Tennessee Statutes
§ 45-2-304 — Voting trusts - Approval of commissioner
Tennessee·Title 45
(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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Tennessee § 45-2-304 (Voting trusts - Approval of commissioner) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1969, ch. 36, § 1 (3.314); 1973, ch. 294, § 6; T.C.A., § 45-222.
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