SB2523 - AN ACT to amend Tennessee Code Annotated, Title 66, Chapter 2, relative to property.

1 Co-Sponsor

As introduced, redesignates sanctioned foreign governmental and business entities and persons connected with such entities as foreign adversaries; restates the order in which proceeds from the sale of property acquired illegally are disbursed by requiring that the attorney general and bona fide lien holders be reimbursed from such proceeds prior to any remaining funds being paid to the restricted foreign entity; adds banks, credit unions, and those licensed by the department of financial institutions to the list of persons and entities that are exempt from liability under this part. - Amends TCA Title 66, Chapter 2.