Ask Reggi Your Question Now

Reggi is the free generative AI assistance for regulatory compliance
Ask a Question

Can you summarize TNCO 45-2-605?

General Powers of Banks > Transmitting money Dealing in foreign exchange.

Short Summary

(a) A bank may accept money for transmission and may transmit money. (b) A bank may buy and sell foreign exchange to the extent necessary to meet the needs of customers. Acts 1969, ch. 36, 1 (3.210); T.C.A., 45-413.

Jurisdiction

Tennessee

Source
TNCO 45-2-605 [https://reggi.cloud.regology.com/regulations/US-TNCO/US-TNCO_T_45_C_2_P_6_S_605]