(a) A savings bank may accept deposits that:

Terms Used In Tennessee Code 45-14-104

  • 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
  • Fiduciary: A trustee, executor, or administrator.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • savings bank: as used in this chapter , means a depository institution chartered pursuant to this chapter. See Tennessee Code 45-14-103
  • 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
  • Trustee: A person or institution holding and administering property in trust.
(1) May be withdrawn on a demand or other basis;
(2) May be negotiable instruments of the savings bank; and
(3) It may pay interest upon.
(b) A savings bank may borrow, give security, and issue securities, (including capital stock), notes, bonds, debentures and other obligations.
(c) A savings bank may invest in, sell or otherwise deal in the accounts, investments and loans, in the same manner as is provided for associations in chapter 3 of this title, and the regulations issued under that chapter.
(d) A savings bank may:

(1) Issue credit cards, extend credit in connection therewith, and otherwise engage in or participate in credit card operations;
(2) Establish, maintain and close offices, branches, remote service units, automated teller machines and other facilities on the same basis as savings institutions chartered under the laws of this state; and
(3) Carry on a trust business, which may encompass acting as trustee, executor, administrator, guardian or in any other fiduciary capacity, on the same basis, and subject to the same requirements with regard to the business, as may commercial banks, trust companies and other corporations authorized under the laws of this state and the regulations under the laws to carry on the business.
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