Tennessee Code 45-3-401 – Required liquidity
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Tennessee Code 45-3-401
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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 45-3-104
- Deposit: means a deposit of money, bonds or other things of value, creating a debtor-creditor relationship. See Tennessee Code 45-1-103
- Liquid assets: means :
(A) Cash on hand. See Tennessee Code 45-3-104
No association shall invest in any security, other than in liquid assets, or in any real estate or other loan at any time when its liquid assets are less than a minimum percentage of its deposit liability, which percentage shall be set by the commissioner.