Tennessee § 45-2-806 - Depositories of public funds exempt from security requirements to extent of deposit insurance.
Full text of Tennessee Tennessee Code Annotated § 45-2-806 — Depositories of public funds exempt from security requirements to extent of deposit insurance., with citation guidance and answers to common questions.
§ 45-2-806. Depositories of public funds exempt from security requirements to extent of deposit insurance.
Notwithstanding any provisions of the existing laws of this state that may require security for the deposit of the public funds of the state or of any political subdivision of the state or of any municipality created under the laws of the state, in the form of a surety bond, deposit of collateral or otherwise, hereafter no bank receiving the deposits shall be required to furnish any security for the deposits, to the extent that the deposits are now insured under § 8 of the Banking Act of 1933 (12 U.S.C. §§ 1811 et seq.). Acts 1969, ch. 36, § 1 (3.322); T.C.A., § 45-506. Cross-References. Applicability to savings and loan associations and savings banks, § 45-2-106 .
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 45-2-806
What does Tennessee Code Annotated § 45-2-806 cover?
Section 45-2-806 ("Depositories of public funds exempt from security requirements to extent of deposit insurance.") 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 § 45-2-806?
A common citation format is "Tennessee Code Annotated § 45-2-806" (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 § 45-2-806 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.