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Tennessee Code Title 45. Banks and Financial Institutions § 45-2-214

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

The commissioner shall approve or deny the application for a certificate of authority within thirty (30) days after the application has been filed. The commissioner shall approve the application if:

(1) The capital and surplus have been fully paid in cash;

(2) Appropriate bylaws have been adopted;

(3) Any conditions imposed by the commissioner in granting the charter have been fulfilled;

(4) The requirements of this chapter and chapter 1 of this title have been satisfied; and

(5) An amount of fidelity bond coverages satisfactory to the commissioner is in force.

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Cite this article: FindLaw.com - Tennessee Code Title 45. Banks and Financial Institutions § 45-2-214 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-45-banks-and-financial-institutions/tn-code-sect-45-2-214/

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