reglab/housing_qa huggingface dataset:
TN Code § 45-2-1007 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 10 - Fiduciary Powers|§ 45-2-1007. Deposit of Securities in Central Depository

   Notwithstanding any other provision of law, any bank or trust company holding securities as a fiduciary, cofiduciary, agent for a fiduciary or custodian pursuant to § 45-2-1003(a) and (b), is authorized to deposit or arrange for the deposit of the securities in a clearing corporation, as defined in § 47-8-102.   When the securities are so deposited, certificates representing securities of the same class of the same issuer may be merged and held in bulk in the name of the nominee of the clearing corporation with any other securities deposited in the clearing corporation by any person, regardless of the ownership of the securities, and certificates of small denomination may be merged into one (1) or more certificates of larger denominations.   The records of the bank or trust company acting as a fiduciary, cofiduciary, agent for a fiduciary or custodian, shall at all times show the name of the party for whose account the securities are so deposited.   Title to the securities may be transferred by bookkeeping entry on the books of the clearing corporation without physical delivery of certificates representing the securities.   A bank or trust company so depositing securities pursuant to this section shall be subject to the rules and regulations as, in the case of state-chartered institutions, the commissioner and, in the case of national banking associations, the comptroller of the currency may from time to time issue.   A bank or trust company acting as agent for a fiduciary or custodian shall, on demand by the fiduciary, certify in writing to the fiduciary the securities so deposited by the bank or trust company in the clearing corporation for the account of the fiduciary.     This section shall apply to any bank or trust company holding securities as a fiduciary, cofiduciary, agent for a fiduciary or custodian acting on March 6, 1978, or who thereafter may act, regardless of the date, agreement, instrument, or court order by which it is appointed and regardless of whether or not the fiduciary, cofiduciary, agent for a fiduciary or custodian, owns capital stock of the clearing corporation.
TN Code § 45-2-1009 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 10 - Fiduciary Powers|§ 45-2-1009. Trust Offices

  No bank shall operate any trust office for the purpose of conducting a general banking business, including, but not limited to, receiving deposits, paying checks, making loans, or receiving or discounting bills and notes at any place where it is prohibited from establishing a branch bank for this purpose.   A bank at any trust office may receive money or other things of value, disburse funds, extend credit and otherwise perform all acts necessary or appropriate for it to carry out its obligations and duties as fiduciary if the activity is otherwise lawful.
TN Code § 45-2-1010 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 10 - Fiduciary Powers|§ 45-2-1010. Fiduciary Activities of State Trust Institution

  A state trust institution may act as a fiduciary in this or any other state or foreign country, subject to complying with applicable laws of the state or foreign country.   In addition, a state trust institution may conduct any activities at any office outside this state that are permissible for a trust institution chartered by the host state where the office is located, except to the extent the activities are expressly prohibited by the laws of this state or by any regulation or order of the commissioner applicable to the state trust institution; provided, that the commissioner may waive the prohibition if the commissioner determines that the involvement of out-of-state offices of state trust institutions in particular activities would not threaten the safety or soundness of the state trust institutions.   A state trust institution may:  Perform any act as a fiduciary at each trust office established under this title and at an authorized branch; and   Exercise any incidental power that is reasonably necessary to enable it to fully exercise commonly accepted fiduciary powers conferred in this chapter and chapter 1 of this title.     A state trust institution may exercise any other power authorized by this chapter and chapter 1 of this title, or any power authorized to federally chartered trust institutions whose purposes and powers are limited to fiduciary purposes and powers, subject to the commissioner's regulation for safety and soundness. A state trust institution may exercise any power authorized to trust institutions chartered by another state whose purposes and powers are limited to fiduciary purposes and powers, subject to the commissioner's regulation for safety and soundness.
TN Code § 45-2-1011 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 10 - Fiduciary Powers|§ 45-2-1011. Fiduciary Activities of Out-of-State Trust Institution

 An out-of-state trust institution that establishes and maintains one (1) or more offices in this state under this chapter may conduct any activity at each office that would be authorized under the laws of this state for a state trust institution to conduct at the office.
TN Code § 45-2-1012 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 10 - Fiduciary Powers|§ 45-2-1012. State Trust Company Principal Office

  Each state trust company must have and continuously maintain a principal office in this state.   A state trust company shall apply to the commissioner to change its location or the location of any of its offices pursuant to § 45-2-218.
TN Code § 45-2-1013 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 10 - Fiduciary Powers|§ 45-2-1013. Trust Office

  A state trust institution may establish or acquire and maintain trust offices anywhere in this state. Any prohibition on the acquisition of an institution that has not been in operation for at least three (3) years shall not apply to trust companies. A state trust institution desiring to establish or acquire and maintain an office shall file a written notice with the commissioner setting forth the name of the state trust institution, the location of the proposed additional office, furnish a copy of the resolution adopted by the board authorizing the additional office and pay the filing fee prescribed by the commissioner. If acquiring a trust office, the trust institution shall provide evidence that all fiduciary obligations and liabilities of the parties have been properly discharged or otherwise assumed.   The notificant may commence business at the additional office on the thirty-first day after the date the commissioner receives the notice, unless the commissioner specifies an earlier or later date.   The acquiring trust institution shall succeed by operation of law to all of the rights, privileges and obligations of the selling trust institution.   The thirty-day period of review may be extended by the commissioner on a determination that the written notice raises issues that require additional information or additional time for analysis. If the period of review is extended, the state trust institution may establish the additional office only on prior written approval by the commissioner.   The commissioner may deny approval of the additional office if the commissioner finds that the notificant lacks sufficient financial resources to undertake the proposed expansion without adversely affecting its safety or soundness or that the proposed office would be contrary to the public interest.   A state trust institution may also establish and maintain a new trust office or acquire and maintain an office outside of this state. In addition to the notice required to be provided in subsection (a), the trust institution must also provide evidence that the laws of the jurisdiction where the office is to be located permit an office, a copy of the authorizing board resolution and the filing fee, if any, prescribed by the commissioner. The process of review in subsections (b), (d) and (e) shall be applicable. The commissioner shall also consider the views of the appropriate bank supervisory agencies.
TN Code § 45-2-1015 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 10 - Fiduciary Powers|§ 45-2-1015. Name of Trust Institution

 A state trust company or out-of-state trust institution may use any name in connection with establishing an office in this state pursuant to this chapter, except that the commissioner may determine that a name proposed to be used is potentially misleading to the public and require the company or institution to select a name that is not potentially misleading.
TN Code § 45-2-1016 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 10 - Fiduciary Powers|§ 45-2-1016. Designation of Trustee

 Any person residing in this state may designate any trust institution to act as a fiduciary on behalf of the person.
TN Code § 45-2-1017 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 10 - Fiduciary Powers|§ 45-2-1017. Choice of Law Governing Trust and Fiduciary Investments

 Any trust institution that maintains a trust office in this state and its affected clients may designate as the state whose laws shall govern any written agreement between the trust institution and its client or any instrument under which the trust institution acts for a client and with respect to the fiduciary investment standards applicable to the agreements, either:   This state;   A state where affected clients reside; or   The state where the trust institution has its principal office.
TN Code § 45-2-1018 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 10 - Fiduciary Powers|§ 45-2-1018. Engaging in Commerce Prohibited

 A state trust company may not invest its funds in trade or commerce by buying, selling, or otherwise dealing in goods or by owning or operating a business not related to its fiduciary business, except as necessary to fulfill a fiduciary obligation to a client.
TN Code § 45-2-1019 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 10 - Fiduciary Powers|§ 45-2-1019. Pledge of Assets

  A state trust company may not pledge or create a lien on any of its assets except:  To secure the repayment of money borrowed;   As specifically authorized or required by § 45-2-611; or   By rules adopted under this chapter.     An act, deed, conveyance, pledge, or contract in violation of this section is void.
TN Code § 45-2-1020 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 10 - Fiduciary Powers|§ 45-2-1020. Merger Authority

 A state trust company may merge with another trust company or into a depository institution pursuant to the applicable provisions of part 13 of this chapter, or as otherwise permitted. However, any requirement that an institution must be in operation for three (3) years before engaging in a merger transaction shall not apply to trust companies. Mergers of state trust companies into a resulting out-of-state trust institution is permitted to the same extent that the other state's law permits Tennessee trust institutions to merge with trust companies of the other state. If a state trust company merges into an out-of-state trust institution, the resulting out-of-state trust institution may operate a trust office at the location of the state trust company pursuant to the notice requirements for the offices under this chapter, but the office shall not constitute a branch.
TN Code § 45-2-1021 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 10 - Fiduciary Powers|§ 45-2-1021. Sale of Assets

  The board of a state trust company, with the commissioner's approval, may cause a state trust company to sell all or substantially all of its assets, including the right to control accounts established with the trust company, without shareholder approval if the commissioner finds the:  Interests of the state trust company's clients and creditors are jeopardized because of insolvency or imminent insolvency of the state trust company; and   Sale is in the best interest of the state trust company's clients and creditors.     A sale under this section must include an assumption and promise by the buyer to pay or otherwise discharge:  All of the state trust company's liabilities to clients;   All of the state trust company's liabilities for salaries of the state trust company's employees incurred before the date of the sale;   Obligations incurred by the commissioner arising out of the supervision or sale of the state trust company; and   Fees and assessments due the department.     This section does not affect the commissioner's right to take action under another law. The sale by a trust company of all or substantially all of its assets with shareholder approval is considered a voluntary dissolution and liquidation and is governed by § 45-2-1501.
TN Code § 45-2-1101 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 11 - Loans|§ 45-2-1101. Loans Authorized

 Any state bank may lend money and discount or purchase evidences of indebtedness and any agreement for the payment of money.
TN Code § 45-2-1103 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 11 - Loans|§ 45-2-1103. Loans to Officers and Directors

 Compliance with the requirements of 12 U.S.C. §§ 375a, 375b, and 1828(j) and applicable federal regulations shall be deemed compliance with the laws of Tennessee concerning loans to directors and officers of state banks.
TN Code § 45-2-1104 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 11 - Loans|§ 45-2-1104. Loans and Transactions Involving Banks Own Stock as Collateral or Otherwise

   A state bank may make a loan secured by not more than fifty percent (50%) of the book value of its own stock upon the approval of a majority of the bank's board of directors; provided, that this subsection (a) shall not permit a purchase money loan for the initial acquisition of the bank's own stock. Loans secured by the bank's own stock shall be limited to and shall not exceed:  In the aggregate, twenty percent (20%) of the bank's capital, surplus and undivided profits; or   To any one (1) borrower, ten percent (10%) of the bank's capital, surplus and undivided profits.(2)  A loan that is otherwise adequately secured to the extent required of loans of the type provided and in which the bank's stock is taken as additional or secondary collateral shall not be included in the limits provided in this subsection (a).        Except as expressly limited or restricted in this title, a state bank may engage in transactions involving its own stock, including, but not limited to, the transfer, repurchase, holding, sale or division, to the same extent permitted to corporations under the Tennessee Business Corporation Act, compiled in title 48, Chapters 11 27.   The bank shall give the commissioner thirty (30) days' advance notice of any proposed transaction and may consummate the transaction at the end of the thirty-day period unless the commissioner advises the bank in writing of the commissioner's objection to the proposed transaction.
TN Code § 45-2-1105 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 11 - Loans|§ 45-2-1105. Participation With Other Lenders

 A state bank may participate in a loan with another lender to the extent that its participation does not exceed its legal limit for the type of loan except that participation may not violate  § 45-2-1102(c).
TN Code § 45-2-1107 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 11 - Loans|§ 45-2-1107. Disclosure of Terms and Conditions of Loan

 When an installment loan is made and interest is charged as provided in § 45-2-1106(b)(1)(A) and (B), the lending bank or trust company shall make disclosures of the terms and conditions of the loan that may from time to time be required for the loan under the Federal Consumer Credit Protection Act, 15 U.S.C. § 1601 et seq.
TN Code § 45-2-1108 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 11 - Loans|§ 45-2-1108. Same Power to Make Loans as National Banks

 Notwithstanding any provision to the contrary in this chapter and chapter 1 of this title or elsewhere, state banks have the power to make loans upon the same terms and at the maximum effective interest rates as loans are authorized and credit extended by national banks in this state. This power includes, but is not limited to, the right to take, receive, reserve and charge on any loan or discount made, or upon any notes, bills of exchange, or other evidence of debt, interest at a maximum effective interest rate of one percent (1%) in excess of the discount rate on ninety-day commercial paper in effect at the federal reserve bank in the federal reserve district where the state bank is located.
TN Code § 45-2-1201 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 12 - Elderly and Vulnerable Adult Financial Exploitation Prevention Act|§ 45-2-1201. Short Title

 This part shall be known and may be cited as the “Elderly and Vulnerable Adult Financial Exploitation Prevention Act.”
TN Code § 45-2-1204 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 12 - Elderly and Vulnerable Adult Financial Exploitation Prevention Act|§ 45-2-1204. List of Contact Persons

  A financial service provider may offer to an elderly or vulnerable adult the opportunity to submit and periodically update a list of persons that the elderly or vulnerable adult authorizes the financial service provider to contact when the financial service provider has reasonable cause to suspect that the adult is a victim or a target of financial exploitation.   Notwithstanding subsection (a), a financial service provider, or an officer or employee of the financial service provider, that has reasonable cause to suspect that an elderly or vulnerable adult is the victim or target of financial exploitation may convey the suspicion to one (1) or more of the following, provided that the person is not the suspected perpetrator:  Persons on the list described in subsection (a), if a list has been provided by the elderly or vulnerable adult;   A co-owner, additional authorized signatory, or beneficiary on the elderly or vulnerable adult's account; or   A person known by the financial service provider to be a family member, including a parent, adult child, or sibling.     When providing information under this section, the financial service provider may limit the information and disclose only that the financial service provider has reasonable cause to suspect that the elderly or vulnerable adult may be a victim or target of financial exploitation without disclosing any other details or confidential personal information regarding the financial affairs of the elderly or vulnerable adult.   The financial service provider may choose not to contact one (1) or more persons on the list provided pursuant to subsection (a) if the financial service provider suspects that the person or persons are engaged in financial exploitation.   The financial service provider may rely on information provided by the customer in compiling a list of contact persons.   A financial service provider, or an employee of a financial service provider, is immune from all criminal, civil, and administrative liability for contacting a person or electing not to contact a person under this section and for actions taken in furtherance of that determination if the determination was made based on reasonable belief.   Contact with any person, and any information provided under this section, is exempt from the customer consent and customer notice provisions in §§ 45-10-105 and 45-10-106.
TN Code § 45-2-1205 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 12 - Elderly and Vulnerable Adult Financial Exploitation Prevention Act|§ 45-2-1205. Refusal to Accept Power of Attorney Due to Suspicion of Financial Exploitation

  A financial service provider may refuse to accept an acknowledged power of attorney if the financial service provider has reasonable cause to suspect that the principal is or may be the victim or target of financial exploitation by the agent or person acting for or with the agent.   A financial service provider, or an employee of a financial service provider, is immune from all criminal, civil, and administrative liability for refusing to accept a power of attorney or for accepting a power of attorney under this section and for actions taken in furtherance of that determination if the determination was based upon reasonable belief.
TN Code § 45-2-1206 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 12 - Elderly and Vulnerable Adult Financial Exploitation Prevention Act|§ 45-2-1206. Legislative Intent

 It is the intent of the general assembly in adopting this part to allow financial service providers the discretion to take actions to assist in detecting and preventing financial exploitation without liability. The general assembly recognizes that financial service providers are in a unique position by conducting financial transactions on behalf of and at the request of their customers. Financial service providers have duties imposed by contract and duties imposed by both federal and state law to conduct financial transactions requested by their customers faithfully and timely in accordance with the customer's instructions. Further, financial service providers do not have a duty to contravene the valid instructions of their customers, nor to prevent criminal activity directed at their customers, and nothing in this part creates such a duty.
TN Code § 45-2-1301 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 2 - Banking Institutions|Part 13 - Voluntary Corporate Changes|§ 45-2-1301. Part Definitions

 As used in this part, unless the context otherwise requires:   “Bank” means a state or a national bank;   “Continuing bank” means a merging bank the charter of which becomes the charter of the resulting bank;   “Converting bank” means a bank converting from a state to a national bank, or the reverse;   “Merger” includes consolidation;   “Merging bank” means a party to a merger;   “National bank” means a national banking association located in this state;   “Resulting bank” means the bank resulting from a merger or conversion; and   “State bank” means a bank chartered by this state.