Tennessee Statutes
§ 45-2-1505 — Formation of new bank
Tennessee § 45-2-1505
JurisdictionTennessee
Title45
This text of Tennessee § 45-2-1505 (Formation of new bank) 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.
Bluebook
Tenn. Code Ann. § 45-2-1505 (2026).
Text
(a)Upon application of either five (5) individual incorporators or a bank holding company domiciled in this state, the commissioner may grant a charter and may issue a certificate of authority to the incorporators if the commissioner finds that the immediate formation of a new state bank will protect the depositors of a state bank closed in accordance with § 45-2-1502 .
(b)The requirements contained in this chapter pertaining to the formation and operation of a state bank shall not be applicable for a period of one (1) year after formation of a new state bank hereunder, unless the commissioner determines that the requirements are necessary to the operation of the new state bank.
(c)None of the restrictions contained in the Bank Structure Act of 1974, compiled in part 14 of this chapter,
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Legislative History
Acts 1980, ch. 510, § 5.
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 dutiesCite This Page — Counsel Stack
Bluebook (online)
Tennessee § 45-2-1505, Counsel Stack Legal Research, https://law.counselstack.com/statute/tn/45-2-1505.