Events requiring notification by licensee to commissioner

Tenn. Code Ann. § 45-12-121, under Flexible Credit Act.

Tenn. Code Ann. § 45-12-121

(1) Within fifteen (15) days of the occurrence of any one (1) of the events listed in subdivisions (1)-(6), a licensee shall file a written report with the commissioner describing the event and its expected impact on the activities of the licensee in this state:(1) The filing for bankruptcy or reorganization by the licensee;(2) The institution of revocation or suspension proceedings against the licensee by any state or governmental authority;(3) The denial of the opportunity to engage in the business of making loans by any state or governmental authority;(4) Any felony indictment of the licensee or any of its directors, officers or principals;(5) Any felony conviction of the licensee or any of its directors, officers or principals; and(6) Other events that the commissioner may determine and identify by rule.

(1) The filing for bankruptcy or reorganization by the licensee;

(2) The institution of revocation or suspension proceedings against the licensee by any state or governmental authority;

(3) The denial of the opportunity to engage in the business of making loans by any state or governmental authority;

(4) Any felony indictment of the licensee or any of its directors, officers or principals;

(5) Any felony conviction of the licensee or any of its directors, officers or principals; and

(6) Other events that the commissioner may determine and identify by rule.