2021 Tennessee Code
Title 45 - Banks and Financial Institutions

§ 45-1-125. Liability of Director or Officer of Financial Institution in Receivership or Reorganization - A director or officer, including a former director or officer...

§ 45-1-128. [reserved.] - All applications required to be submitted to the commissioner under...

Part 2 - Bank Customer Dispute Resolution Act of 1981

§ 45-1-201. Short Title - This part shall be known and may be cited as...

§ 45-1-202. Commissioner Authorized to Mediate or Arbitrate - The commissioner has the discretion to mediate or arbitrate a...

§ 45-1-203. Decision to Intervene Discretionary With Commissioner - Upon receipt of a complaint, the commissioner shall determine whether...

§ 45-1-206. Commissioner to Notify Parties of Effect of Award, Right to Appeal - The commissioner shall advise both parties in writing, at the...

§ 45-1-207. Commissioner's Rulemaking Authority - The commissioner is granted the power to enact reasonable substantive...

§ 45-1-209. General Arbitration Law Inapplicable - Title 29, chapter 5, part 1 does not apply to...

Chapter 2 - Banking Institutions

Part 1 - General Provisions

§ 45-2-104. Equality of Taxation - Except for taxes on property and the banking fees provided...

§ 45-2-105. Exemption of Nonprofit General Welfare Corporations - The commissioner may exempt a trust company from any requirement...

Part 2 - Organization of Banks

§ 45-2-206. Subscription Calls - After the charter for a corporation seeking to conduct banking...

§ 45-2-212. Application for Certificate of Authority — Contents - After the applicant has received notification from the commissioner that...

§ 45-2-214. Time for Approval or Denial of Application — Conditions for Approval - The commissioner shall approve or deny the application for a...

§ 45-2-216. Forfeiture of Charter for Failure to Obtain Certificate of Authority or to Commence Business — Restitution of Improper Expenditures - If no application for a certificate of authority is filed...

§ 45-2-217. Operation Before Receiving Certificate of Authority Prohibited - It is a criminal offense against this chapter and chapter...

§ 45-2-219. Charter Null and Void on Ceasing Business — Definition - Any charter issued under this chapter shall be null and...

Part 3 - Stockholders

§ 45-2-301. [reserved.] - The bank may not vote shares that it holds in...

§ 45-2-303. Items Allowed in the Charter of a Bank — Required Language if Bank Amends Its Charter — Shareholder Consent to Release of Information — No Fee for Approving Charter Amendment — Right of Shareholder to Be Informed in Writing of Number of S... - THE RECORD OF SHAREHOLDERS OF THIS BANK IS NOT SUBJECT...

§ 45-2-305. Stockholders Relieved of Double Liability - Stockholders in banking institutions doing a general banking business in...

Part 4 - Directors and Officers

§ 45-2-404. Authority to Declare Dividends - The board of directors of a state bank may not...

Part 5 - Membership in Federal Reserve Banks

§ 45-2-501. Part Definitions - As used in this part, unless the context otherwise requires:

§ 45-2-502. Power to Subscribe to Stock - Any state bank has the power to subscribe to the...

§ 45-2-503. Powers of Federal Reserve Bank Membership - A state bank that is or that becomes a member...

§ 45-2-504. Reserves of Federal Reserve Act Sufficient - A compliance on the part of a bank with the...

§ 45-2-505. Supervision and Examinations — Disclosures to Federal Reserve Board - The bank shall continue to be subject to the supervision...

Part 6 - General Powers of Banks

§ 45-2-601. General Powers - Subject to regulation by the commissioner and any restrictions expressly...

§ 45-2-603. Emergency Powers - In the event of an emergency resulting from fire, act...

§ 45-2-606. Depositories - Any bank may, for the convenience of its customers, provide...

§ 45-2-609. Sale of Assets in Ordinary Course - A bank may sell any asset in the ordinary course...

§ 45-2-610. Borrowing - Any bank may borrow money and issue evidence of indebtedness...

Part 7 - Deposits in Banks

§ 45-2-701. Interest on Accounts - Banks shall be invested with the right and power to...

§ 45-2-702. Deposit of Minor - A bank may operate a deposit account in the name...

§ 45-2-706. Adverse Claim to Bank Deposit - Notice to any bank of an adverse claim to a...

§ 45-2-709. Reserve Against Deposits - A state bank shall maintain a reserve against deposits in...

§ 45-2-710. Statute of Limitations - An action to enforce the obligation of a bank to...

Part 8 - Deposit Insurance

§ 45-2-801. Membership in Federal Deposit Insurance Corporation Authorized - Any state bank is empowered, on the authority of its...

§ 45-2-803. Subrogation Rights of Federal Deposit Insurance Corporation on Payment of Insured Deposits - Whenever any state bank is closed and the federal deposit...

§ 45-2-804. Commissioner to Furnish Deposit Insurance Corporation Copies of Examinations and Other Information - The commissioner may furnish to the corporation, or to any...

§ 45-2-806. Depositories of Public Funds Exempt From Security Requirements to Extent of Deposit Insurance - Notwithstanding any provisions of the existing laws of this state...

Part 9 - Safe Deposit and Safekeeping

§ 45-2-901. Part Definitions - As used in this part, unless the context otherwise requires:

§ 45-2-902. Authority to Engage in Leasing Safe Deposit Facilities — Liability of Lessor - Any bank has the right to construct a vault on...

§ 45-2-904. Lease to Minor - A bank may lease a safe deposit box to and...

Part 10 - Fiduciary Powers

§ 45-2-1001. Company Authorized to Act as Fiduciary - No company shall act as a fiduciary in this state...

§ 45-2-1005. Fiduciary Bond or Oath Excused - No oath or bond shall be required of a bank...

§ 45-2-1011. Fiduciary Activities of Out-of-State Trust Institution - An out-of-state trust institution that establishes and maintains one (1)...

§ 45-2-1015. Name of Trust Institution - A state trust company or out-of-state trust institution may use...

§ 45-2-1016. Designation of Trustee - Any person residing in this state may designate any trust...

§ 45-2-1017. Choice of Law Governing Trust and Fiduciary Investments - Any trust institution that maintains a trust office in this...

§ 45-2-1018. Engaging in Commerce Prohibited - A state trust company may not invest its funds in...

§ 45-2-1020. Merger Authority - A state trust company may merge with another trust company...

Part 11 - Loans

§ 45-2-1101. Loans Authorized - Any state bank may lend money and discount or purchase...

§ 45-2-1102. Limit of Loans to Any One Borrower — Classified Loans - Column A Column B 25% 115% 30% 120% 35% 125%...

§ 45-2-1103. Loans to Officers and Directors - Compliance with the requirements of 12 U.S.C. §§ 375a, 375b,...

§ 45-2-1105. Participation With Other Lenders - A state bank may participate in a loan with another...

§ 45-2-1107. Disclosure of Terms and Conditions of Loan - When an installment loan is made and interest is charged...

§ 45-2-1108. Same Power to Make Loans as National Banks - Notwithstanding any provision to the contrary in this chapter and...

Part 12 - Elderly and Vulnerable Adult Financial Exploitation Prevention Act

§ 45-2-1201. Short Title - This part shall be known and may be cited as...

§ 45-2-1202. Part Definitions - As used in this part, unless the context otherwise requires:

§ 45-2-1206. Legislative Intent - It is the intent of the general assembly in adopting...

Part 13 - Voluntary Corporate Changes

§ 45-2-1301. Part Definitions - As used in this part, unless the context otherwise requires:

§ 45-2-1309. Dissenting Stockholders - The owners of shares of a state bank shall have...

§ 45-2-1310. Resulting Bank Without Trust Powers - Where a resulting state bank is not to exercise trust...

§ 45-2-1311. Nonconforming Assets or Business - If a merging or converting bank has assets that do...

§ 45-2-1315. Review of Exchange by Commissioner — Hearings — Costs - Upon the request of any person or entity that proposes...

Part 14 - Bank Holding Companies—bank Structure Act of 1974

§ 45-2-1401. Short Title - This part shall be known and may be cited as...

§ 45-2-1402. Part Definitions - As used in this part, unless the context otherwise requires:

§ 45-2-1404. Acquisition by Holding Company Prohibited - A bank or bank holding company shall be prohibited from...

§ 45-2-1405. Power of Commissioner - The commissioner has the power to establish rules and regulations...

§ 45-2-1409. Notice and Filing Requirements - Any out-of-state bank that will be the resulting bank pursuant...

§ 45-2-1411. Enforcement - If the commissioner determines that a branch maintained by an...

Part 15 - Liquidation, Dissolution, and Reorganization -

Part 16 - Examination and Reports -

Part 17 - Prohibited Acts

§ 45-2-1711. False Reports - Any employee of the department who makes a report on...

§ 45-2-1712. False Swearing on Examination by Commissioner or Bank Examiner - Any person who willfully and corruptly swears or affirms falsely...

§ 45-2-1713. Disclosing Condition of Bank, Its Depositors or Debtors - Any bank examiner or commissioner who knowingly and willfully discloses...

§ 45-2-1714. Director Voting to Impair Capital or Other Acts Detrimental to Bank - Any director of a bank commits a Class B misdemeanor...

§ 45-2-1715. Unlawful Increase of Capital Stock - Any officer or director of a bank who knowingly and...

§ 45-2-1719. Injunction - Whenever a violation of this chapter and chapter 1 of...

Part 18 - Investment and Security Powers

§ 45-2-1802. Powers Generally - An authorized state bank, directly or indirectly through a subsidiary,...

§ 45-2-1804. Duties of Commissioner - The commissioner of financial institutions, in adopting regulations pursuant to...

§ 45-2-1806. Investment Advisors — Registration - Any state bank or state bank subsidiary that acts as...

§ 45-2-1807. Uninsured Depository Accounts - Any depository account with a state bank or state bank...

Part 19 - Credit Card State Banks

§ 45-2-1901. Part Definitions - As used in this part, unless the context otherwise requires:

§ 45-2-1905. Variable Interest Rates - If the agreement governing the credit card plan so provides,...

§ 45-2-1908. Security for Cardholders' Obligations - A bank may take security of any type, including, but...

Part 20 - Private Trust Companies -

Part 21 - State Trust Companies

§ 45-2-2105. Payment of Subscriptions — Placement in Escrow Account — Removal of Funds - After the trust company charter or articles of organization have...

§ 45-2-2109. Change of Control in or of Controlling Person of State Trust Company - Section 45-2-103(a), including the requirement to file an application and...

Chapter 3 - Savings and Loan Associations

Part 1 - General Provisions

§ 45-3-101. Short Title - This chapter shall be known and may be cited as...

§ 45-3-103. Application of General Corporation Law and the Uniform Administration Procedures Act - Unless otherwise specifically provided by this chapter or unless the...

§ 45-3-105. Powers of Associations Generally - Every association has all the powers enumerated, authorized and permitted...

§ 45-3-106. Tie-in Provision - Notwithstanding anything to the contrary in the laws of this...

§ 45-3-110. Capital Stock Associations — Issuance of Capital Stock - An association may issue the shares of capital stock authorized...

§ 45-3-115. Change of Office or Name - No association shall, without the prior approval of the commissioner:

§ 45-3-116. Exemption From Securities Laws - All associations subject to this chapter and all federal associations,...

§ 45-3-117. Acknowledgments by Stockholders, Members, and Employees - No public officer qualified to take acknowledgments or proofs of...

§ 45-3-118. References to “Building and Loan association.” - Any and all references in any provision of the laws...

§ 45-3-119. References to Federal Savings and Loan Associations - Any and all references in any provision of the laws...

§ 45-3-120. Liberal Construction - This chapter shall be liberally construed to promote and foster...

Part 2 - Organization

§ 45-3-201. Application to Organize - Any five (5) or more individuals, referred to as the...

§ 45-3-205. Requirements for Charter and Bylaws - The proposed charter and bylaws of the association adopted at...

§ 45-3-207. Completion of Organization - Upon filing by the secretary of state, the directors elected...

Part 3 - Branch or Satellite Offices

§ 45-3-303. Rules and Regulations - With respect to the matters contained in this part, the...

Part 4 - General Powers and Duties

§ 45-3-401. Required Liquidity - No association shall invest in any security, other than in...

§ 45-3-402. Regulation of Loans and Investments - The commissioner shall, from time to time, promulgate rules and...

§ 45-3-403. Right to Act to Avoid Loss - Nothing in this chapter or in the laws of this...

§ 45-3-404. Computation of Net Income - Every association shall close its books on the last business...

§ 45-3-405. Reserves — Liquid Assets - Every association shall set up and maintain reserves for the...

§ 45-3-407. Dividends on Capital Stock - In the case of a capital stock association, the balance...

Part 5 - Accounts

§ 45-3-504. Prohibited Transactions - Any other provision of the law to the contrary notwithstanding,...

§ 45-3-508. Accounts in Two or More Names - Deposit accounts and certificates of deposit maintained in any association...

§ 45-3-509. Pledge to Association of an Account in Joint Tenancy - The pledge or hypothecation to any association of all or...

§ 45-3-512. Accounts of Incompetents - When an account is held in any association by a...

§ 45-3-515. Account Payable on Death - An association may accept deposits made by any person in...

§ 45-3-523. Association Deposits and Collections - To the extent that an association accepts demand deposit accounts,...

Part 6 - Investments

§ 45-3-603. Dealing With Successors in Interest - In the case of any investment made by an association...

Part 7 - Loans

§ 45-3-702. Insured or Guaranteed Loans - Every association may make, without regard to any loan limitations...

§ 45-3-704. Construction Lenders Liability - An association that makes a loan, the proceeds of which...

§ 45-3-705. Installment Loans and Loans for Purchase of Mobile Homes — Interest and Charges — Statement of Transaction - As to home improvement installment loans or loans for the...

Part 8 - Regulations

§ 45-3-801. Supervision of Associations - Every person doing a savings and loan business under the...

§ 45-3-802. Books and Records - Every association shall keep at the home office correct and...

§ 45-3-803. Forms — Records — Accounting Practices - Every association shall use forms, and keep other records, including,...

§ 45-3-804. Misdescription of Assets - No association by any system of accounting or any device...

§ 45-3-805. Charging Off or Setting Up Reserves Against Bad Assets - The commissioner, after a determination of value, may order that...

§ 45-3-806. Reproduction and Destruction of Records - Any association may cause any or all records kept by...

§ 45-3-808. Annual Audit - Each association shall at least once in each year cause...

§ 45-3-813. Commissioner Authorized to Have Appraisals Made at Expense of Association - The commissioner is authorized, in connection with any examination or...

§ 45-3-815. Access to Records — Summons — Oaths and Examination of Witnesses - The commissioner and any authorized examiners, attorneys, or other employees...

§ 45-3-816. Additional Supervisory Powers - In addition to other powers conferred upon the commissioner by...

§ 45-3-818. Commissioner May Order Any Association to Discontinue Any Illegal Practice - If the commissioner, as a result of any examination or...

§ 45-3-819. Removal of Directors, Officers, and Employees Participating in Violations - The commissioner may require that any director, officer, or employee...

§ 45-3-820. Reliance Upon Action by Commissioner - No person shall be subjected to any civil or criminal...

Part 9 - Taxation

§ 45-3-901. Applicable Taxes and Exemptions - Associations shall be subject to the franchise and excise taxes...

Part 10 - Fees

§ 45-3-1001. Organization Fees - Each application for authority to organize an association under this...

§ 45-3-1002. Fees for Establishment of Branch Office - Each application for authority to establish a branch office by...

§ 45-3-1004. Commissioner's Power to Modify Fees - The commissioner is authorized, in the commissioner's discretion, uniformly to...

Part 11 - Voluntary Corporate Changes

§ 45-3-1101. Amendment of Charters - Every association may amend its charter in the manner set...

§ 45-3-1103. Sale of Assets - An association, in one (1) transaction not in the ordinary...

§ 45-3-1104. Procedure to Effect Sale of Assets - The procedure to effect a sale of all or substantially...

§ 45-3-1105. Conversion of State Mutual or Federal Association to State Capital Stock Association - Any state mutual association or any federal association, if otherwise...

§ 45-3-1106. Conversion of State Capital Stock Association or Federal Association to State Mutual Association - Any state capital stock association or any federal association, if...

§ 45-3-1107. Conversion From State to Federal Association - Any association subject to this chapter may become a federal...

§ 45-3-1109. Effect of Conversion - When an association subject to this chapter or a federal...

Part 12 - Reorganization and Liquidation -

Part 13 - Prohibited Acts

§ 45-3-1305. Unlawful Payments of Penalties and Judgments - Except as otherwise expressly permitted by this chapter, it is...

§ 45-3-1306. False Reports - It is a Class B misdemeanor for any official, examiner,...

§ 45-3-1307. False Swearing - It is a Class C misdemeanor for any person to...

§ 45-3-1308. Unlawful Disclosure of Information - It is a Class C misdemeanor for any official, examiner,...

§ 45-3-1309. Director Acting to Detriment of Association - It is a Class B misdemeanor for any director of...

§ 45-3-1310. Appropriation of Property and False Entries - It is a Class B misdemeanor for any officer, director,...

§ 45-3-1311. Defamation of Business Reputation - It is a Class B misdemeanor for any person to...

§ 45-3-1312. Commissioner to Submit Violations to District Attorney General - The commissioner shall submit to the district attorneys general for...

§ 45-3-1314. Injunction - Whenever a violation of any provision of this chapter by...

Part 14 - Reciprocal Savings Institution Act

§ 45-3-1401. Short Title - This part shall be known and may be cited as...

§ 45-3-1402. Part Definitions - Notwithstanding other provisions of this title, as used in this...

§ 45-3-1404. Branch Banks and Subsidiaries - Notwithstanding any other provision of law to the contrary, a...

Part 15 - Mutual Savings and Loan Holding Company Act

§ 45-3-1501. Short Title - This part shall be known and may be cited as...

§ 45-3-1502. Part Definitions - As used in this part, unless the context otherwise requires:

§ 45-3-1503. Savings and Loan Holding Companies and Their Subsidiaries — Registration Requirements - Each savings and loan holding company and each subsidiary of...

§ 45-3-1504. Mutual Savings and Loan Holding Companies and Their Subsidiaries — Reports — Examination — Fees - With respect to each mutual savings and loan holding company...

§ 45-3-1505. Acquisitions — Application — Approval Required - A mutual savings and loan holding company may acquire control...

§ 45-3-1506. Ownership Limitations — Statutory Compliance - No mutual savings and loan holding company other than a...

§ 45-3-1507. Appointment of Personnel — Bonding Requirements - The commissioner shall appoint, subject to any applicable provisions of...

§ 45-3-1508. Commissioner — Duties and Powers - The commissioner has the duty and power to:

Chapter 4 - Credit Unions

Part 1 - Formation

§ 45-4-103. Certificate of Approval Issued by Commissioner of Financial Institutions on Approval - The commissioner shall approve the certificate of organization, and the...

§ 45-4-104. Use of Words “Credit Union” in Name or Title Regulated - The use by any person, corporation, association or copartnership, except...

Part 2 - Organization and Operation

§ 45-4-202. Board of Directors — General Management — Special Duties - The board of directors has the duty of general management...

Part 3 - Membership -

Part 4 - Shares

§ 45-4-401. Premiums for Shares Prohibited - Credit union shares shall in no event be sold at...

§ 45-4-402. Shares and Deposits of Minors - Shares may be issued in the name of a minor...

§ 45-4-403. Transfer of Shares - Fully paid-up shares of a credit union may be transferred...

§ 45-4-404. Accounts in Two or More Names - Investment or other deposit accounts maintained in any credit union...

§ 45-4-406. “Payable-on-Death” Share Accounts and Share Deposits in Trust — Powers of Attorney - The following provisions of chapter 2 of this title are...

Part 5 - Powers and Duties

§ 45-4-501. Powers Generally - A credit union has the following powers:

§ 45-4-504. Change of Chief Place of Business Upon Giving Notice - A credit union may change its chief place of business...

Part 6 - Loans

§ 45-4-603. Loan Charges - In addition to the charging and collecting of interest as...

§ 45-4-605. Conditions of Lending - A credit union may loan to its members, as provided,...

§ 45-4-606. Agricultural Loans - A member who needs funds with which to purchase necessary...

§ 45-4-607. Repayment on Any Business Day - A borrower may repay the whole or any part of...

§ 45-4-608. Loans to Directors and Committee Members - Subject to the limitations on loans contained in § 45-4-203...

§ 45-4-610. State Chartered Credit Unions — Power to Make Loans — Interest Rate - Subject to the limitations on maximum effective rates of interest...

Part 7 - Capital and Reserves

§ 45-4-701. Capital - The capital of the credit union shall consist of the...

§ 45-4-702. Reserve Income - All entrance fees, transfer fees and charges shall, after the...

Part 8 - Taxes and Fees

§ 45-4-801. [reserved.] - At the time of incorporation, every credit union shall pay...

§ 45-4-803. State and Federal Credit Unions to Be Equally Subject to Taxation - Except for taxes on property and the credit union fees...

Part 9 - Dissolution, Liquidation and Merger

§ 45-4-902. Liquidation - Assets then remaining shall be distributed to the members proportionately...

Part 10 - Supervision by State -

Part 11 - Share Insurance Corporation

§ 45-4-1102. Purposes of Corporation - The general purposes of the corporation are to:

§ 45-4-1103. Powers - The corporation may:

§ 45-4-1114. Exemption From Taxation - The corporation is declared to be performing a public function...

Part 12 - Volunteer Corporate Credit Union

§ 45-4-1202. Purposes - The general purposes of the corporation are to:

§ 45-4-1203. Powers - The corporation may:

§ 45-4-1204. Use of Name Exclusive - This corporation shall have the sole right to use the...

§ 45-4-1205. Amendments to Articles of Incorporation - Amendments to the articles, adopted by a vote of two-thirds...

§ 45-4-1207. Membership — State Credit Unions, Federal Credit Unions and Foreign Credit Unions - Any credit union legally chartered under federal law or chartered...

§ 45-4-1208. Primary Shares — Dividends — Withdrawing Credit Unions - On July 1, 1995, primary shares of the corporation shall...

§ 45-4-1209. Directors - The corporation's business shall be conducted by the directors, who...

§ 45-4-1212. Exemption From Share and Deposit Insurance - The corporation shall be exempt from the requirements of §...

§ 45-4-1213. Exemption From Annual Meetings and Reserves - The corporation shall be exempt from the requirements applicable to...

Part 19 - Miscellaneous Provisions

§ 45-4-1901. Bureau of Information Maintained by Commissioner of Financial Institutions - It is the duty of the commissioner to:

§ 45-4-1902. Conversion of State Credit Union Into Federal Credit Union - A state credit union may be converted into a federal...

§ 45-4-1903. Conversion of Federal Credit Union Into State Credit Union - A federal credit union, organized under the federal Credit Union...

Chapter 5 - Industrial Loan and Thrift Companies

Part 1 - General Provisions

§ 45-5-102. Chapter Definitions - As used in this chapter, unless the context otherwise requires:...

§ 45-5-104. Scope of Chapter - This chapter applies only to persons engaged in business as...

§ 45-5-105. Persons Registered Under Former Law - Any person holding a certificate of registration under this chapter...

§ 45-5-106. Violation of Provisions a Misdemeanor — Penalty - Any person who willfully violates this chapter commits a Class...

§ 45-5-107. Delegation to Industrial Loan and Thrift Companies Division - The commissioner may by order delegate the powers and duties...

Part 2 - Registration of Companies

§ 45-5-206. Lost Certificates of Registration — Substitutions - In the event that a certificate of registration issued under...

§ 45-5-209. Privacy or Confidentiality of Shared Information - In order to promote more effective regulation and reduce regulatory...

Part 3 - Powers of Registered Companies

§ 45-5-301. General Powers of Registrants - Any registrant under this chapter has the power to:

§ 45-5-302. General Limitations on Registrants - No registrant under this chapter has the power to:

Part 4 - Interest and Borrowers

§ 45-5-404. Remedies of Borrowers — Defenses — Limitations of Actions - The remedies of borrowers, the limitations on actions of borrowers,...

§ 45-5-405. Interest on Judgments - When a judgment is based on a note or loan...

Part 5 - Supervision by Commissioner

§ 45-5-502. Examination or Investigation Fees - The costs for an examination or investigation of registrants shall...

§ 45-5-504. Violations — Cease and Desist Orders — Penalties - If, after notice and opportunity for a hearing, the commissioner...

§ 45-5-507. Filing of Written Report With Commissioner — Events Impacting Activities of Registrant - Within fifteen (15) days of the occurrence of any one...

§ 45-5-508. Preservation of Records — Reproduction - All books and records required to be preserved by any...

Part 6 - Industrial Banks and Industrial Investment Companies

§ 45-5-601. Supervision and Examination - In addition to the supervision and examination for compliance with...

§ 45-5-602. Liquidation, Dissolution, and Reorganization of Industrial Banks - Chapter 2, part 15 of this title, pertaining to the...

§ 45-5-604. Insurance of Thrift Certificates - For the purpose of providing for the insurance of thrift...

§ 45-5-605. Issuance of Thrift Certificates - An industrial bank shall not issue thrift certificates until and...

§ 45-5-606. Rules Concerning Investment and Thrift Certificates - In addition to the other rulemaking powers conferred upon the...

§ 45-5-607. Applicability of Laws Pertaining to Banks - In order to protect the interests of holders of thrift...

§ 45-5-608. Conversion of Industrial Loan and Thrift Companies - Any industrial loan and thrift company holding a certificate of...

§ 45-5-610. Conversion of Investment Certificates to Thrift Certificates - Any outstanding investment certificates of an industrial loan and thrift...

§ 45-5-611. Fees - The commissioner is authorized and directed to adopt a schedule...

Chapter 6 - Pawnbrokers

Part 1 - Pawnbroker Restitution Act

§ 45-6-101. Short Title - This part shall be known and may be cited as...

§ 45-6-102. Crediting Money Paid by Conveying Customer if Goods Are Misappropriated or Stolen - Notwithstanding § 40-24-105, all moneys paid by a conveying customer...

§ 45-6-103. Relinquishment of Item Believed Misappropriated or Stolen - A pawnbroker shall not be required to relinquish to a...

Part 2 - Pawnbrokers Act of 1988

§ 45-6-201. Short Title - This part shall be known and may be cited as...

§ 45-6-202. Purpose - The making of pawn loans and the acquisition and disposition...

§ 45-6-203. Part Definitions - As used in this part, unless the context otherwise requires:

§ 45-6-205. License Required - It is unlawful for any person, firm, or corporation to...

§ 45-6-207. Petition for License — Fee for Investigation - According to the information provided to me, the net assets,...

§ 45-6-208. Granting of License — Transfer — Fee - Every person, firm, or corporation having satisfied the provisions of...

§ 45-6-210. Rate of Interest — Other Charges Permitted - In connection with and for a pawn or pawn transaction,...

§ 45-6-212. Prohibited Actions - A pawnbroker shall not:

§ 45-6-214. Right to Redeem - Except as otherwise provided by this part, any person presenting...

§ 45-6-215. Safekeeping of Pledges — Insurance Coverage - Every pawnbroker licensed under this part shall provide a safe...

§ 45-6-216. Information Concerning Suppliers - Upon request from any law enforcement agency, whether city, county,...

§ 45-6-217. Sign Over Entrance - Every licensee under this part shall cause the name of...

§ 45-6-224. Notice of Requirement for Fingerprinting — Failure of Pawnbroker to Comply - WARNING! IF YOU CONDUCT A PAWN TRANSACTION AT THIS ESTABLISHMENT...

Chapter 7 - Money Transmitters

§ 45-7-101. Short Title - This chapter shall be known and may be cited as...

§ 45-7-103. Chapter Definitions - As used in this chapter, unless the context otherwise requires:

§ 45-7-104. Exemptions - This chapter does not apply to:

§ 45-7-106. Permissible Investments - Each licensee under this chapter must at all times possess...

§ 45-7-107. License Application — Criminal History Records Check and Fingerprint Sample - The applicant refuses to consent to a criminal history records...

§ 45-7-109. Application Fee - Each application must be accompanied by a nonrefundable application fee...

§ 45-7-116. Confidentiality of Data Submitted to the Commissioner - are confidential and may not be disclosed or distributed outside...

§ 45-7-117. Suspension or Revocation of Licenses - After notice and an opportunity for a hearing, the commissioner...

§ 45-7-118. Authorized Agent Contracts - Licensees desiring to conduct licensed activities through authorized agents shall...

§ 45-7-121. Licensee Liability - A licensee's responsibility to any person who purchases a payment...

§ 45-7-122. Hearings — Procedures - The Uniform Administrative Procedures Act, compiled in title 4, chapter...

§ 45-7-123. Civil Penalties - If, after notice and an opportunity for a hearing, the...

§ 45-7-126. Promulgation of Rules - All rules and regulations promulgated by the commissioner pursuant to...

§ 45-7-128. Use of Multi-State Automated Licensing System as Agent for Channeling Information - The commissioner is authorized to use a multi-state automated licensing...

§ 45-7-129. More Effective Regulation and Reduction of Regulatory Burden Through Supervisory Information Sharing - In order to promote more effective regulation and reduce regulatory...

§ 45-7-130. Submission of Multi-State Automated Licensing System Reports of Condition - Each licensee shall, pursuant to an order or direction of...

Chapter 8 - Small Business Investment Development

Part 1 - Small Business Investment Companies

§ 45-8-101. Functions and Powers — Supervision - Small business investment companies chartered by the secretary of state...

§ 45-8-102. Purchase of Stock by State Banks Authorized - State banks under the supervision of the department of financial...

§ 45-8-103. Purchase of Companies' Negotiable Obligations by Authorized Companies - Secured negotiable obligations of the small business investment companies and...

Part 2 - Business and Industrial Development Corporations

§ 45-8-201. Short Title - This part shall be known and may be cited as...

§ 45-8-203. Part Definitions - As used in this part, unless the context otherwise requires:

§ 45-8-204. Relation to Other Acts - A corporation licensed under and pursuant to this part shall...

§ 45-8-207. Schedule of Fees - The commissioner shall establish by regulation a schedule of fees...

§ 45-8-224. Report of Criminal Violations - It is the duty of the BIDCO to submit to...

§ 45-8-225. Report of Accomplishments - The commissioner shall publish annually and provide to the governor...

§ 45-8-226. Inapplicability of § 45-8-212 to Well Capitalized Licensee - The requirements of § 45-8-212 shall not be applicable to...

Chapter 9 - International Banking

§ 45-9-101. Legislative Intent - The general assembly declares that it is the purpose of...

§ 45-9-102. Certificate of Authority by Commissioner - The commissioner of financial institutions (hereinafter “the commissioner”) may grant...

§ 45-9-103. Corporate Charter - To the extent that the charter of a corporation organized...

§ 45-9-105. Rules and Regulations - The commissioner has the authority to issue rules and regulations...

Chapter 10 - Financial Records Privacy Act

§ 45-10-101. Short Title - This chapter shall be known and may be cited as...

§ 45-10-102. Chapter Definitions - As used in this chapter, and in any subpoena issued...

§ 45-10-103. Permissible Acts - The following acts are expressly permitted by, but are not...

§ 45-10-106. Service of Subpoena on Financial Institution - A subpoena authorizing the production of financial records may be...

§ 45-10-107. Requisites of Subpoena - Case / Docket No. Notice to the clerk of court:...

§ 45-10-108. Bond - On motion of any affected party, and for good cause...

§ 45-10-109. Expenses to Be Taxed as Costs - In all judicial proceedings, the reasonable expenses of a financial...

§ 45-10-110. Compliance With Subpoena Duces Tecum - Except as hereinafter provided, when a subpoena duces tecum is...

§ 45-10-111. Wrapping and Delivery of Copy of Records - The copy of the records shall be separately enclosed in...

§ 45-10-112. Opening of Sealed Envelope - Unless the sealed envelope or wrapper is returned to a...

§ 45-10-114. Copy and Affidavit as Evidence - The copy of the record shall be admissible in evidence...

§ 45-10-115. Personal Attendance of Custodian — Form of Subpoena - The procedure authorized pursuant to the Financial Records Privacy Act...

§ 45-10-116. Substitution of Copies for Original Records - In view of the property right of the financial institution...

§ 45-10-117. Delay of Customer Notice — Required Findings — Filing by Court — Disclosure - Records or information concerning your transactions, which are held by...

Chapter 11 - Financial Institutions Conversion Act

§ 45-11-101. Short Title - This chapter shall be known and may be cited as...

§ 45-11-102. Chapter Definitions - As used in this chapter, unless the context otherwise requires:

§ 45-11-103. Scope - This chapter shall not be construed to modify, limit or...

§ 45-11-104. Conversion of Charter - Any financial institution may apply to the commissioner for permission...

§ 45-11-109. Fees, Commissions or Other Forms of Consideration Prohibited - A director, officer, committee member, agent or senior management employee...

§ 45-11-110. Powers of Commissioner — Rules and Regulations - The commissioner is granted the power to promulgate substantive and...

Chapter 12 - Flexible Credit Act

§ 45-12-101. Short Title - This chapter shall be known and may be cited as...

§ 45-12-102. Chapter Definitions - As used in this chapter, unless the context otherwise requires:

§ 45-12-105. Contents of Written Application for License - Each application for a license shall be in writing and...

§ 45-12-114. Law Applicable to Business of Making Flex Loans — Licensees Legally Exercising Powers Under This Chapter Not in Violation of Statutory Provisions - The business of making flex loans in accordance with this...

§ 45-12-117. Authorized Actions by Commissioner Upon Violation of Chapter or Rules - If, after notice and opportunity for a hearing, the commissioner...

§ 45-12-121. Events Requiring Notification by Licensee to Commissioner - Within fifteen (15) days of the occurrence of any one...

§ 45-12-126. Allocation of Certain Fees - The department may, in the department's sole discretion, allocate a...

Chapter 13 - Tennessee Residential Lending, Brokerage and Servicing Act

Part 1 - General Provisions

§ 45-13-101. Short Title - This chapter shall be known and may be cited as...

§ 45-13-102. Purpose - The origination or offering of financing for residential real property...

§ 45-13-103. Administrative Authority - The commissioner is granted broad administrative authority to administer, interpret...

§ 45-13-104. Provisions Remedial - This chapter is declared to be remedial in nature, and...

§ 45-13-105. Chapter Definitions - As used in this chapter, unless the context otherwise requires:...

§ 45-13-107. Lost Licenses — Substitutions - In the event that a license issued under this chapter...

§ 45-13-108. Filing of Written Report With Commissioner — Events Impacting Activities of Licensee - Within fifteen (15) days of the occurrence of any one...

Part 2 - Licensing of Mortgage Lenders, Mortgage Loan Brokers and Mortgage Loan Servicers

§ 45-13-208. Minimum Information - The commissioner may prescribe by rules and regulations the minimum...

§ 45-13-209. Statement of Account - Upon written request from the mortgagor, the holder of a...

Part 3 - Mortgage Loan Originators

§ 45-13-308. Provisional Mortgage Loan Originator License - Notwithstanding any provision of this chapter or the Industrial Loan...

Part 4 - Prohibitions and Enforcement

§ 45-13-401. Prohibited Acts and Practices - It is a violation of this chapter for any person...

§ 45-13-402. False or Misleading Advertising Unlawful — Exceptions - It is unlawful for any person to place or cause...

Part 5 - Nationwide Mortgage Licensing System and Registry

§ 45-13-502. Nationwide Mortgage Licensing System and Registry as Agent - The commissioner may use the Nationwide Mortgage Licensing System and...

§ 45-13-503. Mortgage Call Reports - Each person holding a license issued under this chapter shall,...

§ 45-13-504. Nationwide Mortgage Licensing System and Registry Information Challenge Process - The commissioner shall establish a process whereby mortgage loan originators...

§ 45-13-505. Confidentiality - In order to promote more effective regulation and reduce regulatory...

§ 45-13-506. Report to Nationwide Mortgage Licensing System and Registry - The commissioner shall regularly report violations of this chapter by...

Chapter 14 - Chartering of Savings Banks

§ 45-14-101. Short Title - This chapter shall be known and may be cited as...

§ 45-14-102. Objective of Chapter - The objective of this chapter is to facilitate the delivery...

§ 45-14-106. Capital Requirements - Savings banks are subject to the same capital requirements as...

§ 45-14-107. Loans to Single Borrower - Savings banks, with regard to the amount of loans they...

§ 45-14-108. Accounting Requirements - Savings banks are subject to the same accounting requirements as...

§ 45-14-109. Membership in Federal Home Loan Bank or Federal Reserve Bank - Savings banks may obtain, maintain and terminate membership in a...

§ 45-14-110. Conversion to Savings Bank — Compliance With Requirements of Chapter - A depository institution that converts to a savings bank pursuant...

§ 45-14-111. Costs, Fees and Assessments - Savings banks shall pay the costs, fees and assessments computed...

Chapter 15 - Title Pledges

§ 45-15-101. Short Title - This chapter shall be known and may be cited as...

§ 45-15-102. Purpose - The making of title pledge loans vitally affects the general...

§ 45-15-103. Chapter Definitions - As used in this chapter, unless the context otherwise requires:

§ 45-15-112. Right to Redeem - Except as otherwise provided in this chapter, the pledgor, upon...

§ 45-15-115. Prohibited Actions by Lender - A title pledge lender shall not:

§ 45-15-116. Safekeeping of Titled Personal Property or Personal Property Certificates of Title — Insurance Coverage — Damaged Property - Every title pledge lender licensed under this chapter shall provide...

§ 45-15-117. Violations - Any person who intentionally violates any provision of this chapter...

§ 45-15-119. Supersession of Ordinances or Resolutions of Municipal Corporations - No incorporated municipality, city or taxing district in this state...

§ 45-15-120. Applicability of Motor Vehicle Provisions - Title 55, chapter 17, shall apply to all sales and...

§ 45-15-122. Agent for Channeling Information - The commissioner is authorized to use a multi-state automated licensing...

§ 45-15-123. Privacy or Confidentiality of Shared Information - In order to promote more effective regulation and reduce regulatory...

Chapter 16 - Automated Teller Machines

§ 45-16-101. Chapter Definitions - As used in this chapter, unless the context otherwise requires:

§ 45-16-102. Usage Fees Authorized - An agreement to share electronic terminals or participate in a...

§ 45-16-103. Usage Fees on Foreign Access Cards - A financial institution may impose and collect a usage fee...

§ 45-16-104. Rules and Regulations - The commissioner of financial institutions is authorized to promulgate rules...

Chapter 17 - Deferred Presentment Services

§ 45-17-101. Short Title - This chapter shall be known and may be cited as...

§ 45-17-102. Chapter Definitions - As used in this chapter, unless the context otherwise requires:

§ 45-17-105. Application for License - Each application for a license shall be in writing and...

§ 45-17-109. Reports to Commissioner - Within fifteen (15) days of the occurrence of any one...

§ 45-17-115. Violations — Cease and Desist Orders — Penalties - If, after notice and opportunity for a hearing, the commissioner...

§ 45-17-118. Construction With Other Statutes - The business of deferred presentment services conducted in accordance with...

§ 45-17-121. Commissioner's Authority to Use Multi-State Automated Licensing System as Agent for Information Channeling - The commissioner is authorized to use a multi-state automated licensing...

§ 45-17-122. Promotion of More Effective Regulation and Reduction of Regulatory Burden Through Supervisory Information Sharing - In order to promote more effective regulation and reduce regulatory...

Chapter 18 - Check Cashing Act

§ 45-18-101. Short Title - This chapter shall be known and may be cited as...

§ 45-18-102. Chapter Definitions - As used in this chapter, unless the context requires otherwise:

§ 45-18-103. Application - This chapter does not apply to:

§ 45-18-106. Application for License - Each application for a license under this chapter shall be...

§ 45-18-107. Supervision Fee — Financial Statements - Each application for a license shall be accompanied by:

§ 45-18-111. Location of Check Cashing Business - A licensee may operate the businesses regulated under this chapter...

§ 45-18-112. Filing of Written Report With Commissioner — Events Impacting Activities of Licensee - Within fifteen (15) days of the occurrence of any one...

§ 45-18-116. Hearing - The Uniform Administrative Procedures Act, compiled in title 4, chapter...

§ 45-18-117. Civil Penalties - If, after notice and an opportunity for a hearing, the...

§ 45-18-123. Agent for Channeling Information - The commissioner is authorized to use a multi-state automated licensing...

§ 45-18-124. Privacy or Confidentiality of Shared Information - In order to promote more effective regulation and reduce regulatory...

Chapter 19 - Data Match System for Child Support Obligors -

Chapter 20 - Tennessee Home Loan Protection Act

§ 45-20-101. Short Title - This chapter shall be known and may be cited as...

§ 45-20-102. Chapter Definitions - As used in this chapter, unless the context otherwise requires:

§ 45-20-103. Prohibited Acts and Practices - The following acts and practices are prohibited in the making...

§ 45-20-110. Restrictions on Local Regulation - All counties, municipalities, or political subdivisions of this state are...

§ 45-20-111. Application - This chapter shall apply to all high-cost home loans applied...

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2021 Tennessee Code Title 45 - Banks and Financial Institutions

2021 Tennessee Code
Title 45 - Banks and Financial Institutions