Time for Approval or Denial of Application — Conditions for Approval

  1. Law
  2. Tennessee Code
  3. Banks and Financial Institutions
  4. Banking Institutions
  5. Organization of Banks
  6. Time for Approval or Denial of Application — Conditions for Approval

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The commissioner shall approve or deny the application for a certificate of authority within thirty (30) days after the application has been filed. The commissioner shall approve the application if:

  1. The capital and surplus have been fully paid in cash;
  2. Appropriate bylaws have been adopted;
  3. Any conditions imposed by the commissioner in granting the charter have been fulfilled;
  4. The requirements of this chapter and chapter 1 of this title have been satisfied; and
  5. An amount of fidelity bond coverages satisfactory to the commissioner is in force.


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