Tennessee State Law
To Our Creditor, contract executed in the state of Tennessee:
Tennessee is unique in that it criminalizes what is most often considered a civil matter in other states. Under Tennessee 39-14-116, it is a class E felony to commit any act that hinders the creditor’s ability to enforce its security interest in the property you possess. You may not destroy, remove or otherwise harm the value of your property with the intent to hinder the enforcement of a security interest held by another person or company on that property.
Conviction of an E class felony in the State of Tennessee could result in a prison term of one to six years and fines excessive of $3,000.
(a) A person who claims ownership of or interest in any property which is the subject of a security interest, security agreement, deed of trust, mortgage, attachment, judgement or other statutory or equitable lien commits an offense who, with intent to hinder enforcement of that interest or lien, destroys, removes, conceals, encumbers, transfers, or otherwise harms or reduces the value of the property.
(b) For purposes of this section, unless the context otherwise requires.
(1) “Remove” means to transport, without the effective consent of the secured party, from the state or county in which the property was located when the security interest or lien, attached.
(2) “Security interest” means an interest in personal property or fixtures that secures payment or performance of an obligation.
(c) An offense under this section is a Class E felony.
I have read and understand the laws above and that if my loan is not kept current I can be prosecuted under the stipulations written above. If my loan falls more than 90 days past due and a payment plan has not been agreed upon with Kings Firearms and Firearm Financial, warrant for my arrest may be pursued.