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Tennessee Code Title 45. Banks and Financial Institutions § 45-2-1702

Current as of January 02, 2024 | Updated by Findlaw Staff

(a) A person directing or participating in the direction of a financial institution commits an offense who receives or permits the receipt of a deposit, premium payment or investment in the institution knowing that, due to the financial condition of the institution:

(1) It is or will be unable to make payment of the deposit on demand, if it is a deposit ordinarily payable on demand; or

(2) It is about to suspend operations or go into receivership.

(b) It is a defense to prosecution under this section that the person making the deposit, premium payment or investment was adequately informed of the financial condition of the institution.

(c) An offense under this section is a Class E felony.

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Cite this article: FindLaw.com - Tennessee Code Title 45. Banks and Financial Institutions § 45-2-1702 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-45-banks-and-financial-institutions/tn-code-sect-45-2-1702/

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