Tennessee Code Annotated
Tenn. Code Ann. § 47-9-505 (2026)
Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions
✓ current as of May 2026
- (a)Use of terms other than "debtor" and "secured party". A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a financing statement, or may comply with a statute or treaty described in § 47-9-311(a), using the terms "consignor", "consignee", "lessor", "lessee", "bailor", "bailee", "licensor", "licensee", "owner", "registered owner", "buyer", "seller", or words of similar import, instead of the terms "secured party" and "debtor".
- (b)Effect of financing statement under subsection (a). This part applies to the filing of a financing statement under subsection (a) and, as appropriate, to compliance that is equivalent to filing a financing statement under § 47-9-311(b), but the filing or compliance is not of itself a factor in determining whether the collateral secures an obligation. If it is determined for another reason that the collateral secures an obligation, a security interest held by the consignor, lessor, bailor, licensor, owner, or buyer which attaches to the collateral is perfected by the filing or compliance.
Acts 2000, ch. 846, § 1.
Notes of Decisions
Cited in 6
cases, 1979–1997 · leading case: Am. City Bank of Tullahoma v. W. Auto Supply Co., 631 S.W.2d 410 (Tenn. Ct. App. 1981).
Am. City Bank of Tullahoma v. W. Auto Supply Co., 631 S.W.2d 410 (Tenn. Ct. App. 1981). “h the fulfillment of these rights and duties is to be measured if such standards are not manifestly unreasonable: (a)subsection (2) of § 47 9 502 and subsection (2) of § 47 9 -504 insofar as they require accounting for surplus proceeds of collateral: (b) subsection (3) of §…”
Sparkle Laundry & Cleaners, Inc. v. Kelton, 595 S.W.2d 88 (Tenn. Ct. App. 1979). “]” Also T.C.A. § 47-9-505(2) provides as follows: “(2) In any other case involving consumer goods or any other collateral a secured party in possession may, after default, propose to retain the collateral in satisfaction of the obligation.”
Trimble v. Sonitrol of Memphis, Inc., 723 S.W.2d 633 (Tenn. Ct. App. 1986). “§ 47-9-501(3) states: (3)To the extent that they give rights to the debtor and impose duties on the secured party, the rules stated in the *639 subsections referred to below may not be waived or varied except as provided with respect to compulsory disposition of collateral…”
Pippin Way, Inc. v. Four Star Music Co. (In Re Four Star Music Co.), 2 B.R. 454 (Bankr. M.D. Tenn. 1979). “” The statute then lists the rules which may not be waived, including “subsection (3) of § 47-9-504 and subsection (1) of § 47-9-505 which deal with disposition of collateral Although the statute has not attempted to define the parameters of the term “commercially reasonable”,…”
Transp. Acceptance Corp. v. Crosby (In re Crosby), 23 B.R. 514 (Bankr. E.D. Tenn. 1982). “See Tenn.Code Ann. § 47-9-505. The debtor retained the clear Oklahoma title issued in his name.”
Coy Hardaway v. William Burnett (Tenn. Ct. App. 1997). “2d at 419; T.C.A. § 47-9-505(2) (1992);2 see also Fletcher v.”
— Tenn. Code Ann. § 47-9-505(2) — 3 cases
Am. City Bank of Tullahoma v. W. Auto Supply Co., 631 S.W.2d 410 (Tenn. Ct. App. 1981). “h the fulfillment of these rights and duties is to be measured if such standards are not manifestly unreasonable: (a)subsection (2) of § 47 9 502 and subsection (2) of § 47 9 -504 insofar as they require accounting for surplus proceeds of collateral: (b) subsection (3) of §…”
Sparkle Laundry & Cleaners, Inc. v. Kelton, 595 S.W.2d 88 (Tenn. Ct. App. 1979). “]” Also T.C.A. § 47-9-505(2) provides as follows: “(2) In any other case involving consumer goods or any other collateral a secured party in possession may, after default, propose to retain the collateral in satisfaction of the obligation.”
Coy Hardaway v. William Burnett (Tenn. Ct. App. 1997). “2d at 419; T.C.A. § 47-9-505(2) (1992);2 see also Fletcher v.”
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