"" (Tenn. Ct. App. 2015). · cites it 3× “The interest and fees shall be deemed to be earned, due and owing as of the date of the title pledge agreement or property pledge agreement and a like sum shall be deemed earned, due and owing on the same day of each subsequent thirty-day period.”

Kim Hardy v. Tournament Players Club at Southwind, Inc. d/b/a \TPC Southwind\" - DISSENT" (Tenn. Ct. App. 2015). · cites it 2× “Here, there is no dispute that the express language of the TTPA does not create such a right of action on behalf of a title pledgor against a title pledge lender—whether in the specific section prescribing the interest and fees that 2 title pledge lenders may charge, Tenn. Code…”

— Tenn. Code Ann. § 45-15-111(a) — 2 cases

Brown v. Tennessee Title Loans, Inc., 328 S.W.3d 850 (Tenn. 2010). “Here, there is no dispute that the express language of the TTPA does not create such a right of action on behalf of a title pledgor against a title pledge lender— whether in the specific section prescribing the interest and fees that title pledge lenders may charge, Tenn.Code…”

Kim Hardy v. Tournament Players Club at Southwind, Inc. d/b/a \TPC Southwind\"" (Tenn. Ct. App. 2015). “The interest and fees shall be deemed to be earned, due and owing as of the date of the title pledge agreement or property pledge agreement and a like sum shall be deemed earned, due and owing on the same day of each subsequent thirty-day period.”

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