SB1211 - Tennessee: Banks And Financial Institutions, Business And Commerce, Financial Institutions, Dept. Of

Companion Bill HB1573. Banks and Financial Institutions - Prohibits any bank or out-of-state bank from establishing or maintaining a branch on the premises of an affiliate that engages in commercial activities. - Amends TCA Title 45, Chapter 2. Fiscal Summary for *SB1211 / HB1573MINIMAL Bill Summary for *SB1211 / HB1573 This bill prohibits any bank or out-of-state bank from establishing or maintaining a branch in Tennessee on the property of an affiliate if the affiliate engages in commercial activities. For purposes of this bill, an "affiliate" is any company that controls, or is controlled by, or is under common control with another company. "Commercial activities" means any activities in which a bank holding company, financial holding company, national bank, or national bank subsidiary, may not engage under federal law. This bill redefines [...]

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