Tennessee § 45-2-1010 - Fiduciary activities of state trust institution.
Full text of Tennessee Tennessee Code Annotated § 45-2-1010 — Fiduciary activities of state trust institution., with citation guidance and answers to common questions.
§ 45-2-1010. Fiduciary activities of state trust institution.
A state trust institution may act as a fiduciary in this or any other state or foreign country, subject to complying with applicable laws of the state or foreign country. In addition, a state trust institution may conduct any activities at any office outside this state that are permissible for a trust institution chartered by the host state where the office is located, except to the extent the activities are expressly prohibited by the laws of this state or by any regulation or order of the commissioner applicable to the state trust institution; provided, that the commissioner may waive the prohibition if the commissioner determines that the involvement of out-of-state offices of state trust institutions in particular activities would not threaten the safety or soundness of the state trust institutions. A state trust institution may: Perform any act as a fiduciary at each trust office established under this title and at an authorized branch; and Exercise any incidental power that is reasonably necessary to enable it to fully exercise commonly accepted fiduciary powers conferred in this chapter and chapter 1 of this title. A state trust institution may exercise any other power authorized by this chapter and chapter 1 of this title, or any power authorized to federally chartered trust institutions whose purposes and powers are limited to fiduciary purposes and powers, subject to the commissioner's regulation for safety and soundness. A state trust institution may exercise any power authorized to trust institutions chartered by another state whose purposes and powers are limited to fiduciary purposes and powers, subject to the commissioner's regulation for safety and soundness. Acts 1984, ch. 691, § 6; 1999 ch. 112, § 10. Cross-References. Branch banking, § 45-2-614 .
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 45-2-1010
What does Tennessee Code Annotated § 45-2-1010 cover?
Section 45-2-1010 ("Fiduciary activities of state trust institution.") 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 § 45-2-1010?
A common citation format is "Tennessee Code Annotated § 45-2-1010" (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 § 45-2-1010 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.