Tenn. Comp. R. & Regs. 0180-15-.02 - DEFINITIONS

Current through March 20, 2022

As used in this Chapter unless the context requires otherwise:

(1) "Acquire" means:

(a) The merger or consolidation of a financial institution with another financial institution or a financial institution holding company;

(b) The direct or indirect acquisition by a financial institution holding company of all or substantially all of the assets of another financial institution holding company or of a financial institution;

(c) The acquisition by a bank holding company of direct or indirect ownership or control of voting shares of another bank holding company or bank, if after such acquisition, the bank holding company making the acquisition will directly or indirectly own or control more than twenty-five percent (25%) of any class of voting shares of the other bank holding company or bank;

(d) The acquisition by a savings and loan holding company of direct or indirect ownership or control of voting shares of another savings and loan holding company or savings association, if after such acquisition, the savings and loan holding company making the acquisition will directly or indirectly own or control more than five percent (5%) of any class of voting shares of the other savings and loan holding company or savings association; or

(e) Any other action that would result in direct or indirect control by a financial institution holding company or financial institution.

(2) "In-State Financial Institution" means any bank, savings association or savings bank whose home state is Tennessee.

(3) "Out-of-State Financial Institution" means a bank, savings association, or savings bank whose home state is a state other than Tennessee.

(4) "Out-of-State Holding Company" means a holding company whose home state is a state other than Tennessee which has bank, savings association, or savings bank subsidiaries.

(5) "Tennessee Holding Company" means a holding company whose home state is Tennessee which has bank, savings association, or savings bank subsidiaries.

(6) "Financial Institution" means a bank, savings association or savings bank.

Notes

Tenn. Comp. R. & Regs. 0180-15-.02

Original rule filed November 25, 1975; effective December 27, 1975. Amendment filed February 17, 1984; effective May 15, 1984. Repeal and new rule filed December 31, 1996; effective April 30, 1997.

Authority: T.C.A. §§ 45-1-107, 45-2-1302, 45-2-1405, 45-3-801, 45-3-1104, 45-3-1402, 45-3-1403, 45-14-103, and 45-14-113.