Title 45, Banks And Financial Institutions

(a) The commissioner has the power to establish regulations to:(1) Carry out the legislative purposes of this chapter;(2) Provide for the safe and sound operation of state-chartered savings banks; and(3) Establish from time to time reasonable fees for various applications made to…

(a) Any charter issued under this chapter shall be null and void if:(1) The institution for which the charter was issued does not commence operations within five (5) years of the date the charter was issued; provided, that the commissioner may act to extend the time to allow the …

This chapter shall be known and may be cited as the “Tennessee Title Pledge Act.”

(1) The making of title pledge loans vitally affects the general economy of this state and the public interest and welfare of its citizens. It is the policy of this state and the purpose of this chapter to:(1) Ensure a sound system of making title pledge loans through statewide l…

(1) As used in this chapter, unless the context otherwise requires:(1) “Commissioner” means the commissioner of financial institutions or the commissioner's designated representative;(2) “Control” means possession, direct or indirect, of the power to direct or cause the direction…

(a) A title pledge lender licensed pursuant to this chapter has the power to make loans of money on pledges of personal property certificates of title or on pledges of titled personal property in accordance with this chapter. (b) Title pledge lenders licensed pursuant to this cha…

(a) No person shall engage in the business of title pledge lending without having first obtained a license. A separate license shall be required for each location from which the business is conducted. Any person engaged in the business of title pledge lending on November 1, 2005,…

(a) To qualify for a license, an applicant shall satisfy the following requirements:(1) The applicant has a tangible net worth that comprises tangible assets less liabilities of not less than seventy-five thousand dollars ($75,000) for each location; and(2) The financial responsi…

(a) The commissioner may, after notice and opportunity for a hearing, suspend or revoke any license, if the commissioner finds that the title pledge lender has knowingly or through lack of due care:(1) Engaged in conduct of a manner that would warrant the denial of an application…

(a) The commissioner may promulgate reasonable regulations, in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, for the enforcement of this chapter. A copy of any rule or regulation adopted by the commissioner shall be mailed to each lice…

(a) (1) Each title pledge lender shall notify the commissioner fifteen (15) days prior to any change in the principal place of business of a title pledge lender.(2) Each title pledge lender shall notify the commissioner in writing within fifteen (15) days of any change among the …

(a) Every title pledge lender shall keep a consecutively numbered record of each and every title pledge agreement or property pledge agreement executed by the title pledge lender and pledgor. The record, as well as the title pledge agreement or property pledge agreement itself, s…

(a) A title pledge lender shall contract for and receive an effective rate of interest not to exceed two percent (2%) per month; additionally, the title pledge lender may charge, contract for, and receive a customary fee to defray the ordinary costs of operating a title pledge of…

Except as otherwise provided in this chapter, the pledgor, upon presentation of suitable identification, shall be entitled to redeem the titled personal property and/or certificate of title described therein upon satisfaction of all outstanding obligations pursuant to the title p…

(a) Title pledge agreements and property pledge agreements made pursuant to this chapter shall not exceed thirty (30) days in length. However, the agreements may provide for renewals for additional thirty-day periods, which may occur automatically, unless one (1) of the following…

(a) Upon expiration of a property pledge agreement and the final renewal of the agreement, if any, the title pledge lender shall retain possession of the titled personal property and the certificate of title for at least twenty (20) days. If the pledgor fails to redeem the titled…

(1) A title pledge lender shall not:(1) Accept a pledge from a person less than eighteen (18) years of age, or from anyone who appears to be intoxicated;(2) Make any agreement giving the title pledge lender any recourse against the pledgor, other than the title pledge lender's ri…

Every title pledge lender licensed under this chapter shall provide a safe place for the keeping of the pledged property. The title pledge lender shall have sufficient insurance coverage on the pledged property, in the event of loss or damage, for the benefit of the pledgor to pa…

Any person who intentionally violates any provision of this chapter commits a Class A misdemeanor.

(a) If, after notice and opportunity for a hearing, the commissioner finds that a person has violated this chapter, or any administrative regulation issued pursuant to this chapter, the commissioner may take any or all of the following actions:(1) Order the person to cease and de…

No incorporated municipality, city or taxing district in this state shall enact an ordinance or resolution or promulgate any rules or regulations relating to this chapter. Any ordinance or resolution or rules or regulations of any municipality, city or taxing district relative to…

Title 55, chapter 17, shall apply to all sales and transfers of any motor vehicle acquired under this chapter.

(a) In addition to any other powers imposed upon the commissioner by law, the commissioner is authorized to require persons subject to this chapter to be licensed through a multi-state automated licensing system. Pursuant to this authority, the commissioner may:(1) Promulgate any…

The commissioner is authorized to use a multi-state automated licensing system as an agent for channeling information, whether criminal or noncriminal in nature, and whether derived from or distributed to the United States department of justice, any other state or federal governm…

(1) In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing:(1) The requirements under any federal or state law regarding the privacy or confidentiality of any information or material provided to a multi-state automated l…

(1) As used in this chapter, unless the context otherwise requires:(1) “Electronic terminal” means an electronic device through which a person may initiate an electronic fund transfer to access the person's deposit, share, or other accounts or credit facility, and includes, but i…

An agreement to share electronic terminals or participate in a shared electronic network shall not prohibit, limit, or restrict the right of a financial institution to charge a usage fee for use of its electronic terminals, require a financial institution to limit or waive its ri…

A financial institution may impose and collect a usage fee on a foreign access card; provided, that the usage fee may only be charged if the imposition of the fee is disclosed at a time and in a manner that allows the user to terminate or cancel the transaction without incurring …

The commissioner of financial institutions is authorized to promulgate rules and regulations to effectuate the purposes of this chapter.

(1) As used in this part:(1) “Electronic terminal”:(A) Means an electronic device through which a person may initiate an electronic fund transfer to access the person's deposit, share, or other accounts or credit facility; and(B) Includes an automated teller machine, cash dispens…

(a) It is an offense for a virtual currency kiosk operator or other person to knowingly install or allow installation of, permit, place, or otherwise operate a virtual currency kiosk in this state. (b) A violation of subsection (a) is a Class A misdemeanor.

This chapter shall be known and may be cited as the “Deferred Presentment Services Act.”

(1) As used in this chapter, unless the context otherwise requires:(1) “Check” means any payment instrument, including any customer authorization for electronic payment;(2) “Commissioner” means the commissioner of financial institutions or the commissioner's designated representa…

(a) No person shall engage in the business of deferred presentment services in this state through the use of the internet, facsimile, telephone, or other means without having first obtained a license. A person shall be deemed to be engaged in the business of deferred presentment …

(a) To qualify for a license, an applicant shall satisfy the following requirements:(1) The applicant shall have a minimum net worth determined in accordance with generally accepted accounting principles of at least twenty-five thousand dollars ($25,000) available for the operati…

(1) Each application for a license shall be in writing and under oath to the commissioner, in a form prescribed by the commissioner, and shall include the following:(1) The legal name, residence and business address of the applicant and, if the applicant is a partnership, associa…

(a) Each application for a license shall be accompanied by:(1) A nonrefundable supervision fee, as provided in § 45-1-118(i); and(2) A balance sheet and income statement for the immediately preceding fiscal year end, prepared in accordance with generally accepted accounting princ…

(a) Upon the filing of an application in a form prescribed by the commissioner, accompanied by the fee and documents required in § 45-17-106, the commissioner shall investigate to ascertain whether the qualifications prescribed by § 45-17-104 have been satisfied. If the commissio…

(a) A license issued pursuant to this chapter is not transferable or assignable. (b) The prior written approval of the commissioner is required for the continued operation of a deferred presentment services business whenever a change in control of a licensee is proposed. “Control…

(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…

(a) Licenses issued pursuant to this chapter shall expire on December 31. A license may be renewed for the ensuing twelve-month period upon application by the license holder showing continued compliance with the requirements of § 45-17-104 and the payment to the commissioner annu…

(a) The commissioner may promulgate reasonable regulations in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, for the enforcement of this chapter. A copy of any rule or regulation adopted by the commissioner shall be mailed to the princi…

(a) Each licensee shall keep and use in its business any books, accounts and records the commissioner may require to carry into effect this chapter and the administrative regulations issued hereunder. Every licensee shall preserve the books, accounts and records for at least two …

(a) If the commissioner determines that an applicant is not qualified to receive a license, the commissioner shall notify the applicant in writing that the application has been denied, stating the basis for denial. (b) If the commissioner denies an application, or if the commissi…

(a) The commissioner may, after notice and hearing, suspend or revoke any license if the commissioner finds that the licensee has knowingly or through lack of due care:(1) Failed to pay any fees or assessments imposed by the commissioner under this chapter;(2) Has committed any f…

(1) If, after notice and opportunity for a hearing, the commissioner finds that a person has violated this chapter, or any administrative regulation issued pursuant thereto, the commissioner may:(1) Order the person to cease and desist violating the chapter or any administrative …