Tennessee Code 45-14-110 – Conversion to savings bank – Compliance with requirements of chapter
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Terms Used In Tennessee Code 45-14-110
- commissioner: is a uthorized to provide for the organization, chartering, incorporation, examination, operation, regulation, safety and soundness of savings banks. See Tennessee Code 45-14-103
- Depository institution: means any company included for any purpose within any of the definitions of insured depository institution, as set forth in 12 U. See Tennessee Code 45-1-103
- savings bank: as used in this chapter , means a depository institution chartered pursuant to this chapter. See Tennessee Code 45-14-103
A depository institution that converts to a savings bank pursuant to this chapter shall have a period of time that the commissioner determines to be reasonable and prudent to conform to the requirements of this chapter and the regulations issued under this chapter, but the period shall not exceed ten (10) years from the date of conversion.