(a) A licensee shall maintain not less than one (1) office in the state.

Terms Used In Tennessee Code 45-8-211

  • Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-8-203
  • Licensee: means a Tennessee corporation that is licensed under this part. See Tennessee Code 45-8-203
  • State: means the state of Tennessee. See Tennessee Code 45-8-203
  • Well capitalized: means , in the case of a licensee under this part, a licensee that has stockholders' equity at least equal to the greater of ten million dollars ($10,000,000) or fifteen percent (15%) of total assets, that is not subject to any administrative enforcement action or order and the condition of which was considered as satisfactory in its last examination in the opinion of the commissioner. See Tennessee Code 45-8-203
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(b) Each office of a licensee, whether within or outside of the state, shall be located in a place that is reasonably accessible to the public.
(c) A licensee shall maintain at each of its offices personnel who are competent to conduct the business of the office.
(d) Upon written notice to and consent from the commissioner, a licensee may establish, relocate or close an office, except that no consent shall be required if the licensee is well capitalized.
  Previous section
Next section  
 Part 2 Contents