Tenn. Comp. R. & Regs. 0780-01-27-.11 - INVESTMENTS WITH BANKS- DEFINITION
An investment with a bank shall mean, and be limited to, a deposit of the funds of an association with a bank. It shall include demand deposits and certificates of deposit. It shall not include a loan or other advance to a bank or an investment in bank stock. As used in these regulations, certificate of deposit shall include a time deposit and any other deposit, by whatever name it may be called, on which the association shall directly or indirectly receive any compensation whatsoever therefor in excess of the deposit itself, by way of interest, dividend or otherwise. Demand deposits shall include all other deposits, except certificates of deposit as defined above.
Notes
Authority: T.C.A. ยง45-1303.
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