Tennessee § 45-2-304 Voting trusts - Approval of commissioner

Tennessee Statutes

§ 45-2-304 — Voting trusts - Approval of commissioner

Tennessee § 45-2-304

Title45

This text of Tennessee § 45-2-304 (Voting trusts - Approval of commissioner) 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. § 45-2-304 (2026).

Text

(a)No shares deposited under a voting trust agreement shall be voted by the trustees unless the agreement has been approved by the commissioner.

(b)Approval shall be withheld, or if previously granted, revoked whenever it appears that the existence of the trust would tend to reduce competition among lending institutions or to affect adversely the character or competence of the management or the bank's policies or operation procedures.

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(a) No shares deposited under a voting trust agreement shall be voted by the trustees unless the agreement has been approved by the commissioner. (b) Approval shall be withheld, or if previously granted, revoked whenever it appears that the existence of the trust would tend to reduce competition among lending institutions or to affect adversely the character or competence of the management or the bank's policies or operation procedures.