Tennessee Code 45-3-1314 – Injunction
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Terms Used In Tennessee Code 45-3-1314
- 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
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
Whenever a violation of any provision of this chapter by any association or any director, officer, agent, or employee of the association is threatened or impending such that immediate and substantial injury to the association or to its depositors or stockholders will ensue, a court of competent jurisdiction shall, upon suit of the commissioner, issue an injunction restraining the violation.