reglab/housing_qa huggingface dataset:
TN Code § 45-2-207 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 2 - Organization of Banks|§ 45-2-207. Capital Structure

  A state bank shall have the capital structure that the commissioner deems adequate. The capital structure of an interim bank chartered pursuant to § 45-2-204(d) shall consist of amounts as determined by the commissioner and prescribed by rule or regulation.   The commissioner may require the bank to increase its capital structure to the point deemed adequate by the commissioner before granting approval of an application for a branch office, amendment to charter, change of location or trust powers.   The issuance of preferred or convertible preferred stock shall be authorized by the commissioner. The stock shall have the preferences, powers and rights the commissioner may approve. It shall not be retired without the approval of the commissioner, and the requirement of the approval shall be stated in the stock certificates, but the commissioner may give advance approval to sinking funds payable exclusively out of earnings available for dividends.   The commissioner may direct a state bank to sell additional stock in a designated amount to remedy an impairment of capital.   The commissioner may consider the value of outstanding debentures as capital for the purpose of determining the legal lending limits of the bank.
TN Code § 45-2-208 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 2 - Organization of Banks|§ 45-2-208. Capital Notes and Debentures

  Any bank, after obtaining the prior approval of the shareholders owning two-thirds (2/3) of the stock of the bank entitled to vote and after obtaining the prior approval of the commissioner, may issue and sell its convertible or nonconvertible capital notes or debentures. Capital notes or debentures that are by their terms convertible into stock may be converted into shares of common or preferred stock in accordance with the provisions therefor as may be made in the capital notes or debentures with the approval of the commissioner.   Capital notes and debentures issued by banks shall be unsecured indebtedness of the bank and shall be subordinate to the claims of all depositors and of all other creditors of the bank, regardless of whether the claims of the depositors arose before or after the issuance of the capital notes or debentures. In order to secure the payment of the capital notes or debentures, however, provisions for sinking funds may be made. In the event of liquidation, all depositors and all other creditors of the bank shall be entitled to be paid in full before payment shall be made on account of principal or interest on the capital notes or debentures. No payment shall be made at any time on account of the principal thereof unless following the payment the aggregate of the capital, surplus and undivided profits and capital notes or debentures thereafter outstanding shall be at least equal to the aggregate immediately before the original issuance of the capital notes or debentures, or as may otherwise be expressly authorized by the commissioner. The claims of holders of capital notes or debentures shall, however, be superior to the claims of stockholders for dividends or other claims on account of shares of capital stock held by them.   The amount of outstanding capital notes and debentures issued and outstanding by any bank shall be, subject to the approval of the commissioner, treated as capital for the purpose of computing the loan limits prescribed by § 45-2-1102(a) and for the purpose of computing investment limits prescribed by § 45-2-607(a)(9).
TN Code § 45-2-212 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 2 - Organization of Banks|§ 45-2-212. Application for Certificate of Authority — Contents

 After the applicant has received notification from the commissioner that the application for charter has been approved and subscription proceeds have been accepted and collected for at least the minimum capital of the proposed state bank as required by the commissioner, the proposed state bank shall file a request with the commissioner for the issuance of a certificate of authority, which request shall contain:   A statement that the capital and surplus have been paid in;   The name and address of each stockholder and the number of shares held by the stockholders; and   Any other information that the commissioner may require to enable the commissioner to determine whether authority to commence business should be issued.
TN Code § 45-2-213 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 2 - Organization of Banks|§ 45-2-213. Return of Noncomplying Applications — Effect of Failure to Return

  If the application for a certificate of authority or any accompanying documents do not comply with the requirements of this chapter and chapter 1 of this title, the commissioner shall, within ten (10) business days after the receipt thereof, return them to the incorporators, calling attention to the defect or defects in the application.   If the application and accompanying documents are not so returned within the ten-day period, they shall be deemed to have been filed with the commissioner.
TN Code § 45-2-214 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 2 - Organization of Banks|§ 45-2-214. Time for Approval or Denial of Application — Conditions for Approval

 The commissioner shall approve or deny the application for a certificate of authority within thirty (30) days after the application has been filed. The commissioner shall approve the application if:   The capital and surplus have been fully paid in cash;   Appropriate bylaws have been adopted;   Any conditions imposed by the commissioner in granting the charter have been fulfilled;   The requirements of this chapter and chapter 1 of this title have been satisfied; and   An amount of fidelity bond coverages satisfactory to the commissioner is in force.
TN Code § 45-2-215 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 2 - Organization of Banks|§ 45-2-215. Approval or Denial of Application — Action by Commissioner — Limitation of Bank or Trust Company to Fiduciary Purposes and Powers

  If the commissioner approves the application, the commissioner shall promptly issue a certificate of authority and mail the same to the incorporators. If the commissioner denies the application, the commissioner shall promptly mail a notice of the denial to the incorporators, stating therein the reason or reasons for denying the application.   A state bank or trust company, for which the commissioner has approved the filing of a charter and has issued a certificate of authority, is not illegally organized because its purposes and powers are, or have been required by the commissioner to be, limited to fiduciary purposes and powers.
TN Code § 45-2-216 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 2 - Organization of Banks|§ 45-2-216. Forfeiture of Charter for Failure to Obtain Certificate of Authority or to Commence Business — Restitution of Improper Expenditures

 If no application for a certificate of authority is filed within six (6) months following the grant of a charter or any additional period allowed by the commissioner, or if a certificate of authority has been finally denied, or if the bank fails to commence business within six (6) months after the issuance of a certificate of authority or any additional period allowed by the commissioner, the charter shall be forfeited, and the bank shall be liquidated in accordance with the orders of the commissioner. If an improper expenditure has been made, the commissioner may order the persons who were incorporators or directors at the time to restore the sum by equal contributions.
TN Code § 45-2-217 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 2 - Organization of Banks|§ 45-2-217. Operation Before Receiving Certificate of Authority Prohibited

 It is a criminal offense against this chapter and chapter 1 of this title for a state bank to perform any act other than to perfect its organization, obtain and equip a place of business and otherwise prepare to do business before receiving a certificate of authority to operate.
TN Code § 45-2-218 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 2 - Organization of Banks|§ 45-2-218. Charter Amendment

  A state bank shall apply to the commissioner to amend its charter or to change its location or the location of any of its branches. The change of location shall be consistent with § 45-2-614.   An application for an amendment of the charter shall be authorized by the vote of at least a majority of the outstanding voting stock at a meeting of stockholders except as provided by § 48-20-102(1)-(7).   Notice of the application shall be sent to the persons and organizations that the commissioner may require.   In making a determination, the commissioner shall consider whether the public convenience and advantage would be served by granting the application and shall be guided by the standards prescribed for the approval of an application for a charter, insofar as they are reasonably applicable.   Any amendment to the charter of an incorporated bank increasing or decreasing its capital stock or otherwise must be recorded in accordance with § 45-2-205(c).   Any other provision of the law to the contrary notwithstanding, any bank that was exercising fiduciary powers on April 2, 1969, may continue to exercise the powers without changing any provisions of its charter.   Notwithstanding any law to the contrary, the name, address, and zip code of each incorporator does not need to be set forth in a restated charter.
TN Code § 45-2-219 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 2 - Organization of Banks|§ 45-2-219. Charter Null and Void on Ceasing Business — Definition

 Any charter issued under  this chapter shall be null and void if an institution that is chartered and commences business ceases to conduct business and no business is conducted for a period of two (2) years. For the purposes of this section, “business” means:   Receiving deposits, paying out money on checks and making loans; or   Acting as a fiduciary for the purposes of a trust company.
TN Code § 45-2-220 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 2 - Organization of Banks|§ 45-2-220. Organization as a Limited Liability Company — Rules and Regulations — Applicability of Limited Liability Company Laws

  Subject to the requirements and restrictions of this chapter, including, but not limited to, deposit insurance requirements where applicable, a bank or trust company may organize as a limited liability company pursuant to title 48, Chapters 201 249.   The department shall have the authority to promulgate rules and regulations specifying the conditions under which a bank or trust company may organize as a limited liability company.   To the extent title 48, Chapters 201 249 is consistent with and not in conflict with this chapter and the rules and regulations of the department, title 48, Chapters 201 249 shall apply to a bank or trust company that has organized as a limited liability company.
TN Code § 45-2-301 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 3 - Stockholders|§ 45-2-301. [reserved.]

 The bank may not vote shares that it holds in any capacity other than as fiduciary.
TN Code § 45-2-304 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 3 - Stockholders|§ 45-2-304. Voting Trusts — Approval of Commissioner

  No shares deposited under a voting trust agreement shall be voted by the trustees unless the agreement has been approved by the commissioner.   Approval shall be withheld, or if previously granted, revoked whenever it appears that the existence of the trust would tend to reduce competition among lending institutions or to affect adversely the character or competence of the management or the bank's policies or operation procedures.
TN Code § 45-2-305 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 3 - Stockholders|§ 45-2-305. Stockholders Relieved of Double Liability

 Stockholders in banking institutions doing a general banking business in this state pursuant to charters granted under authority of Acts 1909, ch. 54, §§ 1-4 (compiled as §§ 3892-3895, inclusive, of the Code of 1932, and repealed by Acts 1939, ch. 106), are relieved of the double or additional individual liability to the depositors of the institutions; notwithstanding that such double liability feature may be written in the body of the charters of the banking institutions, and shown on the face of the stock certificates.
TN Code § 45-2-403 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 4 - Directors and Officers|§ 45-2-403. Fidelity Bonds and Other Insurance — Special Reserve Fund

  The directors of a state bank shall direct and require good and sufficient fidelity bonds on all active officers and employees, whether or not they draw salary or compensation, which bonds shall provide for indemnity to the bank on account of any losses sustained by it as the result of any dishonest, fraudulent or criminal act or omission committed or omitted by them acting independently or in collusion or combination with any person or persons. The bonds may be in individual, schedule or blanket form, and the premiums for the bonds may be paid by the bank.   The directors shall also direct and require suitable insurance protection to the bank against burglary, robbery, theft, liability and other similar insurable hazards to which the bank may be exposed in the operations of its business on the premises or elsewhere.   The directors shall be responsible for prescribing at least once in each year the amount of penal sum of the bonds or policies and the sureties or underwriters thereon, after giving due and careful consideration to all known elements and factors constituting the risk or hazard. The action shall be recorded in the minutes of the board of directors and be subject to the approval of the commissioner.    In lieu of providing a good and sufficient fidelity bond on all active officers and employees as required by subsection (a), a state bank with sufficient capital to assets ratio as established by the commissioner may establish a special reserve fund in such form, amount, and including such assets, as approved by the commissioner.   The commissioner shall promulgate necessary rules and regulations to implement  subdivision (d)(1).
TN Code § 45-2-404 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 4 - Directors and Officers|§ 45-2-404. Authority to Declare Dividends

 The board of directors of a state bank may not declare dividends in any calendar year that exceeds the total of its net income of that year combined with its retained net income of the preceding two (2) years without the prior approval of the commissioner.
TN Code § 45-2-405 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 4 - Directors and Officers|§ 45-2-405. Government Service

  Notwithstanding  any law to the contrary, any officer, director, or employee of any bank may serve in any capacity in state or local government, except in any capacity with the department, or on any board, commission, or other agency of the governmental unit; provided, that the officer, director or employee has:  Disclosed to the chief executive officer of the bank and the board of directors of the bank the capacity in which the officer, director or employee is serving with the governmental unit; and   Disclosed to the chief executive officer of the governmental unit and to the appropriate board, commission or other agency the relationship to the bank.     Where there has been compliance with this section, the existence of the dual relationship shall not invalidate, or adversely affect, any sale, contract or other business transaction between the bank and the governmental unit.   As used in this section, “bank” means any state or national bank, or state or federal savings and loan association, or credit union established pursuant to chapter 4 of this title.
TN Code § 45-2-501 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 5 - Membership in Federal Reserve Banks|§ 45-2-501. Part Definitions

 As used in this part, unless the context otherwise requires:   “Federal Reserve Act” includes the act of congress of the United States approved December 23, 1913, as amended;   “Federal reserve bank” means the federal reserve banks created and organized under the authority of the Federal Reserve Act;   “Federal reserve board” means the federal reserve board, created and described in the Federal Reserve Act; and   “Member bank” means any national bank, state bank, or banking and trust company that has become or that becomes a member of one (1) of the federal reserve banks created by the Federal Reserve Act.
TN Code § 45-2-502 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 5 - Membership in Federal Reserve Banks|§ 45-2-502. Power to Subscribe to Stock

 Any state bank has the power to subscribe to the capital stock and become a member of a federal reserve bank.
TN Code § 45-2-503 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 5 - Membership in Federal Reserve Banks|§ 45-2-503. Powers of Federal Reserve Bank Membership

 A state bank that is or that becomes a member of a federal reserve bank is by this part vested with all powers conferred upon member banks of the federal reserve banks by the terms of the Federal Reserve Act as fully and completely as if the powers were here specifically enumerated and described, and all the powers shall be exercised, subject to all restrictions and limitations imposed by the Federal Reserve Act, or by regulations of the federal reserve board made pursuant to the act. The right, however, is expressly reserved to revoke or to amend the powers herein conferred.
TN Code § 45-2-504 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 5 - Membership in Federal Reserve Banks|§ 45-2-504. Reserves of Federal Reserve Act Sufficient

 A compliance on the part of a bank with the reserve requirements of the Federal Reserve Act shall be held to be a full compliance with those  laws of this state that require banks to maintain reserves, and the bank shall not be required to carry or maintain reserves other than those required under the terms of the Federal Reserve Act.
TN Code § 45-2-505 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 5 - Membership in Federal Reserve Banks|§ 45-2-505. Supervision and Examinations — Disclosures to Federal Reserve Board

 The bank shall continue to be subject to the supervision and examinations required by the laws of this state, except that the federal reserve board shall have the right, if it deems necessary, to make examinations, and the authorities of this state having supervision over the bank or trust company may disclose to the federal reserve board, or to examiners duly appointed by it, all information in reference to the affairs of any bank that has become, or desires to become, a member of a federal reserve bank.
TN Code § 45-2-601 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 6 - General Powers of Banks|§ 45-2-601. General Powers

 Subject to regulation by the commissioner and any restrictions expressly imposed by this chapter and chapter 1 of this title, any bank may enjoy any and all rights and may exercise any and all powers, as defined herein, conferred upon banking corporations for profit by the Tennessee Business Corporation Act, compiled in title 48, Chapters 11 27, as same may be amended from time to time. In addition, any state bank may exercise any power or engage in any activity that it could exercise or engage in if it were a national bank located in Tennessee, subject to regulation by the commissioner for the purpose of maintaining the state bank's safety and soundness.
TN Code § 45-2-602 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 6 - General Powers of Banks|§ 45-2-602. Subsidiary Corporations

   Any bank may exercise any of its powers through the medium of a subsidiary corporation or corporations. Any and all rights conferred upon banks shall be fully applicable to the subsidiary corporations of banks. Banks shall not be permitted, however, through the use of subsidiary corporations to circumvent the restrictions imposed by § 45-2-614. Whenever the commissioner deems it necessary, the commissioner may examine any corporation that is a subsidiary corporation of a state bank.   A bank may organize, participate in or own an ownership interest in a limited liability company, or limited liability partnership, under this section and this title.      For the purposes of this section, a minority stock ownership interest in a credit insurance company whose capital meets or exceeds the requirements of § 56-2-114, or in an insurance holding company system as defined in § 56-11-101, whose principal business is conducted through one (1) or more credit insurance companies whose capital meets or exceeds the requirements of § 56-2-114, shall be deemed to be a subsidiary; provided, that the original cost of the stock ownership interest does not exceed five percent (5%) of the capital and surplus of the bank; and provided further, that no one (1) bank shall own more than five percent (5%) of the stock in the credit insurance company or insurance holding company system.   The existence and operation of any subsidiary corporation formed prior to June 9, 1981, shall not be impaired by subdivision (b)(1).
TN Code § 45-2-603 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 6 - General Powers of Banks|§ 45-2-603. Emergency Powers

 In the event of an emergency resulting from fire, act of God, attack by a foreign nation, riot, insurrection, civil disorder or any similar disaster, any bank, without regard to any restrictions imposed by this chapter and chapter 1 of this title, may take any action that it deems necessary to preserve its assets and protect the interests of its depositors, shareholders or employees including, but not restricted to, suspending business activity or obtaining the benefit of, or participating in, emergency action authorized by the government of the United States, or the state of Tennessee or its political subdivisions.