{"data":{"id":"us-tn/tenn.-code-ann.-45-2-2107","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 45-2-2107","heading":"Adequate capital structure - Factors considered","body":"(a) No state trust company shall be organized with capital of less than five hundred thousand dollars ($500,000), or such greater amount as may be required by the commissioner after considering the factors in this section. (b) The commissioner may at any time prescribe a capital structure for a state trust company that the commissioner deems adequate for it to operate in a safe and sound manner. The commissioner shall consider the following factors in determining an adequate capital structure: (1) The nature and type of business conducted or to be conducted; (2) The nature and liquidity of assets currently held or to be held in the state trust company's own account; (3) The amount of fiduciary assets currently or projected to be under management or administration; (4) The type of fiduciary assets currently held or proposed to be held, and the depository of such assets; (5) The complexity of fiduciary duties and degree of discretion proposed currently or to be undertaken; (6) The competence and experience of current or proposed management; (7) The extent and adequacy of internal controls; (8) The reasonableness of any business plan for retaining or acquiring additional equity capital; (9) The existence and adequacy of insurance for protecting the state trust company's fiduciary assets; and (10) Any other factors the commissioner may deem relevant. Added by 2014 Tenn. Acts, ch. 642,s 3, eff. 7/1/2014.\n(a) No state trust company shall be organized with capital of less than five hundred thousand dollars ($500,000), or such greater amount as may be required by the commissioner after considering the factors in this section.\n(b) The commissioner may at any time prescribe a capital structure for a state trust company that the commissioner deems adequate for it to operate in a safe and sound manner. The commissioner shall consider the following factors in determining an adequate capital structure: (1) The nature and type of business conducted or to be conducted; (2) The nature and liquidity of assets currently held or to be held in the state trust company's own account; (3) The amount of fiduciary assets currently or projected to be under management or administration; (4) The type of fiduciary assets currently held or proposed to be held, and the depository of such assets; (5) The complexity of fiduciary duties and degree of discretion proposed currently or to be undertaken; (6) The competence and experience of current or proposed management; (7) The extent and adequacy of internal controls; (8) The reasonableness of any business plan for retaining or acquiring additional equity capital; (9) The existence and adequacy of insurance for protecting the state trust company's fiduciary assets; and (10) Any other factors the commissioner may deem relevant.\n(1) The nature and type of business conducted or to be conducted;\n(2) The nature and liquidity of assets currently held or to be held in the state trust company's own account;\n(3) The amount of fiduciary assets currently or projected to be under management or administration;\n(4) The type of fiduciary assets currently held or proposed to be held, and the depository of such assets;\n(5) The complexity of fiduciary duties and degree of discretion proposed currently or to be undertaken;\n(6) The competence and experience of current or proposed management;\n(7) The extent and adequacy of internal controls;\n(8) The reasonableness of any business plan for retaining or acquiring additional equity capital;\n(9) The existence and adequacy of insurance for protecting the state trust company's fiduciary assets; and\n(10) Any other factors the commissioner may deem relevant.","path":["TN Code","Title 45","Chapter 2"],"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":"ffe9815694cea1516ac3c4b314dc85e94d12b5a8a9f61ed718daf9604fd697f2","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-45-2-2106","next":"us-tn/tenn.-code-ann.-45-2-2108"},"notice":"GroundRules: Original legal text. Not legal advice."}