Tenn. Code Ann. § 45-2-1404
This is the official text of Tenn. Code Ann. § 45-2-1404, part of Tennessee’s Code Ann — part of the compiled statutory law of Tennessee, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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Acquisition by holding company prohibited
Official statutory text
A bank or bank holding company shall be prohibited from acquiring any bank in Tennessee if the bank or bank holding company, including all insured depository institutions that are affiliates of the bank or bank holding company, upon consummation of the acquisition, would control thirty percent (30%) or more of the total amount of the deposits of the insured depository institutions in Tennessee. For purposes of this part, "deposit" has the meaning set forth in § 3( l ) of the Federal Deposit Insurance Act ( 12 U.S.C. § 1813 ( l )). Acts 1974, ch. 469, § 4; T.C.A., § 45-622; Acts 1995, ch. 165, § 2.
A bank or bank holding company shall be prohibited from acquiring any bank in Tennessee if the bank or bank holding company, including all insured depository institutions that are affiliates of the bank or bank holding company, upon consummation of the acquisition, would control thirty percent (30%) or more of the total amount of the deposits of the insured depository institutions in Tennessee. For purposes of this part, "deposit" has the meaning set forth in § 3( l ) of the Federal Deposit Insurance Act ( 12 U.S.C. § 1813 ( l )).
Acts 1974, ch. 469, § 4; T.C.A., § 45-622; Acts 1995, ch. 165, § 2.
A bank or bank holding company shall be prohibited from acquiring any bank in Tennessee if the bank or bank holding company, including all insured depository institutions that are affiliates of the bank or bank holding company, upon consummation of the acquisition, would control thirty percent (30%) or more of the total amount of the deposits of the insured depository institutions in Tennessee. For purposes of this part, "deposit" has the meaning set forth in § 3( l ) of the Federal Deposit Insurance Act ( 12 U.S.C. § 1813 ( l )).
Acts 1974, ch. 469, § 4; T.C.A., § 45-622; Acts 1995, ch. 165, § 2.
Status: in_force
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