Tennessee § 45-4-1102 - Purposes of corporation.
Full text of Tennessee Tennessee Code Annotated § 45-4-1102 — Purposes of corporation., with citation guidance and answers to common questions.
§ 45-4-1102. Purposes of corporation.
The general purposes of the corporation are to: Aid and assist any member credit union that is in liquidation or incurs financial difficulty, such as insolvency or lack of liquidity, in order that the shareholdings and deposits of any individual member of a member credit union shall be protected or guaranteed against loss. The primary amount of loss to be protected or guaranteed shall be established from time to time by the corporation with the approval of the commissioner of financial institutions. With the approval of the commissioner, the corporation may, in addition to the primary amount of loss to be protected or guaranteed, establish additional loss protection or guarantees for the benefit of those member credit unions that voluntarily elect to obtain the additional protection, upon the terms and conditions and the payment of fees that the board of directors of the corporation establishes; and Cooperate with its member credit unions and the commissioner and the appropriate supervisory agency of credit unions that become members under § 45-4-1107(c) or (d), for the purpose of advancing the general welfare of credit unions in this state and in other states where credit unions become members of the corporation. Acts 1974, ch. 577, § 2; T.C.A., § 45-1836; Acts 1983, ch. 93, § 4; 1984, ch. 715, § 2. Law Reviews. Selected Tennessee Legislation of 1983 (N. L. Resener, J. A. Whitson, K. J. Miller), 50 Tenn. L. Rev. 785 (1983).
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 45-4-1102
What does Tennessee Code Annotated § 45-4-1102 cover?
Section 45-4-1102 ("Purposes of corporation.") 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 § 45-4-1102?
A common citation format is "Tennessee Code Annotated § 45-4-1102" (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 § 45-4-1102 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.