Applications

(1) An out-of-state holding company, a Tennessee holding company, or out-of-state or in-state financial institution, seeking to acquire, directly or indirectly, a Tennessee state-chartered financial institution where such institution will remain in Tennessee state-chartered institution immediately after the acquisition, shall file with the commissioner of financial institutions: (a) An application in such form as the commissioner may prescribe from time to time; and (b) A copy of the completed application or applications which are filed with the appropriate federal regulatory authority with jurisdiction over the proposed acquisition. (2) The application will be accepted as officially filed when, in the sole determination of the commissioner, the application is deemed complete. (3) A Tennessee bank holding company or Tennessee-chartered bank seeking to acquire, directly or indirectly, an out-of-state financial institution and merge that institution into a bank chartered by the state of Tennessee, so that the resulting institution is a bank chartered by the state of Tennessee, shall file an application and follow the procedures outlined in T.C.A. §§ 45-2-1304 through 45-2-1306.