TN Attorney General Opinions
Date: 2011-11-28
Opinion Number: 11-79
QUESTION:
Whether the Tennessee Investment Services Act of 2007 requires a creditor to prove fraud in order to prevail on an action for attachment or other provisional remedy against property that is a qualified disposition to an investment services trust, or to avoid a qualified disposition to such a trust?
OPINION:
Yes. If the creditor’s claim arises before a qualified disposition, the creditor may prevail by proving actual or constructive fraud. However, if the creditor’s claim arises after a qualified disposition, the creditor must prove actual intent to defraud.
Read the full opinion at: http://www.tba2.org/tba_files/AG/2011/ag_11_79.pdf
