Tennessee § 45-2-201 - Incorporators — Applicant requirements.
Full text of Tennessee Tennessee Code Annotated § 45-2-201 — Incorporators — Applicant requirements., with citation guidance and answers to common questions.
§ 45-2-201. Incorporators — Applicant requirements.
A corporation seeking to conduct a banking business in Tennessee may be organized by five (5) or more incorporators, a majority of whom shall be residents of this state. The incorporators shall complete the process provided in this part and as outlined in subsection (c). Each incorporator shall subscribe and pay in full, in cash, for common stock in a minimum amount as determined by the commissioner. In order to provide for the organization of the business authorized to conduct banking business in Tennessee, applicants shall complete the following: Submit a notice of intention and request for issuance of a charter for a corporation seeking to conduct banking business in Tennessee to be filed with the secretary of state as provided in § 45-2-202; Submit and complete an application for charter, as provided in § 45-2-204; and Submit and complete an application for certificate of authority, as provided in § 45-2-212. For purposes of this part, a bank may be organized as a corporation as provided in title 48, chapters 11-27 or as a limited liability company as provided in title 48, chapters 201-249 and as outlined in § 45-2-220. Acts 1969, ch. 36, § 1 (3.304); T.C.A., § 45-201; Acts 1996, ch. 768, § 5; 2006, ch. 660, § 1. Compiler's Notes. Acts 1996, ch. 768, which amended this section, is known and may be cited as the Bank Reform Act of 1996. Acts 2006, ch. 660, § 6 provided that the act shall not apply to any notice of intention filed on or after May 12, 2006. Cross-References. Conversion of financial institutions, title 45, ch. 11.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 45-2-201
What does Tennessee Code Annotated § 45-2-201 cover?
Section 45-2-201 ("Incorporators — Applicant requirements.") 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 § 45-2-201?
A common citation format is "Tennessee Code Annotated § 45-2-201" (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 § 45-2-201 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.