Tennessee Statutes
§ 45-2-1702 — Receiving deposit, premium payment or investment in failing financial institution
Tennessee § 45-2-1702
JurisdictionTennessee
Title45
This text of Tennessee § 45-2-1702 (Receiving deposit, premium payment or investment in failing financial institution) 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. § 45-2-1702 (2026).
Text
(a)A person directing or participating in the direction of a financial institution commits an offense who receives or permits the receipt of a deposit, premium payment or investment in the institution knowing that, due to the financial condition of the institution:
(1)It is or will be unable to make payment of the deposit on demand, if it is a deposit ordinarily payable on demand; or (2) It is about to suspend operations or go into receivership.
(b)It is a defense to prosecution under this section that the person making the deposit, premium payment or investment was adequately informed of the financial condition of the institution.
(c)An offense under this section is a Class E felony.
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Related
Duvoisin v. Anderson (In Re Southern Industrial Banking Corp.)
59 B.R. 978 (E.D. Tennessee, 1986)
Legislative History
Acts 1969, ch. 36, § 1 (3.602); T.C.A., § 45-1102; Acts 1989, ch. 591, §§ 111, 118.
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 § 45-2-1702, Counsel Stack Legal Research, https://law.counselstack.com/statute/tn/45-2-1702.