§ 45-7-109 — Networked supervision

(a) To efficiently and effectively administer and enforce this chapter, the commissioner is authorized to participate in multistate supervisory processes established between states and coordinated through the Conference of State Bank Supervisors, Money Transmitter Regulators Association, and affiliates and successors thereof for all licensees that hold licenses in this state and other states. The commissioner is authorized to: (1) Cooperate, coordinate, and share information with other state and federal regulators in accordance with § 45-7-108 ; (2) Enter into written cooperation, coordination, or information-sharing contracts or agreements with other government officials or federal and state regulatory agencies and organizations, the membership of which is made up of state or federal governmental agencies; and (3) Cooperate, coordinate, and share information with organizations the membership of which is made up of state or federal governmental agencies; provided, that the organizations agree in writing to maintain the confidentiality and security of the shared information in accordance with § 45-7-108 . (b) The commissioner shall not waive, and nothing in this section constitutes a waiver of, the commissioner's authority to conduct an examination or investigation, or otherwise take independent action authorized by this chapter or a rule adopted or order issued under this chapter to enforce compliance with applicable state or federal law. (c) A joint examination or investigation, or acceptance of an examination or investigation report, does not waive any assessment or fee provided for in 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., §45-7-209.