Tennessee § 45-4-1111 - Supervision of corporation.
Full text of Tennessee Tennessee Code Annotated § 45-4-1111 — Supervision of corporation., with citation guidance and answers to common questions.
§ 45-4-1111. Supervision of corporation.
The corporation is declared to be performing the functions of a credit union and shall be subject to exclusive supervision and an annual examination by the commissioner. A copy of the annual examination report shall be transmitted as soon as practicable to the corporation and to the supervisory agency of each jurisdiction of which one (1) or more credit unions have become members under § 45-4-1107(c) or (d), and the latter also shall be entitled to further information reasonably necessary in connection with the examination. The corporation shall not be subject to regulation or control by the department of commerce and insurance, and the statutes of the state governing the operation of insurance companies, including, but not limited to, title 56, shall not be applicable to the corporation. Nothing in this part shall create any liability upon the state for the payment of any funds to any member credit union by reason of the acts or omissions of the corporation created hereunder, nor shall the state be required to pay any loss to any member credit union in the event the corporation shall be unable to pay the loss. Acts 1974, ch. 577, § 11; T.C.A., § 45-1845; Acts 1983, ch. 93, § 6.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 45-4-1111
What does Tennessee Code Annotated § 45-4-1111 cover?
Section 45-4-1111 ("Supervision 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 § 45-4-1111?
A common citation format is "Tennessee Code Annotated § 45-4-1111" (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 § 45-4-1111 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.