Tennessee · Snapshot open-us-law v2026.08, retrieved 2026-09-17

Tenn. Code Ann. § 45-2-2003: Remedies

(a) If a private trust company violates any provisions of this chapter, the commissioner may: (1) Institute any action or remedy prescribed by this chapter and chapter 1 of this title, or any applicable rule; or (2) Refer the private trust company to the attorney general and reporter for institution of a quo warranto proceeding to revoke the charter. (b) After notice and an opportunity for a hearing pursuant to the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, the commissioner shall have authority to revoke the exempt status of a private trust company in the following circumstances: (1) The exempt private trust company makes a false statement under oath on any document required to be filed by the department; (2) The exempt private trust company fails to submit to an examination as required by this chapter; (3) The exempt private trust company withholds requested information from the commissioner; or (4) The exempt private trust company violates any provision applicable to exempt private trust companies. (c) After taking effect, the revocation is final and nonappealable as to that private trust company. The private trust company shall then be subject to all of the requirements and provisions applicable to non-exempt state trust companies within the period of time that the commissioner determines reasonable and circumstances warrant. Acts 1999, ch. 112, § 18.
(a) If a private trust company violates any provisions of this chapter, the commissioner may: (1) Institute any action or remedy prescribed by this chapter and chapter 1 of this title, or any applicable rule; or (2) Refer the private trust company to the attorney general and reporter for institution of a quo warranto proceeding to revoke the charter.
(1) Institute any action or remedy prescribed by this chapter and chapter 1 of this title, or any applicable rule; or
(2) Refer the private trust company to the attorney general and reporter for institution of a quo warranto proceeding to revoke the charter.
(b) After notice and an opportunity for a hearing pursuant to the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, the commissioner shall have authority to revoke the exempt status of a private trust company in the following circumstances: (1) The exempt private trust company makes a false statement under oath on any document required to be filed by the department; (2) The exempt private trust company fails to submit to an examination as required by this chapter; (3) The exempt private trust company withholds requested information from the commissioner; or (4) The exempt private trust company violates any provision applicable to exempt private trust companies.
(1) The exempt private trust company makes a false statement under oath on any document required to be filed by the department;
(2) The exempt private trust company fails to submit to an examination as required by this chapter;
(3) The exempt private trust company withholds requested information from the commissioner; or
(4) The exempt private trust company violates any provision applicable to exempt private trust companies.
(c) After taking effect, the revocation is final and nonappealable as to that private trust company. The private trust company shall then be subject to all of the requirements and provisions applicable to non-exempt state trust companies within the period of time that the commissioner determines reasonable and circumstances warrant.

Where this section sits in the code

TN Code
Title 45
Chapter 2

(1) Institute any action or remedy prescribed by this chapter and chapter 1 of this title, or any applicable rule; or

(2) Refer the private trust company to the attorney general and reporter for institution of a quo warranto proceeding to revoke the charter.

(b) After notice and an opportunity for a hearing pursuant to the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, the commissioner shall have authority to revoke the exempt status of a private trust company in the following circumstances: (1) The exempt private trust company makes a false statement under oath on any document required to be filed by the department; (2) The exempt private trust company fails to submit to an examination as required by this chapter; (3) The exempt private trust company withholds requested information from the commissioner; or (4) The exempt private trust company violates any provision applicable to exempt private trust companies.

(1) The exempt private trust company makes a false statement under oath on any document required to be filed by the department;

(2) The exempt private trust company fails to submit to an examination as required by this chapter;

(3) The exempt private trust company withholds requested information from the commissioner; or

(4) The exempt private trust company violates any provision applicable to exempt private trust companies.

(c) After taking effect, the revocation is final and nonappealable as to that private trust company. The private trust company shall then be subject to all of the requirements and provisions applicable to non-exempt state trust companies within the period of time that the commissioner determines reasonable and circumstances warrant.

Collected 2026-09-17T21:51:56Z. Source file · JSON

Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License

Tennessee electronic product files were republished by Public.Resource.Org under a public-domain mark. GroundRules uses enacted text from Release 76 only as a labeled supplement to the newer Open US Law rows. Source

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