Tennessee Code 45-2-1806 – Investment advisors – Registration
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Terms Used In Tennessee Code 45-2-1806
- 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
- Department: means the department of financial institutions. See Tennessee Code 45-1-103
- Fiduciary: A trustee, executor, or administrator.
- 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
- United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
Any state bank or state bank subsidiary that acts as an investment advisor to any mutual fund shall register as an investment advisor with the United States securities and exchange commission and with the department of commerce and insurance. For purposes of this section, a bank common trust fund, investment in which is limited to accounts in which the bank acts as fiduciary or co-fiduciary, shall not be considered a mutual fund.