A mutual savings and loan holding company may acquire control of a subsidiary, association, or mutual savings and loan holding company upon application to and the prior written approval of the commissioner. The application shall be in the form prescribed by the commissioner and shall contain information that enables the commissioner to determine if the acquisition is consistent with the public interest of maintaining a sound financial system.
Tenn. Code Ann. § 45-3-1505
Acquisitions — Application — Approval required
Known as the Tennessee Savings and Loan Act
The act spans §§ 45-3-1001 to 45-3-901 (137 sections).
Acts 1989, ch. 354, § 5.
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.