§ 13-30-115. Liberal Construction
This chapter shall be construed liberally to effectuate the legislative intent and the purposes as complete and independent authorization for the performance of each and every act and thing authorized by this chapter, and all powers granted shall be broadly interpreted to effectuate the intent and purposes and not as a limitation of powers. Except […]
§ 13-30-116. Exemption From State Taxes — Payment of Unpaid Taxes — Proceeds of Sales — Revenue
In accordance with §§ 67-5-2505 [repealed], 67-5-2507, 67-5-2508, 67-5-2509, and [former] 67-5-2514, the corporation is exempt from any state taxation. Additionally, the corporation has the power to pay any unpaid taxes due and owing by the owner of record of the real property, or make any government mandated improvements to the property, in exchange for […]
§ 13-30-117. Action to Quiet Title
A corporation shall be authorized to file an action to quiet title as to any real property in which the corporation has an interest. For purposes of any and all such actions, the corporation shall be deemed to be the holder of sufficient legal and equitable interests, and possessory rights, so as to qualify the […]
§ 13-30-105. Board of Directors
The corporation shall have a board of directors in which all powers of the corporation shall be vested. Such board shall consist of any number of directors, no fewer than five (5), all of whom shall be duly qualified electors of and taxpayers in the creating local government or local governments. The creating local government […]
§ 13-30-106. Quorum for Transaction of Business — Officers — Rules and Regulations — Removal of Board Members — Compensation — Meetings — Majority Approval for Actions of the Board — No Proxy Voting
A majority of the board of the corporation shall constitute a quorum for the transaction of any business. Unless a greater number or percentage is required by state law, the vote of a simple majority of the directors present at any meeting at which a quorum is present shall be the action of the corporation. […]
§ 13-30-107. Corporate Authority to Create Land Bank for Real Property — Compliance With State Law, Ethical Standards, and Open Records Provisions
The corporation, once created, shall have the authority to create a land bank for real property located within the boundaries of the creating local government or local governments. No rules or bylaws created by the corporation may contravene state law. All board members, appointees, employees and/or paid advisors of the corporation created, appointed or employed, […]
§ 13-30-101. Short Title
This chapter shall be known and may be cited as the “Tennessee Local Land Bank Program.”
§ 13-30-102. Legislative Findings
The legislature finds and declares as follows: Tennessee’s communities are important to the social and economic vitality of the state. Whether urban, suburban or rural, many communities are struggling to cope with vacant, abandoned and tax-delinquent properties; There exists a crisis in many cities and their metro areas caused by disinvestment in real property and […]
§ 13-30-103. Chapter Definitions
As used in this chapter, unless the context clearly indicates otherwise: “Board of directors” or “board” means the board of directors or other similar governing body of the corporation; “Corporation” means a corporation created pursuant to this chapter to operate a land bank; “Land bank” means real property, however obtained or acquired and held by […]
§ 13-30-104. Creating Corporation — Funding
Any local government shall have the authority to create a corporation which is authorized to operate a land bank within the jurisdictional boundaries of the local government establishing the corporation. The corporation is declared to be performing a public function on behalf of the local government with respect to which the corporation is created and […]