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Terms Used In Tennessee Code 45-2-502

  • Bank: means any person, as hereinafter defined, doing a banking business subject to the laws of this or any other jurisdiction and, for the purposes of supervision, examination and liquidation, includes industrial investment companies and industrial banks authorized by chapter 5 of this title. See Tennessee Code 45-1-103
  • Federal reserve bank: means the federal reserve banks created and organized under the authority of the Federal Reserve Act. See Tennessee Code 45-2-501
  • 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

Any state bank has the power to subscribe to the capital stock and become a member of a federal reserve bank.