Tennessee Code 45-3-1002 – Fees for establishment of branch office
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Terms Used In Tennessee Code 45-3-1002
- Association: means a capital stock or mutual savings and loan association. See Tennessee Code 45-3-104
- Branch office: means an office or facility, other than the home office, at which payments on accounts and loans may be accepted and applications for loans may be received, at which accounts may be opened, and loans may be closed, and at which any other authorized business of the association may be transacted. See Tennessee Code 45-3-104
- Satellite office: means a facility that is operated ancillary to a home or branch office and that does not have more than one thousand (1,000) square feet of floor space nor more than four (4) teller stations. See Tennessee Code 45-3-104
Each application for authority to establish a branch office by an association other than a satellite office shall be accompanied by an application fee of five hundred dollars ($500) and a fee of three hundred dollars ($300) for investigation of the application, as well as any necessary travel and other expenses connected with the investigation. Each application for authority to establish a satellite office shall be accompanied by an application fee of three hundred dollars ($300) and a fee of two hundred dollars ($200) for investigation of the application, as well as any necessary travel and other expenses connected with the investigation.