26-3-106 - Order of levy on parties secondarily liable. - Tennessee Statutes

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26-3-106. Order of levy on parties secondarily liable.

(a) After exhausting the property of the principal, it shall be the duty of the officer to subject the property of the other parties in the order of their liability on the debt or contract.

(b) The party subsequently liable shall, if requested by the officers, show the property of the prior liable party to secure the benefit of this section.

[Code 1858, § 3030 (deriv. Acts 1843-1844, ch. 32, § 1); Shan., § 4758; Code 1932, § 8891; T.C.A. (orig. ed.), § 26-406.]

State Codes and Statutes

Statutes > Tennessee > Title-26 > Chapter-3 > 26-3-106

26-3-106. Order of levy on parties secondarily liable.

(a) After exhausting the property of the principal, it shall be the duty of the officer to subject the property of the other parties in the order of their liability on the debt or contract.

(b) The party subsequently liable shall, if requested by the officers, show the property of the prior liable party to secure the benefit of this section.

[Code 1858, § 3030 (deriv. Acts 1843-1844, ch. 32, § 1); Shan., § 4758; Code 1932, § 8891; T.C.A. (orig. ed.), § 26-406.]

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State Codes and Statutes

Statutes > Tennessee > Title-26 > Chapter-3 > 26-3-106

26-3-106. Order of levy on parties secondarily liable.

(a) After exhausting the property of the principal, it shall be the duty of the officer to subject the property of the other parties in the order of their liability on the debt or contract.

(b) The party subsequently liable shall, if requested by the officers, show the property of the prior liable party to secure the benefit of this section.

[Code 1858, § 3030 (deriv. Acts 1843-1844, ch. 32, § 1); Shan., § 4758; Code 1932, § 8891; T.C.A. (orig. ed.), § 26-406.]