(a)Each licensee shall submit a report of condition within forty-five (45) days after the end of the calendar quarter, or within any extended time as the commissioner may prescribe.

Terms Used In Tennessee Code 45-7-120

  • Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-7-103
  • 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.
  • Licensee: means a person licensed under this chapter. See Tennessee Code 45-7-103
  • Money transmission: means the sale or issuance of payment instruments or engaging in the business of receiving money for transmission or transmitting money within the United States or to locations abroad by any and all means, including, but not limited to, payment instrument, wire, facsimile or electronic transfer. See Tennessee Code 45-7-103
  • Permissible investments: means :
    (A) Cash. See Tennessee Code 45-7-103
  • United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(b) The report of condition must include:

(1) Financial information at the licensee level;
(2) Nationwide and state-specific money transmission transaction information in every jurisdiction in the United States where the licensee is licensed to engage in money transmission;
(3) Permissible investments reports;
(4) Transaction destination country reporting for money received for transmission; and
(5) Any other information the commissioner requires with respect to the licensee. The commissioner is authorized to change or update, as necessary, the requirements of this section to carry out the purposes of this chapter and maintain consistency with NMLS reporting.
(c) The information required by subdivision (b)(4) must only be included in a report of condition submitted within forty-five (45) days after the end of the fourth calendar quarter.
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