Tenn. Comp. R. & Regs. 0180-19-.09 - REAL ESTATE DEVELOPMENT ACTIVITIES
(1) Real estate
development activities can only be performed in a subsidiary of the
bank.
(2) Notwithstanding any other
provision of this rule, no bank shall invest more than twenty-five percent
(25%) of the bank's capital in the development of any single piece of real
property or real estate project. Inclusive in this limit is any investment in
real property being developed that was acquired under T.C.A. §
45-2-607(a)(9).
(3) The application requirements of Rule
0180-19-.06 shall apply to any subsidiary seeking to engage in real estate
development activities.
Notes
Authority: T.C.A. § 45-1-107; 45-2-601;45-2-602 and 45-2-607(a)(9).
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