reglab/housing_qa huggingface dataset:
TN Code § 45-4-901 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 4 - Credit Unions|Part 9 - Dissolution, Liquidation and Merger|§ 45-4-901. Dissolution

  A majority of the entire membership of any credit union may vote to dissolve the credit union at a regular or special meeting called for that expressly stated purpose.   Any member, within twenty (20) days of the date of the mailing of notice of the meeting, may vote on the question of dissolution by signing a statement in a form approved by the commissioner, and the vote shall have the same force and effect as any other vote.   The credit union shall, upon a vote for dissolution, immediately cease to do all business except for the purpose of liquidation, and the president and secretary shall, within fifteen (15) days following the meeting, notify the commissioner in writing of its intention to liquidate, and shall include in the notice a list of the names of directors and officers of the credit union together with their addresses.
TN Code § 45-4-903 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 4 - Credit Unions|Part 9 - Dissolution, Liquidation and Merger|§ 45-4-903. Merger

  Any credit union may, with the approval of the commissioner of financial institutions, merge with any other credit union under the existing charter of the other credit union, pursuant to any plan approved by the board of directors of each credit union joining in the merger, and approved by two-thirds (2/3) of the members of each credit union represented at a meeting of members duly called for that purpose, at which a minimum of ten percent (10%) of the entire membership is present, unless the meeting of members of either credit union has been waived by the commissioner. After approval of the board and members of each credit union, the president or chair of the board and secretary of each credit union shall execute a certificate of merger, which shall set forth all of the following:  The time and place of the meeting of the board of directors at which the plan was agreed upon;   The vote in favor of adoption of the plan;   A copy of the resolution or other action by which the plan was agreed upon;   The time and place of the meeting of the members at which the plan agreed upon was approved; and   The vote by which the plan was approved by the members.     The certificates and a copy of the plan of merger agreed upon shall be forwarded to the commissioner and, upon approval, returned to the merging credit unions. The certificate of merger, with the certificate of approval of the commissioner annexed it, shall be recorded in the office of the secretary of state and in the register's office of the county in which each credit union has its principal place of business.   Upon a merger so effected, all property, property rights, and interests of the merged credit unions shall vest in the surviving credit union without deed, endorsement, or other instrument of transfer, and all debts, obligations, and liabilities of the merged credit unions shall be deemed to have been assumed by the surviving credit union under whose charter the merger was effected.   This section shall be construed, whenever possible, to permit a credit union chartered under any other act to merge with one chartered under this chapter.   All members of both credit unions effecting a merger shall be deemed to have a common bond of association, occupation or residence as required by § 45-4-101, for formation of credit unions generally.   A merger fee of three hundred dollars ($300) shall be paid to the commissioner to cover the salary and expenses of department personnel assigned to supervise the merger. The fee shall be paid by the surviving credit union if it is chartered under the laws of Tennessee. Otherwise the fee shall be paid by the merging credit union.
TN Code § 45-4-1001 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 4 - Credit Unions|Part 10 - Supervision by State|§ 45-4-1001. Supervision of Credit Unions — Financial Report — Failure to File — Promulgation of Rules and Regulations

  Credit unions shall be subject to the supervision of the commissioner and shall make a report of conditions to the commissioner at least semiannually, on blank forms to be supplied by the commissioner, on the dates of the second and fifth calls made to national banks, notice of which calls shall be sent out by the commissioner; returns shall be verified under oath of the president and treasurer, and additional reports may be required by the commissioner. Any credit union that neglects to make the reports shall forfeit to the state treasury fifty dollars ($50.00) for each day of neglect unless excused.   The commissioner may promulgate rules for the implementation of the credit union laws of this state and the sound operation of state chartered credit unions pursuant to the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.
TN Code § 45-4-1003 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 4 - Credit Unions|Part 10 - Supervision by State|§ 45-4-1003. Fiscal Year — Special Meetings — Voting Power — Members May Overrule Directors — Amendment of Bylaws

  The credit union fiscal year shall end at the close of business on December 31.   Special meetings of the members may be held by order of the board of directors and shall be held on request of ten percent (10%) of the members.   At all meetings, a member shall have but one (1) vote, regardless of the number of shares held.   No shareholder may vote by proxy, but a society, association, copartnership, or corporation, having membership in the credit union, may be represented by one (1) person, duly authorized by the society, association, copartnership, or corporation to represent it.    Amendments of the credit union bylaws may be adopted by the affirmative vote of two-thirds (2/3) of the authorized number of members of the board at any duly held meeting of the board, if the members of the board have been given prior written notice of the meeting and the notice has contained a copy of the proposed amendment or amendments.   No amendment of the bylaws of the credit union shall become effective until approved in writing by the commissioner.     At any meeting of the membership, the members may decide on any matter of interest to the credit union and may overrule the directors; provided, that the notice of the meeting shall have stated the question to be considered in connection with any prior board action.
TN Code § 45-4-1101 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 4 - Credit Unions|Part 11 - Share Insurance Corporation|§ 45-4-1101. Creation

  There is created the state credit union share insurance corporation, a nonprofit membership public corporation, sometimes referred to as “the corporation” in this part.   The corporation may begin operations at any time within one (1) year after March 13, 1974, upon the adoption of articles of incorporation by the duly authorized representatives of not less than nine (9) credit unions chartered and existing under the laws of Tennessee. The articles of incorporation shall be subject to the approval of the commissioner of financial institutions, and shall be filed with the secretary of state and with the commissioner; and shall be recorded in the register's office of Hamilton County in which shall be located the principal office of the corporation.
TN Code § 45-4-1102 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 4 - Credit Unions|Part 11 - Share Insurance Corporation|§ 45-4-1102. Purposes of Corporation

 The general purposes of the corporation are to:   Aid and assist any member credit union that is in liquidation or incurs financial difficulty, such as insolvency or lack of liquidity, in order that the shareholdings and deposits of any individual member of a member credit union shall be protected or guaranteed against loss. The primary amount of loss to be protected or guaranteed shall be established from time to time by the corporation with the approval of the commissioner of financial institutions. With the approval of the commissioner, the corporation may, in addition to the primary amount of loss to be protected or guaranteed, establish additional loss protection or guarantees for the benefit of those member credit unions that voluntarily elect to obtain the additional protection, upon the terms and conditions and the payment of fees that the board of directors of the corporation establishes; and   Cooperate with its member credit unions and the commissioner and the appropriate supervisory agency of credit unions that become members under § 45-4-1107(c) or (d), for the purpose of advancing the general welfare of credit unions in this state and in other states where credit unions become members of the corporation.
TN Code § 45-4-1103 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 4 - Credit Unions|Part 11 - Share Insurance Corporation|§ 45-4-1103. Powers

 The corporation may:   Enter into contracts of any nature including contracts for reinsurance;   Sue and be sued;   Adopt, use and display a corporate seal;   Advance funds in accordance with agreed terms and conditions to aid member credit unions to operate and to meet liquidity requirements;   Upon the written direction of the commissioner, or of the appropriate supervisory authority of any credit union that becomes a member under § 45-4-1107(c) or (d), assume control of the property and business of any member credit union and operate the credit union in accordance with any recommendations the commissioner or other authority may offer;   Assist in the merger, consolidation or liquidation of credit unions;   Receive money or other property from its member credit unions, or any corporation, association or person;   Invest its funds in:  Bonds, notes or securities of the federal government or its agencies;   Investments authorized under § 35-3-120;   Any investment that is lawful for federal credit unions chartered under title 12 of the United States Code;   Obligations of a territory of the United States, a province of the Dominion of Canada, a subdivision or instrumentality of a state or territory of the United States, an authority organized under state law, an interstate compact or by substantially identical legislation adopted by two (2) or more states; provided, that the obligations are general obligation bonds and are given “Investment Grade” ratings by Moodys Investors Service, Inc. or by Standard and Poor's Corporation and are bank eligible investments as defined by the comptroller of the currency;   Obligations of a corporation chartered by the United States or a state of the United States, doing business in the United States; provided, that the investments do not exceed more than ten percent (10%) of the funds invested by the corporation;   Any agency or association organized either as a stock company, mutual association, or membership corporation; provided, that the purposes for which the agency or association is organized are designed to service, aid or otherwise assist credit unions; and   Other investments, other than investments in credit unions or central credit unions that are members of the corporation, that are deemed prudent by the directors, but these other investments shall not exceed twenty percent (20%) of the funds of the corporation;     Borrow money from any source, upon the terms and conditions that the directors determine, for the purpose of this section;   Purchase in its own name, hold and convey property of any nature;   Receive by assignment or purchase, from its member credit unions, any property of any nature owned by those member credit unions;   Sell, assign, mortgage, encumber or transfer property of any nature; and   Adopt and amend bylaws and rules and regulations for carrying out the purposes of this section.
TN Code § 45-4-1104 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 4 - Credit Unions|Part 11 - Share Insurance Corporation|§ 45-4-1104. Exclusive Use of Name — Right to Change Name

  The corporation shall have the sole right to use the name state credit union share insurance corporation.   The board of directors of the corporation has the right to change the name of the corporation.
TN Code § 45-4-1105 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 4 - Credit Unions|Part 11 - Share Insurance Corporation|§ 45-4-1105. Amendments to Articles

  Amendments to the articles, adopted by a vote of two-thirds (2/3) of the number of member credit unions present at an annual meeting or a special meeting called for that purpose, shall be filed with the commissioner and, if approved by the commissioner, shall become effective upon being filed in the same manner as the original articles.   Any credit union that becomes a member of the corporation under § 45-4-1107(c) or (d) shall be entitled to vote on any proposed amendments arising after the credit union becomes a member, and the credit unions present shall be included when ascertaining whether the requisite two-thirds (2/3) vote of the proposed amendment has been met.
TN Code § 45-4-1106 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 4 - Credit Unions|Part 11 - Share Insurance Corporation|§ 45-4-1106. Bylaws

  The credit unions that adopt the articles of incorporation under § 45-4-1101 shall also subscribe and submit to the commissioner of financial institutions for approval, the initial bylaws under which the corporation shall operate.   The bylaws may be amended at any regular meeting of the directors, or special meeting of the directors called for that purpose, by a vote of two-thirds (2/3) of the entire board.
TN Code § 45-4-1109 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 4 - Credit Unions|Part 11 - Share Insurance Corporation|§ 45-4-1109. Administrative Fees

   A regular annual administrative fee, not to exceed one percent (1%) of the member credit union's shares, accounts and certificates, shall be levied by the corporation. The corporation may raise, lower or waive the annual administrative fee when the corporation and the commissioner of financial institutions agree that the total funds of the corporation justify or require the change.   At the option of the board of directors of the corporation, the corporation may exclude from its calculation of the administrative fee required by subsection (a) the shareholdings and deposits of shareholders and depositors of member credit unions that either are not protected or guaranteed by the corporation or that are in excess of the primary amount of loss to be protected or guaranteed by the corporation pursuant to § 45-4-1102(1).     The corporation may return to its member credit unions or credit against future annual administrative fees that portion of annual administrative fees paid into the corporation by its members in excess of the corporation's requirements for administrative expenses, losses, loss provisions, retained earnings and reserves. The return or credit of excessive administrative fees may be made by the corporation in accordance with risk rating categories established by the board of directors, or as a proportional part of the administrative fee paid, as the board of directors may deem appropriate.    The basis for calculating the administrative fee due the ensuing year shall be the member credit union's shares, accounts and certificates as of either:  December 31; or   The date, if different, upon which the member credit union's fiscal year ends.     The corporation shall determine, as to each member credit union, which of the dates specified in subdivision (c)(1) shall be used to calculate the member credit union's administrative fee. The corporation shall additionally determine the date the annual administrative fee is due and payable.
TN Code § 45-4-1110 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 4 - Credit Unions|Part 11 - Share Insurance Corporation|§ 45-4-1110. Directors

  The corporation's business shall be conducted by the incorporators who shall serve until the organizational meeting of the corporation, at which time directors shall be elected by the members of the corporation in accordance with the bylaws. Thereafter, the corporation's business shall be conducted by the directors.   Directors shall not be compensated for their services as directors, but may be reimbursed for reasonable expenses in connection with corporation business.
TN Code § 45-4-1111 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 4 - Credit Unions|Part 11 - Share Insurance Corporation|§ 45-4-1111. Supervision of Corporation

  The corporation is declared to be performing the functions of a credit union and shall be subject to exclusive supervision and an annual examination by the commissioner. A copy of the annual examination report shall be transmitted as soon as practicable to the corporation and to the supervisory agency of each jurisdiction of which one (1) or more credit unions have become members under § 45-4-1107(c) or (d), and the latter also shall be entitled to further information reasonably necessary in connection with the examination.   The corporation shall not be subject to regulation or control by the department of commerce and insurance, and the statutes of the state governing the operation of insurance companies, including, but not limited to, title 56, shall not be applicable to the corporation.   Nothing in this part shall create any liability upon the state for the payment of any funds to any member credit union by reason of the acts or omissions of the corporation created hereunder, nor shall the state be required to pay any loss to any member credit union in the event the corporation shall be unable to pay the loss.
TN Code § 45-4-1112 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 4 - Credit Unions|Part 11 - Share Insurance Corporation|§ 45-4-1112. Examination of Credit Unions by Corporation — Effect of Failure to Pay Assessments

  The commissioner of financial institutions shall promptly forward to the corporation copies of all examination reports of all member credit unions. The cost of furnishing these copies shall be paid by the corporation.   The corporation, in addition, may require independent audits and investigations of any member credit union in order to learn of the financial condition of the credit union as it relates to share insurance. The audits shall be at the corporation's expense; provided, that the member credit union shall pay the expense of an annual audit as required by the corporation; provided, that the foregoing proviso shall not conflict with the rules of the commissioner.   If the corporation ascertains evidence of carelessness, unsound practices or mismanagement of any member credit union that appears to adversely affect the solvency or liquidity of the credit union or threaten undue loss to the corporation, the corporation may order that corrective actions be taken, or after due notice and hearing, as provided in the bylaws, revoke the credit union's membership in the corporation. The corporation may also recommend to the commissioner or the supervisory agency of the state of each credit union that becomes a member under § 45-4-1107(c) or (d), that the credit union be liquidated.   If any member credit union  fails to pay any assessment lawfully required under this part, the corporation shall notify the commissioner or the supervisory agency of the state of each credit union that becomes a member under § 45-4-1107(c) or (d), and the commissioner or the supervisory agency shall forthwith notify the credit union in writing. The failure of the credit union to make the payment within fifteen (15) days after the written notice may subject the credit union to the sanctions set forth in subsection (c).
TN Code § 45-4-1113 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 4 - Credit Unions|Part 11 - Share Insurance Corporation|§ 45-4-1113. Administrative Review

  If a Tennessee credit union is aggrieved by a decision or order of the corporation or the commissioner, or if the corporation is aggrieved by a decision or order of the commissioner or of a supervisory agency, the Tennessee credit union or corporation shall, upon appropriate petition and after due notice, be entitled to a hearing and administrative review by the Tennessee credit union board of appeals, which may stay enforcement of the decisions or orders pending administrative review.   The Tennessee credit union board of appeals shall consist of three (3) members: the commissioner or the commissioner's appointee; one (1) appointee of the corporation; and one (1) appointee of the attorney general and reporter. Directors, officers, and employees of the corporation shall be ineligible to serve on the Tennessee credit union board of appeals. The Tennessee credit union board of appeals shall enact reasonable bylaws and rules of procedure necessary to provide for administrative review.    Judicial review of decisions or orders of the corporation shall not be available unless the aggrieved party has sought administrative review under this section, and a final decision has been made by the credit union board of appeals.   Any action for judicial review shall be pursuant to § 27-8-101 solely upon the record of the board of appeals and shall be brought in a court of general or equity jurisdiction, without the intervention of a jury, within six (6) months after the date of final decision of the credit union board of appeals, and shall be brought only in Hamilton County.
TN Code § 45-4-1114 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 4 - Credit Unions|Part 11 - Share Insurance Corporation|§ 45-4-1114. Exemption From Taxation

 The corporation is declared to be performing a public function on behalf of those citizens of the state whose shares and deposits, with respect to which the corporation is organized, are to be protected and to be a public instrumentality of the state of Tennessee for those purposes. Accordingly, the corporation and all properties at any time owned by it, with the exception of real estate properties, and the income therefrom, and all notes, bonds, debentures and other obligations issued by it, and the income therefrom shall be exempt from all taxation in the state of Tennessee. Also, for purposes of the Tennessee Securities Act of 1980, compiled in title 48, chapter 1, part 1, and any amendment thereto or substitution therefor, notes, bonds, debentures and other obligations issued by the corporation shall be deemed to be securities issued by a public instrumentality or a political subdivision of the state of Tennessee.
TN Code § 45-4-1201 (2021)
2021 Tennessee Code|Title 45 - Banks and Financial Institutions|Chapter 4 - Credit Unions|Part 12 - Volunteer Corporate Credit Union|§ 45-4-1201. Corporation Created — Articles of Incorporation

  There is created the volunteer corporate credit union, a nonprofit membership public corporation, sometimes referred to as “the corporation” in this part.   The corporation shall begin operations at any time within three (3) months after March 26, 1981, upon the adoption of articles of incorporation by the duly authorized representatives of not less than fifteen (15) credit unions chartered and existing under the laws of Tennessee. The articles of incorporation shall be subject to the approval of the commissioner, shall be filed with the secretary of state and with the commissioner of financial institutions, and shall be recorded in the register's office of Hamilton County.