2021 Tennessee Code
Chapter 10 - Financial Records Privacy Act
§ 45-10-103. Permissible Acts

The following acts are expressly permitted by, but are not otherwise subject to, this chapter:
This subdivision (14) shall not be construed to impose or create a duty of disclosure on the part of a financial institution to a purchaser;
(A)  The furnishing by a financial institution of information or records to an affiliate of the financial institution;
As used in this subdivision (15), “affiliate of a financial institution” is:
A corporation, eighty percent (80%) of any class of voting stock of which is owned, directly or indirectly, by the financial institution or by a corporation that, directly or indirectly, also owns eighty percent (80%) of any class of voting stock of the financial institution; or
A corporation that owns, directly or indirectly, eighty percent (80%) of any class of voting stock of the financial institution;
The affiliate to whom the records and information are furnished shall hold the records or information subject to this chapter as if the affiliate were the financial institution furnishing the records or information; and
The furnishing by a financial institution of information or records to the extent permitted by the Gramm-Leach-Bliley Act of 1999 (Public Law 106-102); provided, the financial institution complies with the consumer disclosure requirements and opt-out provisions of the act.

Structure 2021 Tennessee Code