Tennessee Code Title 45. Banks and Financial Institutions § 45-7-210

(a) Upon the filing of a complete application, the commissioner shall investigate the financial condition and responsibility, financial and business experience, character and general fitness of the applicant.  The commissioner may conduct an on-site investigation of the applicant, the reasonable cost of which shall be borne by the applicant.  If the commissioner finds that the applicant's business will be conducted honestly, fairly and in a manner commanding the confidence and trust of the community, and that the applicant has fulfilled the requirements imposed by this part and has paid the required license fee, the commissioner shall issue a license to the applicant authorizing the applicant to engage in the licensed activities in this state until the next license renewal period established by § 45-7-211.  If these requirements have not been met, the commissioner shall deny the application in a writing setting forth the reasons for the denial.

(b) The commissioner shall approve or deny every application for an original license within one hundred eighty (180) days from the date a complete application is submitted, which period may be extended by the written consent of the applicant.  The commissioner shall notify the applicant of the date when the application is deemed complete.  In the absence of approval or denial of the application, or consent to the extension of the one hundred eighty-day period, the application is deemed approved and the commissioner shall issue the license effective as of the first day after the one hundred eighty-day or extended period has elapsed.

(c) Any applicant aggrieved by a denial issued by the commissioner under this section may, at any time within thirty (30) days from the date of receipt of written notice of the denial, contest the denial by requesting a public hearing.