Tenn. Code Ann. § 45-2-504
This is the official text of Tenn. Code Ann. § 45-2-504, 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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Reserves of Federal Reserve Act sufficient
Official statutory text
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. Acts 1969, ch. 36, § 1 (3.323); T.C.A., § 45-304.
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.
Acts 1969, ch. 36, § 1 (3.323); T.C.A., § 45-304.
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.
Acts 1969, ch. 36, § 1 (3.323); T.C.A., § 45-304.
Status: in_force
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