(a) The commissioner shall administer this part and shall have supervision responsibility for all BIDCOs incorporated under the laws of this state.
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Terms Used In Tennessee Code 45-8-206

  • Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-8-203
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • License: means a license issued under this part authorizing a Tennessee corporation to transact business as a BIDCO. See Tennessee Code 45-8-203
  • Order: includes an approval, authorization, consent, exemption, denial, prohibition, or other official act taken by the commissioner. See Tennessee Code 45-8-203
  • Person: includes an individual, proprietorship, joint venture, partnership, trust, business trust, syndicate, association, joint stock company, corporation, cooperative, government, agency of a government, or any other entity or organization. See Tennessee Code 45-8-203
  • State: means the state of Tennessee. See Tennessee Code 45-8-203
  • Uniform Administrative Procedures Act: refers to title 4, chapter 5. See Tennessee Code 45-8-203
(b) The commissioner may issue orders and promulgate rules and regulations pursuant to the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.
(c) Whenever the commissioner issues an order or license under this part, the commissioner may impose conditions that are deemed necessary or appropriate to effectuate the purposes of this part.
(d) Every final order, decision or license action of the commissioner under subsections (b) and (c) is subject to administrative review under the Uniform Administrative Procedures Act.
(e) In the event a person does not comply with an order issued pursuant to subsections (b) and (c), the commissioner may petition a chancery court having jurisdiction to seek injunctive relief to compel compliance with the order. The power is conferred and the duty is imposed upon the several chancery courts, in all proper cases, to award injunctive relief; provided, that the order issued by the commissioner shall not be reviewable in a proceeding initiated under this subsection (e).
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