45-3-1505 - Acquisitions Application Approval required. - Tennessee Statutes

45-3-1505. Acquisitions Application Approval required.

A mutual savings and loan holding company may acquire control of a subsidiary, association, or mutual savings and loan holding company upon application to and the prior written approval of the commissioner. The application shall be in the form prescribed by the commissioner and shall contain information that enables the commissioner to determine if the acquisition is consistent with the public interest of maintaining a sound financial system.

[Acts 1989, ch. 354, § 5.]