47-23-106 - Creditor to notify debtor of creditor's change of address. - Tennessee Statutes

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Statutes > Tennessee > Title-47 > Chapter-23 > 47-23-106

47-23-106. Creditor to notify debtor of creditor's change of address.

(a) Each creditor shall notify its debtors of the creditor's change of address, within fifteen (15) days of such change of address, if failure to so notify may result in a debtor being assessed late charges or additional interest for failure to timely submit payment.

(b) Each violation of subsection (a) constitutes an unfair and deceptive act and shall be subject to the procedures and penalties prescribed by chapter 18, part 1 of this title.

(c) The provisions of this section shall be enforced by the division of consumer affairs, department of commerce and insurance, in accordance with the procedures prescribed by chapter 18, part 1 of this title.

[Acts 1987, ch. 400, § 3.]

State Codes and Statutes

Statutes > Tennessee > Title-47 > Chapter-23 > 47-23-106

47-23-106. Creditor to notify debtor of creditor's change of address.

(a) Each creditor shall notify its debtors of the creditor's change of address, within fifteen (15) days of such change of address, if failure to so notify may result in a debtor being assessed late charges or additional interest for failure to timely submit payment.

(b) Each violation of subsection (a) constitutes an unfair and deceptive act and shall be subject to the procedures and penalties prescribed by chapter 18, part 1 of this title.

(c) The provisions of this section shall be enforced by the division of consumer affairs, department of commerce and insurance, in accordance with the procedures prescribed by chapter 18, part 1 of this title.

[Acts 1987, ch. 400, § 3.]

State Codes and Statutes

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State Codes and Statutes

Statutes > Tennessee > Title-47 > Chapter-23 > 47-23-106

47-23-106. Creditor to notify debtor of creditor's change of address.

(a) Each creditor shall notify its debtors of the creditor's change of address, within fifteen (15) days of such change of address, if failure to so notify may result in a debtor being assessed late charges or additional interest for failure to timely submit payment.

(b) Each violation of subsection (a) constitutes an unfair and deceptive act and shall be subject to the procedures and penalties prescribed by chapter 18, part 1 of this title.

(c) The provisions of this section shall be enforced by the division of consumer affairs, department of commerce and insurance, in accordance with the procedures prescribed by chapter 18, part 1 of this title.

[Acts 1987, ch. 400, § 3.]