Each licensee under this chapter must at all times possess permissible investments having an aggregate market value, calculated in accordance with generally accepted accounting principles, of not less than the aggregate face amount of all outstanding payment instruments issued or sold by the licensee in the United States. This requirement may be waived by the commissioner if the dollar volume of a licensee's outstanding payment instruments does not exceed the bond or other security devices posted by the licensee pursuant to § 45-7-108.
Structure 2021 Tennessee Code
Title 45 - Banks and Financial Institutions
Chapter 7 - Money Transmitters
§ 45-7-103. Chapter Definitions
§ 45-7-106. Permissible Investments
§ 45-7-107. License Application — Criminal History Records Check and Fingerprint Sample
§ 45-7-116. Confidentiality of Data Submitted to the Commissioner
§ 45-7-117. Suspension or Revocation of Licenses
§ 45-7-118. Authorized Agent Contracts
§ 45-7-121. Licensee Liability
§ 45-7-122. Hearings — Procedures
§ 45-7-126. Promulgation of Rules
§ 45-7-128. Use of Multi-State Automated Licensing System as Agent for Channeling Information
§ 45-7-130. Submission of Multi-State Automated Licensing System Reports of Condition