House Bill 745 amends various sections of the Tennessee Code Annotated related to banking and garnishment procedures. Notably, it revises Section 26-2-203(b) to require garnishees to determine within five business days whether they possess or control any money or property belonging to the judgment debtor and to notify the debtor accordingly. This section also emphasizes the garnishee's obligation to place a hold on any available funds during this period. Additionally, a new subsection (b) is added to reinforce this requirement, ensuring clarity in the garnishment process.

The bill further introduces provisions across several sections (47-3-416, 47-3-417, 47-4-207, and 47-4-208) that mandate the inclusion of reasonable attorney fees in the expenses incurred by individuals or entities claiming a breach of warranty if the warrantor fails to respond to written notice of the claim within thirty days. These amendments aim to enhance the accountability of warrantors and streamline the process for those seeking redress for warranty breaches. The act is set to take effect upon becoming law and will apply to actions occurring on or after that date.

Statutes affected:
Introduced: 26-2-203(b), 26-2-203, 47-3-416(b), 47-3-416, 47-3-417(b), 47-3-417, 47-4-207(c), 47-4-207, 47-4-208(b), 47-4-208