Corporate form required — Capital stock and mutual associations authorized
Known as the Tennessee Savings and Loan Act
The act spans §§ 45–45 (137 sections).
Acts 1978, ch. 708, § 1.07; T.C.A., § 45-1307.
(1) No person, except a corporation chartered by the state of Tennessee or a federally chartered association, shall engage in the business of a savings and loan association in this state.
(2) The charter of an association may provide for the issuance of capital stock or for the organization of the association as a mutual association.
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.