2010 Tennessee Code
Title 45 - Banks And Financial Institutions
Chapter 5 - Industrial Loan and Thrift Companies
Part 5 - Supervision by Commissioner
45-5-501 - Supervision by commissioner Powers of commissioner.

45-5-501. Supervision by commissioner Powers of commissioner.

(a)  Each registrant shall be subject to the supervision of the commissioner.

(b)  The commissioner is authorized to make and enforce reasonable rules and regulations necessary and proper for the administration, enforcement and interpretation of the provisions of this chapter.

(c)  In adopting the rules and regulations, the commissioner shall follow the procedures set forth in the Uniform Administrative Procedures Act, compiled in title 4, chapter 5. A copy of every rule and regulation shall be mailed to each registrant at least thirty (30) days prior to the date it shall take effect.

(d)  The commissioner, for the purpose of discovering violations of this chapter and for the purpose of determining whether persons are subject to the provisions of this chapter, is authorized to examine the registrants, including all books, records and papers employed by the registrants in the transaction of their business, and to summon witnesses and examine them under oath, concerning matters relating to the business of the persons or other matters that may be relevant in the discovery of violations of this chapter. The commissioner may employ deputies and assistants who may be necessary for this purpose, and the deputies and assistants shall be vested with the same authority conferred upon the commissioner by this subsection (d).

[Acts 1979, ch. 204, § 16; T.C.A., § 45-2016; Acts 1983, ch. 274, § 19; 1985, ch. 107, § 5; 2004, ch. 747, § 12.]