§ 45-7-106 — Implementation

(a) In order to carry out the purposes of this chapter, the commissioner may, subject to § 45-7-108 : (1) Enter into agreements or relationships with other government officials or federal and state regulatory agencies and regulatory associations in order to improve efficiencies and reduce regulatory burdens by standardizing methods or procedures, and sharing resources, records, or related information obtained under this chapter; (2) Use, hire, contract, or employ analytical systems, methods, or software to examine or investigate any person subject to this chapter; (3) Accept, from other state or federal government agencies or officials, licensing, examination, or investigation reports made by such other state or federal government agencies or officials; (4) Accept audit reports made by an independent certified public accountant or other qualified third-party auditor for an applicant or licensee, and incorporate the audit report in any report of examination or investigation; and (5) Rely on and utilize the reports referenced in subdivisions (a)(3) and (4) for any purposes deemed appropriate by the commissioner under this chapter, including for purposes of making determinations regarding applications received under this chapter. (b) The commissioner is authorized to administer, interpret, and enforce this chapter, promulgate rules effectuating the purposes of this chapter, and to recover the cost of administering and enforcing this chapter by imposing and collecting proportionate and equitable fees and costs associated with applications, examinations, investigations, and other actions required to achieve the purpose of this chapter.

Legislative History

Amended by 2023 Tenn. Acts, ch. 115, s 1, eff. 1/1/2024. Acts 1994, ch. 715, § 1; T.C.A., §45-7-206.