{"data":{"id":"us-tn/tenn.-code-ann.-45-2-404","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 45-2-404","heading":"Authority to declare dividends","body":"The board of directors of a state bank may not declare dividends in any calendar year that exceeds the total of its net income of that year combined with its retained net income of the preceding two (2) years without the prior approval of the commissioner.","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":"e9177124062502979f8d823d539f876c211c5b1191da56740d70e7f126213fe1","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-45-2-403","next":"us-tn/tenn.-code-ann.-45-2-405"},"notice":"GroundRules: Original legal text. Not legal advice."}