45-15-102 - Purpose. - Tennessee Statutes

45-15-102. Purpose.

The making of title pledge loans vitally affects the general economy of this state and the public interest and welfare of its citizens. It is the policy of this state and the purpose of this chapter to:

     (1)  Ensure a sound system of making title pledge loans through statewide licensing of title pledge lenders by the department of financial institutions;

     (2)  Establish licensing requirements;

     (3)  Provide for the examination and regulation of title pledge lenders by the department of financial institutions; and

     (4)  Ensure financial responsibility to the public.

[Acts 1995, ch. 186, § 13; 2005, ch. 440, § 1.]