Statute of Limitations

  1. Law
  2. Tennessee Code
  3. Banks and Financial Institutions
  4. Banking Institutions
  5. Deposits in Banks
  6. Statute of Limitations

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An action to enforce the obligation of a bank to pay all or part of the balance of a deposit account or certificate of deposit, collectively a deposit, must be commenced within six (6) years of the earlier of the following:

  1. The time that the six-year statute of limitations period begins to run under § 47-3-118(e)(1), if the deposit is a certificate of deposit subject to title 47, chapter 3; or
  2. The later of:
    1. The maturity date of the deposit, as set forth in the applicable original contract of deposit;
    2. The due date of the deposit indicated in the bank's last written notice of renewal sent pursuant to § 45-2-618;
    3. The date of the last written communication from the bank recognizing the bank's obligation with respect to the deposit; or
    4. The last day of the taxable year for which the owner of the deposit last reported interest income earned on the deposit on either a federal or state income tax return.


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