The commissioner has the duty and power to:

(1) Exercise the rights, powers and duties set forth in this part or in any other related or applicable act;
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Terms Used In Tennessee Code 45-3-1508

  • Association: means a capital stock or mutual savings and loan association. See Tennessee Code 45-3-104
  • Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-3-1502
  • operating: means that:
    (A) A charter has been issued to a bank by the United States comptroller of the currency or a certificate of authority has been issued by the commissioner. See Tennessee Code 45-1-103
  • 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
(2) Promulgate, in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, regulations that are reasonable or necessary to accomplish the purposes of this part;
(3) Direct and supervise the administrative and technical activities incident to mutual savings and loan holding companies and to create if, in the exercise of discretion, the commissioner deems the creation desirable, an advisory committee that upon request will make recommendations to the commissioner;
(4) Make an annual report with respect to mutual savings and loan holding companies and their operation under this part that the commissioner deems desirable, or that the governor requests;
(5) Cause suit to be filed in the commissioner’s name to enforce any law of this state that applies to an association, subsidiary of an association, or mutual holding company operating under this part;
(6) Prescribe a uniform manner in which the books and records of every mutual holding company is to be maintained;
(7) Establish reasonable and rationally based fee structures for each mutual holding company operating under this part; and
(8) Approve an application for a charter, if the commissioner affirmatively finds from all the information furnished with the application and any official records that there has been compliance with the prerequisites of this part. The commissioner, if so finding, shall state the approval and findings in writing.
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