Tennessee § 45-12-110 - License nontransferable and nonassignable — Change in control of licensee — Notification to department of change in place of business.
Full text of Tennessee Tennessee Code Annotated § 45-12-110 — License nontransferable and nonassignable — Change in control of licensee — Notification to department of change in place of business., with citation guidance and answers to common questions.
§ 45-12-110. License nontransferable and nonassignable — Change in control of licensee — Notification to department of change in place of business.
A license issued pursuant to this chapter is not transferable or assignable. The prior written approval of the commissioner is required for the continued operation of a flex loan business whenever a change in control of a licensee is proposed. The commissioner may require information deemed necessary to determine whether a new application is required. Reasonable and actual costs incurred by the commissioner in investigating a change of control request shall be paid by the person requesting approval. Whenever control is acquired or exercised in violation of this section, the license shall be deemed revoked as of the date of the unlawful acquisition of control. The licensee or its controlling person shall surrender the license to the commissioner on demand. A licensee shall notify the department five (5) days before any change in the licensee's principal place of business, branch office or name. Acts 2014, ch. 969, § 1.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 45-12-110
What does Tennessee Code Annotated § 45-12-110 cover?
Section 45-12-110 ("License nontransferable and nonassignable — Change in control of licensee — Notification to department of change in place of business.") 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 § 45-12-110?
A common citation format is "Tennessee Code Annotated § 45-12-110" (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 § 45-12-110 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.