# Tenn. Code Ann. § 45-15-105: License required - Loans made without license void

> Tennessee · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_TN_T45_C15_S45-15-105

## Section

- **Citation:** Tenn. Code Ann. § 45-15-105
- **Heading:** License required - Loans made without license void
- **Jurisdiction:** Tennessee
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** TN Code / Title 45 / Chapter 15 / Section 45-15-105

## Text

(a) No person shall engage in the business of title pledge lending without having first obtained a license. A separate license shall be required for each location from which the business is conducted. Any person engaged in the business of title pledge lending on November 1, 2005, under a license issued by the county clerk, may continue to engage in the business without a license issued by the commissioner, until the commissioner has acted upon the application for a license, if the application is filed by December 31, 2005. (b) Any loan made without a license is void, in which case the person making the loan forfeits the right to collect any moneys, including principal, interest, and any other fee paid by the pledgor in connection with the title pledge agreement or property pledge agreement. The person making the loan shall return to the pledgor the pledged property, the titled personal property pledged, or the fair market value of the titled personal property, and all principal, interest, and any other fees paid by the pledgor. The pledgor is entitled to receive reasonable attorney's fees and costs in any action brought by a pledgor to recover from the person making the loan, the pledged property, the titled personal property, and the principal, interest and any fees paid by the pledgor. Acts 1995, ch. 186, § 13; 2005, ch. 440, § 4.
(a) No person shall engage in the business of title pledge lending without having first obtained a license. A separate license shall be required for each location from which the business is conducted. Any person engaged in the business of title pledge lending on November 1, 2005, under a license issued by the county clerk, may continue to engage in the business without a license issued by the commissioner, until the commissioner has acted upon the application for a license, if the application is filed by December 31, 2005.
(b) Any loan made without a license is void, in which case the person making the loan forfeits the right to collect any moneys, including principal, interest, and any other fee paid by the pledgor in connection with the title pledge agreement or property pledge agreement. The person making the loan shall return to the pledgor the pledged property, the titled personal property pledged, or the fair market value of the titled personal property, and all principal, interest, and any other fees paid by the pledgor. The pledgor is entitled to receive reasonable attorney's fees and costs in any action brought by a pledgor to recover from the person making the loan, the pledged property, the titled personal property, and the principal, interest and any fees paid by the pledgor.
Acts 1995, ch. 186, § 13; 2005, ch. 440, § 4.

## Nearby sections

- [Tenn. Code Ann. § 45-15-101 Short title](https://www.frixlaw.com/law-library/statutes/STATE_TN_T45_C15_S45-15-101.md)
- [Tenn. Code Ann. § 45-15-102 Purpose](https://www.frixlaw.com/law-library/statutes/STATE_TN_T45_C15_S45-15-102.md)
- [Tenn. Code Ann. § 45-15-103 Chapter definitions](https://www.frixlaw.com/law-library/statutes/STATE_TN_T45_C15_S45-15-103.md)
- [Tenn. Code Ann. § 45-15-104 Authority of licensed title pledge lenders](https://www.frixlaw.com/law-library/statutes/STATE_TN_T45_C15_S45-15-104.md)
- [Tenn. Code Ann. § 45-15-105 License required - Loans made without license void](https://www.frixlaw.com/law-library/statutes/STATE_TN_T45_C15_S45-15-105.md)
- [Tenn. Code Ann. § 45-15-106 Eligibility requirements for license - Application - Fees - Issuance or denial of license - Hearing on denial - Renewal - Change in control of lender](https://www.frixlaw.com/law-library/statutes/STATE_TN_T45_C15_S45-15-106.md)
- [Tenn. Code Ann. § 45-15-107 Suspension or revocation of license](https://www.frixlaw.com/law-library/statutes/STATE_TN_T45_C15_S45-15-107.md)
- [Tenn. Code Ann. § 45-15-108 Rules and regulations - Compliance examinations - Preservation of books and records - Reproduction and preservation of records - Report by commissioner on rates and terms of loans](https://www.frixlaw.com/law-library/statutes/STATE_TN_T45_C15_S45-15-108.md)
- [Tenn. Code Ann. § 45-15-109 Notification to commissioner of changes - Events requiring report to commissioner - Biennial reports](https://www.frixlaw.com/law-library/statutes/STATE_TN_T45_C15_S45-15-109.md)
- [Tenn. Code Ann. § 45-15-110 Record of transactions required - Required information printed on agreement - Execution of agreement - Liens](https://www.frixlaw.com/law-library/statutes/STATE_TN_T45_C15_S45-15-110.md)
- [Tenn. Code Ann. § 45-15-111 Rate of interest and charges - Consumer notification and disclosure form](https://www.frixlaw.com/law-library/statutes/STATE_TN_T45_C15_S45-15-111.md)
- [Tenn. Code Ann. § 45-15-112 Right to redeem](https://www.frixlaw.com/law-library/statutes/STATE_TN_T45_C15_S45-15-112.md)
- [Tenn. Code Ann. § 45-15-113 Thirty-day agreements - Renewal of agreements - Right to cancel - Fees and requirements for renewals](https://www.frixlaw.com/law-library/statutes/STATE_TN_T45_C15_S45-15-113.md)
- [Tenn. Code Ann. § 45-15-114 Twenty-day holding period - Procedure for redemption or failure to redeem - Loss of agreement by pledgor](https://www.frixlaw.com/law-library/statutes/STATE_TN_T45_C15_S45-15-114.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_TN_T45_C15_S45-15-105. Check the current official text before relying on it. Not legal advice.