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Tennessee Code Title 47. Commercial Instruments and Transactions § 47-25-1218

Current as of January 02, 2024 | Updated by Findlaw Staff

In lieu of furnishing the bond required by § 47-25-1217, the invention developer may deposit with the secretary of state a cash deposit in the like amount. This cash deposit may be satisfied by any of the following:

(1) Certificates of deposit payable to the secretary of state issued by banks doing business in this state and insured by the federal deposit insurance corporation;

(2) Investment certificates of share accounts assigned to the secretary of state and issued by a savings and loan association doing business in this state and insured by the federal deposit insurance corporation;

(3) Bearer bonds issued by the United States government or by this state; or

(4) Cash deposited with the secretary of state.

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Cite this article: FindLaw.com - Tennessee Code Title 47. Commercial Instruments and Transactions § 47-25-1218 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-47-commercial-instruments-and-transactions/tn-code-sect-47-25-1218/

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