Section 0180-09-01-.03 - BRANCHING; DEFINITION(1) Upon written notice to the commissioner of financial institutions, any state-chartered credit union may open and maintain within the state, in any locality in which a portion of its actual or potential membership is employed or resides, one or more branches; provided, however that the commissioner may object to such branch if in his discretion he ascertains that the establishing of a branch will jeopardize the safety and soundness of the credit union. If the commissioner has not objected within thirty (30) days of the notice, the branch shall be deemed approved.(2) A "branch" includes any office, agency, or place of business at which member accounts are established or money is lent, except that such definition shall not include automatic teller machines which are operated on a shared basis with another financial institution or institutions.Tenn. Comp. R. & Regs. 0180-09-01-.03
Original rule filed July 24, 1984; effective October 14, 1984.Authority: T.C.A. §§ 45-4-501 and 45-4-1001.