Tennessee § 45-3-816 - Additional supervisory powers.
Full text of Tennessee Tennessee Code Annotated § 45-3-816 — Additional supervisory powers., with citation guidance and answers to common questions.
§ 45-3-816. Additional supervisory powers.
In addition to other powers conferred upon the commissioner by this chapter, the commissioner has the power to require associations subject to the commissioner's supervision to: Charge Off Assets. Charge off the whole or part of an asset that at the time of its acquisition could not lawfully have been acquired and that could not lawfully be retained at the time of the commissioner's action; provided, that the commissioner's action is within two (2) years of the aforementioned acquisition; Recordation. Record liens and security in property; Financial Statement. Obtain a financial statement from each borrower before making any loan to the extent that the association can do so; Title Search, etc. Search, or obtain insurance as to, the title to real estate taken as security, or both; and Other Insurance. Maintain adequate insurance against other risks that the commissioner determines to be necessary and appropriate for the protection of depositors, other creditors, and stockholders. Acts 1978, ch. 708, § 3.16; T.C.A., § 45-1523. Compiler's Notes. For repeal of the former section, see Compiler's Notes to § 45-3-801 .
Frequently Asked Questions About Tennessee § 45-3-816
What does Tennessee Code Annotated § 45-3-816 cover?
Section 45-3-816 ("Additional supervisory powers.") 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 § 45-3-816?
A common citation format is "Tennessee Code Annotated § 45-3-816" (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 § 45-3-816 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.