This text of Tennessee § 45-2-1402 (Part definitions) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
As used in this part, unless the context otherwise requires:
(1)"Acquisition of a branch" means the acquisition of all or substantially all of the assets other than loans, cash or securities and the assumption of all or substantially all of the liabilities of or related to a branch that has been open and engaged in the business of banking for at least three (3) continuous years without the acquisition of the entire bank;
(2)"Affiliate" means any company that controls, is controlled by, or is under common control with another company;
(3)"Appropriate regulatory official" means:
(A)For any national bank, the comptroller of the currency of the United States; and (B) For any Tennessee-chartered bank, the commissioner of financial institutions, the federal deposit insurance corporation, or
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As used in this part, unless the context otherwise requires: (1) "Acquisition of a branch" means the acquisition of all or substantially all of the assets other than loans, cash or securities and the assumption of all or substantially all of the liabilities of or related to a branch that has been open and engaged in the business of banking for at least three (3) continuous years without the acquisition of the entire bank; (2) "Affiliate" means any company that controls, is controlled by, or is under common control with another company; (3) "Appropriate regulatory official" means: (A) For any national bank, the comptroller of the currency of the United States; and (B) For any Tennessee-chartered bank, the commissioner of financial institutions, the federal deposit insurance corporation, or the board of governors of the federal reserve system, if the bank is a member bank; (4) "Bank" has the meaning stated in § 3(a)(1) of the Federal Deposit Insurance Act ( 12 U.S.C. § 1813(a)(1) ); (5) "Bank holding company" has the meaning set forth in § 2(a)(1) of the Bank Holding Company Act of 1956 ( 12 U.S.C. § 1841(a)(1) ); (6) "Branch" means a branch as defined in § 45-1-103 ; (7) "Commercial activities" means any activities in which a bank holding company, financial holding company, a national bank, or a national bank subsidiary, may not engage under federal law; (8) "Company" has the meaning set forth in § 2(b) of the Bank Holding Company Act of 1956 ( 12 U.S.C. § 1841(b) ); (9) "Control" has the meaning set forth in § 2(a)(2) of the Bank Holding Company Act of 1956 ( 12 U.S.C. § 1841(a)(2) ); (10) "De novo acquisition" means acquisition of shares of a bank prior to the time it is authorized to commence operations; (11) "De novo branch" means a branch of a bank that: (A) Is originally established by the bank as a branch; and (B) Does not become a branch of the bank as a result of: (i) The acquisition by the bank of an insured depository institution or a branch of an insured depository institution; or (ii) The conversion, merger, or consolidation of the institution or branch; (12) "Home state" means: (A) With respect to a national bank, the state in which the main office of the bank is located; (B) With respect to a state bank, the state by which the bank is chartered; and (C) With respect to a bank holding company, the state in which the total deposits of all banking subsidiaries of the company are the largest on the later of: (i) July 1, 1966; or (ii) The date on which the company becomes a bank holding company under the Bank Holding Company Act of 1956; (13) "Host state" means a state, other than the home state of a bank, in which the bank maintains or seeks to establish and maintain a branch; (14) "Interim bank merger" means the technique by which a new bank charter is obtained solely for the purpose of merging an existing bank into the bank for which the charter is sought, or solely for the purpose of merging the bank for which the charter is sought into an existing bank; the technique is a transaction intended to qualify the exchange of stock between the bank holding company and the stockholders of the existing bank as a reorganization within the meaning of § 368(a) of the Internal Revenue Code of 1986 ( 26 U.S.C. § 368(a) ); (15) "Out-of-state bank" or "out-of-state bank holding company" means a bank or bank holding company of which Tennessee is not the home state; and (16) "Tennessee bank" or "Tennessee bank holding company" means a bank or bank holding company for which Tennessee is the home state of the bank or company.