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20 chapters · 794 sections in this title.
Tenn. Code Ann. § 45-12-101 Short title
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This chapter shall be known and may be cited as the “Flexible Credit Act.”
Tenn. Code Ann. § 45-12-102 Chapter definitions
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(1) As used in this chapter, unless the context otherwise requires:(1) “Commissioner” means the commissioner of financial institutions or the commissioner's designee;(2) (A) “Control” means possession, direct or indirect, of the power to direct or cause the direction of managemen…
Tenn. Code Ann. § 45-12-103 License required to engage in business of making flex loans — Designation of agent for service of process by nonresident licensees
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(a) No person shall engage in the business of making flex loans unless the person is licensed to make flex loans pursuant to this chapter. A person shall be deemed to be engaged in the business of making flex loans in this state if the person induces a consumer, while located in …
Tenn. Code Ann. § 45-12-104 Qualifications for licensure — Continuing nature
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(a) To qualify for a license to make flex loans, an applicant shall meet the following requirements:(1) The applicant has a tangible net worth that comprises tangible assets less liabilities of not less than fifty thousand dollars ($50,000) for each location; and(2) The financial…
