Tenn. Code Ann. § 45-2-219
This is the official text of Tenn. Code Ann. § 45-2-219, 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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Charter null and void on ceasing business - Definition
Official statutory text
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: (1) Receiving deposits, paying out money on checks and making loans; or (2) Acting as a fiduciary for the purposes of a trust company. Acts 1999, ch. 112, § 5.
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:
(1) Receiving deposits, paying out money on checks and making loans; or
(2) Acting as a fiduciary for the purposes of a trust company.
Acts 1999, ch. 112, § 5.
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:
(1) Receiving deposits, paying out money on checks and making loans; or
(2) Acting as a fiduciary for the purposes of a trust company.
Acts 1999, ch. 112, § 5.
Status: in_force
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