(a) It is unlawful for any director, officer, agent, or employee of an association, directly or indirectly, to:

Attorney's Note

Under the Tennessee Code, punishments for crimes depend on the classification. In the case of this section:
ClassPrisonFine
class B misdemeanorup to 6 monthsup to $500
For details, see Tenn. Code § 40-35-111

Terms Used In Tennessee Code 45-3-1304

  • Association: means a capital stock or mutual savings and loan association. See Tennessee Code 45-3-104
  • Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-3-104
  • Department: means the department of financial institutions. See Tennessee Code 45-1-103
  • Person: means an individual, firm, partnership, joint venture, trust, estate, unincorporated association, company, or corporation organized under the laws of this or any other state, the United States or foreign country. See Tennessee Code 45-3-104
(1)Maintenance of Accounts. Maintain or authorize the maintenance of any account of the association in a manner that, to the person‘s knowledge, does not conform to the requirements prescribed by this chapter;
(2)False Entries, etc. With intent to deceive, make any false or misleading statement or entry or omit any statement or entry that should be made in any book, account, report, or statement of the association; or
(3)Obstruction of Examination. Obstruct or endeavor to obstruct a lawful examination of the association by the commissioner, an examiner, or other employee of the department.
(b) A violation of this section is a Class B misdemeanor.
  Previous section
Next section  
 Part 13 Contents