Tennessee § 45-3-1506 - Ownership limitations — Statutory compliance.
Full text of Tennessee Tennessee Code Annotated § 45-3-1506 — Ownership limitations — Statutory compliance., with citation guidance and answers to common questions.
§ 45-3-1506. Ownership limitations — Statutory compliance.
No mutual savings and loan holding company other than a Tennessee mutual savings and loan holding company may control or own more than five percent (5%) of the voting shares or rights of any Tennessee association or Tennessee savings and loan holding company unless the mutual savings and loan holding company meets the requirements of a southern region savings and loan holding company as defined in § 45-3-1402 . Any acquisition of a Tennessee association (mutual or stock) or Tennessee savings and loan mutual holding company shall be governed by and meet the requirements of part 14 of this chapter. Acts 1989, ch. 354, § 6. Compiler's Notes. Section 45-3-1402(9), referred to in this section, no longer defines a “southern region savings and loan holding company.” Section 45-3-1402(9) was rewritten by Acts 1990, ch. 650, § 2; it now refers to an “out-of-state savings and loan holding company”.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 45-3-1506
What does Tennessee Code Annotated § 45-3-1506 cover?
Section 45-3-1506 ("Ownership limitations — Statutory compliance.") 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 § 45-3-1506?
A common citation format is "Tennessee Code Annotated § 45-3-1506" (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 § 45-3-1506 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.