Ask Reggi Your Question Now
Can you summarize 45 TNCO Chapter 2, Part 7?
Banking Institutions > Deposits in Banks
Short Summary
The provided legal document content covers various aspects related to deposits in banks. It includes provisions regarding the right and power of banks to receive money on deposit and pay interest, the operation of deposit accounts in the name of minors or multiple parties, deposits made in trust, payable-on-death accounts, and the authority of power of attorney for banking institutions. The documents also address the final adjustment of statements of account, adverse claims to bank deposits, payment of deposits in the absence of an executor or administrator, reserve requirements for state banks, enforcement of a bank’s obligation to pay the balance of a deposit account, and cashing checks payable to a decedent and collecting monies from a deceased depositor’s account. The documents apply to banks, depositors, trustees, beneficiaries, power of attorneys, executors, administrators, decedents, and affiants involved in transactions with banks. No specific exemptions or penalties are mentioned in the documents.
Whom does it apply to?
Banks, depositors, trustees, beneficiaries, power of attorneys, executors, administrators, decedents, affiants
What does it govern?
Deposits in banks
What are exemptions?
No specific exemptions are mentioned in the documents.
What are the Penalties?
No specific penalties are mentioned in the documents.
Jurisdiction
Tennessee