Tennessee Code 9-4-510 – Guarantee to public depositors against loss
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Terms Used In Tennessee Code 9-4-510
- Loss: includes , but is not limited to:
(A) The principal amount of the public deposit. See Tennessee Code 9-4-502 - Public depository: means :
(i) Any savings and loan association, or savings bank (collectively referred to as savings institutions), or any bank chartered by the state of Tennessee. See Tennessee Code 9-4-502
A qualified public depository shall guarantee public depositors against loss caused by the default or insolvency of other qualified public depositories as provided in § 9-4-512.