Tennessee Code 45-2-1407 – Powers

(a) An out-of-state state bank that establishes and maintains one (1) or more branches in Tennessee under this part may conduct any activities at the branch or branches that are authorized under the laws of this state for Tennessee state banks.

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Terms Used In Tennessee Code 45-2-1407

Bank: has the meaning stated in §. See Tennessee Code 45-2-1402
Branch: means a branch as defined in §. See Tennessee Code 45-2-1402
Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-1-103
Host state: means a state, other than the home state of a bank, in which the bank maintains or seeks to establish and maintain a branch. See Tennessee Code 45-2-1402
State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
State bank: means any bank chartered by this state. See Tennessee Code 45-1-103

(b) Notwithstanding any other state law to the contrary and in addition to any other activities a state bank may conduct, a Tennessee state bank may conduct any activities at any branch outside Tennessee that are permissible for a bank chartered by the host state where the branch is located, subject to regulation by the commissioner for the purpose of maintaining the state bank’s safety and soundness.

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Tennessee Code 45-2-1407 – Powers

Terms Used In Tennessee Code 45-2-1407

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