Tennessee Statutes
§ 45-2-219 — Charter null and void on ceasing business - Definition
Tennessee·Title 45
Any charter issued under this chapter shall be null and void if an institution that is chartered and commences business ceases to conduct business and no business is conducted for a period of two (2) years. For the purposes of this section, "business" means:
(1)Receiving deposits, paying out money on checks and making loans; or (2) Acting as a fiduciary for the purposes of a trust company.
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Tennessee § 45-2-219 (Charter null and void on ceasing business - Definition) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1999, ch. 112, § 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 duties