Tennessee § 45-2-701 - Interest on accounts.
Full text of Tennessee Tennessee Code Annotated § 45-2-701 — Interest on accounts., with citation guidance and answers to common questions.
§ 45-2-701. Interest on accounts.
Banks shall be invested with the right and power to receive money on deposit, allowing therefor to the depositor, if the corporation chooses so to contract, interest at a rate not in excess of the maximum rate of interest authorized by the laws of the United States or by regulations issued under authority of these laws to be paid on deposits by member banks of the federal reserve system or by nonmember banks whose deposits are insured by the federal deposit insurance corporation, whichever is lower. Acts 1969, ch. 36, § 1 (3.201); T.C.A., § 45-404. Cross-References. Negotiable instruments, title 47, ch. 3. Textbooks. Tennessee Jurisprudence, 5 Tenn. Juris., Banks and Banking, §§ 31, 41.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 45-2-701
What does Tennessee Code Annotated § 45-2-701 cover?
Section 45-2-701 ("Interest on accounts.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 45-2-701?
A common citation format is "Tennessee Code Annotated § 45-2-701" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 45-2-701 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.