As used in this chapter, unless the context otherwise requires:

(1) “Capital stock financial institution” means a financial institution, the ownership of which rests in the holders of shares of capital stock, who may receive dividends on their shares, and who have the sole right to vote on matters affecting the financial institution;

Terms Used In Tennessee Code 45-11-102

  • 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
  • Company: includes a bank, trust company, corporation, partnership, association, business or other trust, or similar business entity. See Tennessee Code 45-1-103
  • Deposit: means a deposit of money, bonds or other things of value, creating a debtor-creditor relationship. See Tennessee Code 45-1-103
  • Financial institution: means a savings and loan association, bank, savings bank, credit union, or trust company organized under the laws of any state or organized under the laws of the United States. See Tennessee Code 45-11-102
  • Savings and loan association: includes a building and loan association, a federal or state savings and loan association, a federal savings bank, and any other financial institution, the accounts of which are insured by the federal savings and loan insurance corporation (FSLIC) or any successor of such corporation. See Tennessee Code 1-3-105
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(2) “Converting institution” means a financial institution converting to another type of financial institution;
(3) “Financial institution” means a savings and loan association, bank, savings bank, credit union, or trust company organized under the laws of any state or organized under the laws of the United States;
(4) “Mutual financial institution” means an association or savings bank or credit union, the ownership of which rests in members who receive interest on their deposit accounts, and who have the sole right to vote on all matters affecting the financial institution; and
(5) “Resulting financial institution” means the financial institution resulting from a conversion and having its principal place of business in this state.
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