{"data":{"id":"us-tn/tenn.-code-ann.-45-14-114","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 45-14-114","heading":"Void and null charters and certificates of authority","body":"(a) Any charter issued under this chapter shall be null and void if: (1) The institution for which the charter was issued does not commence operations within five (5) years of the date the charter was issued; provided, that the commissioner may act to extend the time to allow the commencement of operations; or (2) An institution that is chartered and commences business ceases to conduct business and no operations or business are conducted for a period of five (5) years. (b) Any certificate of authority issued under this chapter shall be null and void if substantially all of the assets of a savings bank are acquired without acquiring the charter. Acts 1991, ch. 177, § 16; 2001, ch. 54, § 32.\n(a) Any charter issued under this chapter shall be null and void if: (1) The institution for which the charter was issued does not commence operations within five (5) years of the date the charter was issued; provided, that the commissioner may act to extend the time to allow the commencement of operations; or (2) An institution that is chartered and commences business ceases to conduct business and no operations or business are conducted for a period of five (5) years.\n(1) The institution for which the charter was issued does not commence operations within five (5) years of the date the charter was issued; provided, that the commissioner may act to extend the time to allow the commencement of operations; or\n(2) An institution that is chartered and commences business ceases to conduct business and no operations or business are conducted for a period of five (5) years.\n(b) Any certificate of authority issued under this chapter shall be null and void if substantially all of the assets of a savings bank are acquired without acquiring the charter.","path":["TN Code","Title 45","Chapter 14"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_tn_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:26Z","sha256":"165472350ff61bf49830193350f5320effe3a838182e9cd689924350b9386ecc","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-45-14-113","next":"us-tn/tenn.-code-ann.-45-15-101"},"notice":"GroundRules: Original legal text. Not legal advice."}