The making of title pledge loans vitally affects the general economy of this state and the public interest and welfare of its citizens. It is the policy of this state and the purpose of this chapter to:

(1) Ensure a sound system of making title pledge loans through statewide licensing of title pledge lenders by the department of financial institutions;
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Terms Used In Tennessee Code 45-15-102

  • Department: means the department of financial institutions. See Tennessee Code 45-15-103
  • 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) Establish licensing requirements;
(3) Provide for the examination and regulation of title pledge lenders by the department of financial institutions; and
(4) Ensure financial responsibility to the public.
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