(a) In addition to any other powers imposed upon the commissioner by law, the commissioner is authorized to require persons subject to this chapter to be registered through a multi-state automated licensing system. Pursuant to this authority, the commissioner may:
operating: means that:(A) A charter has been issued to a bank by the United States comptroller of the currency or a certificate of authority has been issued by the commissioner. See Tennessee Code 45-1-103
Person: means an individual, corporation, firm, trust, estate, partnership, joint venture or association, as the context may require. See Tennessee Code 45-5-102
(1) Promulgate any rules reasonably necessary for participation in, transition to, or operation of a multi-state automated licensing system;(2) Establish relationships or enter into agreements reasonably necessary for participation in, transition to, or operation of a multi-state automated licensing system. The agreements may include, but are not limited to, operating agreements, information sharing agreements, interstate cooperative agreements, and technology licensing agreements;(3) Require that applications for registration under this chapter and renewals of such registrations be filed with a multi-state automated licensing system;(4) Require that any fees required to be paid under this chapter be paid through a multi-state automated licensing system;(5) Establish deadlines for transitioning registrations to a multi-state automated licensing system. The commissioner may deny any applications or renewal applications not filed with a multi-state automated licensing system after the deadlines have passed, notwithstanding any other deadlines established elsewhere in this chapter. The commissioner shall provide reasonable notice of any transition deadlines to registrants; and(6) Take such further actions as are reasonably necessary to give effect to this section.(b) Nothing in this section authorizes the commissioner to require a person who is not subject to this chapter to submit information to, or participate in, a multi-state automated licensing system.(c) Notwithstanding any other provision of this section, the commissioner retains full authority and discretion to register persons under this chapter and to enforce this chapter. Nothing in this section reduces or derogates that authority and discretion.(d) Applicants for and holders of registrations issued under this chapter must pay all costs associated with submitting an application or transitioning a registration to a multi-state automated licensing system, as well as all costs associated with maintaining and renewing any registration issued by the commissioner on a multi-state automated licensing system.
