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

(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.