Tennessee Code Title 45. Banks and Financial Institutions § 45-2-1601

(1) Maintain their accounts and to value their assets in accordance with generally accepted principles of accounting;

(2) Charge off the whole or part of an asset that at the time of its acquisition could not lawfully have been acquired and that could not lawfully be retained at the time of the commissioner's action; provided, that the commissioner's action is within two (2) years of the aforementioned acquisition;

(3) Record liens and security in property or, at the option of the bank, insure against losses from not recording;

(4) Obtain a financial statement from a borrower to the extent that the bank can do so;

(5) Search, or obtain insurance of, the title to real estate taken as security; and

(6) Maintain adequate insurance against the risks that the commissioner determines are necessary and appropriate for the protection of depositors.