45-3-504 - Prohibited transactions. - Tennessee Statutes

45-3-504. Prohibited transactions.

Any other provision of the law to the contrary notwithstanding, no association shall have the authority to receive demand deposit accounts or offer checking accounts, negotiable orders of withdrawal, or share accounts until federal associations in Tennessee are authorized to do so by federal law or regulation.

[Acts 1978, ch. 708, § 2.04; T.C.A., § 45-1404.]