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Can you summarize 45 TNCO Chapter 2?
Banks And Financial Institutions > Banking Institutions
Short Summary
The provided legal document content covers various aspects related to the acquisition, formation, and control of banks and savings institutions, the organization and operation of banks in Tennessee, the items allowed in the charter of a bank, the qualifications and election of directors and officers in state banks, the membership in Federal Reserve Banks, the general powers of banks and financial institutions in Tennessee, deposits in banks, deposit insurance in Tennessee, leasing safe deposit facilities, fiduciary powers, loans and transactions involving a state bank’s own stock, installment loans in Tennessee, reporting requirements for banks, investment and security powers of authorized state banks, Credit Card State Banks, private trust companies acting as fiduciaries, and state trust companies in Tennessee. These documents apply to various entities including bank holding companies, banking institutions, companies, savings and loan holding companies, savings institutions, corporations seeking to conduct a banking business in Tennessee, incorporators seeking to organize a corporation for the purpose of becoming a state bank, banks seeking to conduct banking business in Tennessee, state banks or trust companies, officers, directors, or employees of state banks, individuals or entities involved in transactions with state banks, national banks, state banks, banking and trust companies, financial service providers, credit card state banks, private trust companies, and state trust companies. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
The legal documents apply to various entities including bank holding companies, banking institutions, companies, savings and loan holding companies, savings institutions, corporations seeking to conduct a banking business in Tennessee, incorporators seeking to organize a corporation for the purpose of becoming a state bank, banks seeking to conduct banking business in Tennessee, state banks or trust companies, officers, directors, or employees of state banks, individuals or entities involved in transactions with state banks, national banks, state banks, banking and trust companies, financial service providers, credit card state banks, private trust companies, and state trust companies.
What does it govern?
The legal document governs the acquisition, formation, and control of banks and savings institutions, the organization and operation of banks in Tennessee, the items allowed in the charter of a bank, the qualifications and election of directors and officers in state banks, the membership in Federal Reserve Banks, the general powers of banks and financial institutions in Tennessee, deposits in banks, deposit insurance in Tennessee, leasing safe deposit facilities, fiduciary powers, loans and transactions involving a state bank's own stock, installment loans in Tennessee, reporting requirements for banks, investment and security powers of authorized state banks, Credit Card State Banks, private trust companies acting as fiduciaries, and state trust companies in Tennessee.
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Tennessee