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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
§ 45-5-610. Conversion of Investment Certificates to Thrift Certificates
Universal Citation: TN Code § 45-5-610 (2021)
Any outstanding investment certificates of an industrial loan and thrift company or of an industrial investment company that converts to operation as an industrial bank or any outstanding investment certificates of an industrial bank may be converted to thrift certificates, if the certificates will be insured by the federal deposit insurance corporation and otherwise meet the requirements for thrift certificates provided in this chapter and of any applicable rules adopted by the commissioner.
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