Any state bank has the power to subscribe to the capital stock and become a member of a federal reserve bank.
Tenn. Code Ann. § 45-2-502
Power to subscribe to stock
Acts 1969, ch. 36, § 1 (3.323); T.C.A., § 45-302.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.