(a) The commissioner may revoke any savings bank charter issued under this chapter if the commissioner finds, after notice and an opportunity for a hearing, that the savings bank willfully and consistently has been conducting its business in a manner that is substantially and materially inconsistent with the objective of this chapter, or if in violation of this chapter or any regulations promulgated thereunder.

Terms Used In Tennessee Code 45-14-112

  • Bank: means any person, as hereinafter defined, doing a banking business subject to the laws of this or any other jurisdiction and, for the purposes of supervision, examination and liquidation, includes industrial investment companies and industrial banks authorized by chapter 5 of this title. See Tennessee Code 45-1-103
  • commissioner: is a uthorized to provide for the organization, chartering, incorporation, examination, operation, regulation, safety and soundness of savings banks. See Tennessee Code 45-14-103
  • savings bank: as used in this chapter , means a depository institution chartered pursuant to this chapter. See Tennessee Code 45-14-103
(b) The commissioner shall revoke any savings bank charter issued under this chapter if the commissioner finds, after notice and an opportunity for a hearing, that the savings bank is violating § 45-14-103(g).
(c) The commissioner shall issue regulations providing for the voluntary surrender of savings bank charters issued under this chapter.
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