(a) Any state association, as defined in § 45-3-1402, may establish and maintain branch or satellite offices or other facilities for the conduct of its business at any location in any county in this state.

Terms Used In Tennessee Code 45-3-301

  • Association: means a capital stock or mutual savings and loan association. See Tennessee Code 45-3-104
  • 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
  • Depository institution: means any company included for any purpose within any of the definitions of insured depository institution, as set forth in 12 U. See Tennessee Code 45-1-103
  • Home state: means :
    (A) With respect to a federally chartered trust institution and a foreign bank, the state in which the institution maintains its principal office. See Tennessee Code 45-1-103
  • 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accounts of which are insured by the [former] federal savings and loan insurance corporation (FSLIC) or any successor [repealed] of such corporation.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
(b) No branch of an out-of-state savings and loan association or savings bank, or savings institution, may be established through the establishment of a de novo branch, unless the laws of the home state of the out-of-state savings institution permit Tennessee savings institutions to establish and maintain branches in that state through the establishment of de novo branches under substantially the same terms and conditions as set forth in this title.
(c) For purposes of this section, “de novo branch” means a branch of a savings institution that:

(1) Is originally established by the savings institution as a branch; and
(2) Does not become a branch of the savings institution as a result of:

(A) The acquisition by the savings institution of an insured depository institution or a branch of an insured depository institution; or
(B) The conversion, merger, or consolidation of the institution or branch.
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