(a) Each application for a license shall be accompanied by:

Terms Used In Tennessee Code 45-17-106

  • Commissioner: means the commissioner of financial institutions or the commissioner's designated representative. See Tennessee Code 45-17-102
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Licensee: means a person licensed to provide deferred presentment services pursuant to this chapter. See Tennessee Code 45-17-102
(1) A nonrefundable supervision fee, as provided in § 45-1-118(i); and
(2) A balance sheet and income statement for the immediately preceding fiscal year end, prepared in accordance with generally accepted accounting principles by a certified public accountant or public accounting firm. For a newly created entity, the commissioner may accept a balance sheet only, accompanied by a projected income statement demonstrating that the licensee will have adequate capital after payment of start-up costs.
(b) The supervision fee set forth in subdivision (a)(1) shall be applicable to each location.
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