{"data":{"id":"us-tn/tenn.-code-ann.-45-2-215","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 45-2-215","heading":"Approval or denial of application - Action by commissioner - Limitation of bank or trust company to fiduciary purposes and powers","body":"(a) If the commissioner approves the application, the commissioner shall promptly issue a certificate of authority and mail the same to the incorporators. If the commissioner denies the application, the commissioner shall promptly mail a notice of the denial to the incorporators, stating therein the reason or reasons for denying the application.\n(b) A state bank or trust company, for which the commissioner has approved the filing of a charter and has issued a certificate of authority, is not illegally organized because its purposes and powers are, or have been required by the commissioner to be, limited to fiduciary purposes and powers.","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":"e148a5a347d39c66e27b504e65ca7442cf13a403d26b2ed669906d29dba8fb25","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-45-2-214","next":"us-tn/tenn.-code-ann.-45-2-216"},"notice":"GroundRules: Original legal text. Not legal advice."}