Bill > SB0765

This bill makes several changes to Tennessee banking and garnishment laws. In the garnishment process, the bill modifies the timeline for how quickly a garnishee (typically a bank or employer) must respond to a garnishment summons, reducing the previous requirement from five business days to two business days. During this two-day period, the garnishee must determine if they possess any of the judgment debtor's money or property, place a hold on available funds, and send a copy of the garnishment summons to the judgment debtor. The bill emphasizes that the garnishee must place a hold on funds before sending any notification to the debtor. Additionally, the bill introduces provisions in several sections of Tennessee's commercial code that allow for reasonable attorney fees if a warrantor fails to pay a breach of warranty claim within 30 days after receiving written notice via certified mail, registered mail, or commercial courier. These changes aim to streamline the garnishment process and provide clearer guidelines for financial transactions and warranty claims. The bill will take effect immediately upon becoming law and will apply to acts occurring on or after its effective date.

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https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0765&ga=114