(a) The commissioner may enter consent orders at any time with a person to resolve a matter arising under this chapter. A consent order must be signed by the person to whom it is issued or a duly authorized representative, and must indicate agreement to the terms contained in the order. A consent order may provide that it does not constitute:

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Terms Used In Tennessee Code 45-7-141

  • Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-7-103
  • Person: means any individual, general partnership, limited partnership, limited liability company, corporation, trust, association, joint stock corporation, or other corporate entity identified by the commissioner. See Tennessee Code 45-7-103
  • Representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
  • signed: includes a mark, the name being written near the mark and witnessed, or any other symbol or methodology executed or adopted by a party with intention to authenticate a writing or record, regardless of being witnessed. See Tennessee Code 1-3-105
(1) An admission by a person that a provision of this chapter, or a rule or order promulgated or issued pursuant to this chapter, has been violated; or
(2) A finding by the commissioner that the person has violated a provision of this chapter, or a rule or order promulgated or issued pursuant to this chapter.
(b) Notwithstanding the issuance of a consent order, the commissioner may seek civil or criminal penalties or compromise civil penalties concerning matters encompassed by the consent order.
(c) In cases involving extraordinary circumstances requiring immediate action, the commissioner may take an enforcement action authorized by this chapter without providing the opportunity for a prior hearing, but shall promptly afford a subsequent hearing upon an application to rescind the action taken, if the application is filed with the commissioner within twenty (20) days of the receipt of the notice of the commissioner’s emergency action.
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