The commissioner, after a determination of value, may order that assets, individually or in the aggregate, to the extent that the assets are overvalued on an association's books, be charged off, or that a special reserve or reserves equal to the overvaluation be set up by transfers from surplus, undivided profits or reserves.
Structure 2021 Tennessee Code
Title 45 - Banks and Financial Institutions
Chapter 3 - Savings and Loan Associations
§ 45-3-801. Supervision of Associations
§ 45-3-803. Forms — Records — Accounting Practices
§ 45-3-804. Misdescription of Assets
§ 45-3-805. Charging Off or Setting Up Reserves Against Bad Assets
§ 45-3-806. Reproduction and Destruction of Records
§ 45-3-813. Commissioner Authorized to Have Appraisals Made at Expense of Association
§ 45-3-815. Access to Records — Summons — Oaths and Examination of Witnesses
§ 45-3-816. Additional Supervisory Powers
§ 45-3-818. Commissioner May Order Any Association to Discontinue Any Illegal Practice
§ 45-3-819. Removal of Directors, Officers, and Employees Participating in Violations