Tenn. Comp. R. & Regs. 0180-22-.03 - TRANSACTIONS BETWEEN AND AMONG AFFILIATED BANKS
(1) A
state-chartered bank, as agent, on behalf of one or more affiliated banks
(whether state-chartered banks or national banks), as principal(s), may, in
accordance with these rules:
(a) conduct the
transactions permitted to non-affiliated banks set forth in section
0180-22-.02;
(b) open deposit
accounts:
(c) receive pledges and
other deliveries of collateral, guaranties, and loan documentation;
(d) act as paying agent;
(e) accept money for transmission and
transmit money by electronic funds transfer;
(f) act as custodian and provide safe deposit
facilities; and
(g) purchase from
or sell on behalf of the principal short term deposits, including, for example,
federal funds, repurchase agreements and reverse repurchase
agreements.
(h) conduct any other
act receiving the prior approval of the commissioner.
Notes
Authority: T.C.A. ยงยง 45-2-614(e), 45-1-107(h); Public Chapter 85, Acts of 1989.
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