§ 45-1-101 Short Title
§ 45-1-102 Purpose — Standards for Exercise of Authority by Commissioner — Rules of Construction
§ 45-1-103 General Definitions
§ 45-1-104 Department to Execute Laws
§ 45-1-105 Commissioner, Deputy and Assistant Commissioners — Qualifications — Vacancy
§ 45-1-106 Salary of Commissioner
§ 45-1-107 Powers and Duties of Commissioner
§ 45-1-108 Review of Commissioner’s Orders — Enforcement
§ 45-1-109 Oaths of Office
§ 45-1-110 [reserved.]
§ 45-1-112 Official Seal
§ 45-1-113 Office Facilities
§ 45-1-114 Removal of Commissioner From Office — Causes — Procedure
§ 45-1-115 Divisions Within Department — Classification and Salaries of Department Positions
§ 45-1-116 Examiners — Employment and Duties
§ 45-1-117 Banking Interests of Employees of Department — Criminal History Records Check
§ 45-1-118 Charter Application Costs — Annual Banking Fee — Assessments — Recovering the Costs of Examination and Supervision
§ 45-1-119 Annual Report
§ 45-1-120 Records of Department
§ 45-1-121 Traveling Expenses
§ 45-1-122 Suits to Vacate and Annul Bank Charters
§ 45-1-123 Legal Counsel for Commissioner
§ 45-1-124 Application of This Chapter and Chapter 2 of This Title
§ 45-1-125 Liability of Director or Officer of Financial Institution in Receivership or Reorganization
§ 45-1-126 Compliance Review Documents — Confidentiality
§ 45-1-127 Fiduciary Responsibilities or Liabilities of Financial Institutions, Officers or Employees
§ 45-1-128 [reserved.]
§ 45-1-130 License, Certification or Registration — Notifications — Prerequisites — Website

Terms Used In Tennessee Code > Title 45 > Chapter 1 > Part 1 - Department of Financial Institutions

  • acting as a fiduciary: means to act in the capacity of a fiduciary as defined in §. See Tennessee Code 45-1-103
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Bank: means any person, as hereinafter defined, doing a banking business subject to the laws of this or any other jurisdiction and, for the purposes of supervision, examination and liquidation, includes industrial investment companies and industrial banks authorized by chapter 5 of this title. See Tennessee Code 45-1-103
  • Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-1-103
  • Company: includes a bank, trust company, corporation, partnership, association, business or other trust, or similar business entity. See Tennessee Code 45-1-103
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • 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
  • Depository institution: means any company included for any purpose within any of the definitions of insured depository institution, as set forth in 12 U. See Tennessee Code 45-1-103
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiduciary: A trustee, executor, or administrator.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Foreign bank: means a foreign bank, as defined in the International Banking Act of 1978 § 1(b)(7) (12 U. See Tennessee Code 45-1-103
  • Good faith: means honesty in fact in the conduct or transaction concerned. See Tennessee Code 45-1-103
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • 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.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Oath: includes affirmation. See Tennessee Code 1-3-105
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • operating: means that:
    1. 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
    2. Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
    3. Person: means an individual, corporation, firm, trust, estate, partnership, joint venture, or association. See Tennessee Code 45-1-103
    4. Property: includes both personal and real property. See Tennessee Code 1-3-105
    5. Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
    6. Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
    7. Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) Source: OCC
    8. Savings and loan association: includes a building and loan association, a federal or state savings and loan association, a federal savings bank, and any other financial institution, the accounts of which are insured by the federal savings and loan insurance corporation (FSLIC) or any successor of such corporation. See Tennessee Code 1-3-105
    9. State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
    10. State bank: means any bank chartered by this state. See Tennessee Code 45-1-103
    11. State trust company: means a corporation or limited liability company organized or reorganized under the Tennessee Banking Act, compiled in this chapter and chapter 2 of this title, whose purposes and powers are limited to fiduciary purposes and power, including a trust company previously organized under the laws of this state. See Tennessee Code 45-1-103
    12. Statute: A law passed by a legislature.
    13. Subpoena: A command to a witness to appear and give testimony.
    14. Trust company: means a state trust company or any other company chartered to act as a fiduciary that is neither a depository institution nor a foreign bank. See Tennessee Code 45-1-103
    15. Trust institution: means a depository institution, foreign bank, state bank or trust company authorized to act as a fiduciary. See Tennessee Code 45-1-103
    16. Trust office: means an office, other than the principal office, at which a trust institution is authorized by the commissioner to act as a fiduciary. See Tennessee Code 45-1-103
    17. Trustee: A person or institution holding and administering property in trust.
    18. United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
    19. Writ: A formal written command, issued from the court, requiring the performance of a specific act.
    20. written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
    21. Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105