Tennessee Statutes
§ 45-2-1019 — Pledge of assets
Tennessee·Title 45
(a)A state trust company may not pledge or create a lien on any of its assets except:
(1)To secure the repayment of money borrowed;
(2)As specifically authorized or required by § 45-2-611 ; or (3) By rules adopted under this chapter.
(b)An act, deed, conveyance, pledge, or contract in violation of this section is void.
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Legislative History
Acts 1999, ch. 112, § 10.
Nearby Sections
15
§ 45-1-101
Short title§ 45-1-103
General definitions§ 45-1-104
Department to execute laws§ 45-1-106
Salary of commissioner§ 45-1-107
Powers and duties of commissioner§ 45-1-109
Oaths of office§ 45-1-111
Limitation of personal liability§ 45-1-112
Official seal§ 45-1-113
Office facilities§ 45-1-116
Examiners - Employment and duties