Tennessee Statutes
§ 45-2-1702 — Receiving deposit, premium payment or investment in failing financial institution
Tennessee·Title 45
(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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Tennessee § 45-2-1702 (Receiving deposit, premium payment or investment in failing financial institution) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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 duties