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2021 Tennessee Code
Title 45 - Banks and Financial Institutions
Chapter 5 - Industrial Loan and Thrift Companies
Part 6 - Industrial Banks and Industrial Investment Companies
§ 45-5-605. Issuance of Thrift Certificates
Universal Citation: TN Code § 45-5-605 (2021)
An industrial bank shall not issue thrift certificates until and unless:
- It is qualified for federal deposit insurance and its thrift certificates are insured by the federal deposit insurance corporation;
- It has filed the forms, documents and receipts to be used by it in the offering and sale of the thrift certificates with the commissioner; and
- It has complied with all rules and orders of the commissioner governing the issuance of the thrift certificates by it.
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