(a) An association may decline to disclose its books, papers and other records, except:

Terms Used In Tennessee Code 45-3-807

  • 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
  • Deposit: means a deposit of money, bonds or other things of value, creating a debtor-creditor relationship. See Tennessee Code 45-1-103
  • Member: means a person holding a deposit account of a mutual association. See Tennessee Code 45-3-104
  • Stockholder: means the holder of one (1) or more shares of any class of capital stock of a capital stock association organized and operating pursuant to this chapter. See Tennessee Code 45-3-104
  • Subpoena: A command to a witness to appear and give testimony.
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(1) Pursuant to court order or subpoena;
(2) To the commissioner and any authorized examiners, attorneys, or other employees of the department;
(3) To the members of the board of directors of the association; or
(4) To the holder of a deposit account, or a member or a stockholder to the extent of records concerning the deposit holder’s, member’s, or stockholder’s respective account only.
(b) A stockholder may make written request for access to other books, papers, and records of the association for any proper purpose, in which event the association may request a determination from the commissioner as to whether a proper purpose exists, and the determination of the commissioner shall be conclusive.
(c) A stockholder may include in the stockholder’s written request that a communication be transmitted to the stockholders of the association, and upon payment of reasonable costs therefor, the association shall cause the communication to be transmitted to the stockholders immediately, subject to regulation by the commissioner.
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