Safety And Soundness Considerations

(1) Pursuant to the provisions of Title 45 of Tennessee Code Annotated, the Commissioner may determine to rescind approval of any activities or transactions based upon the safety and soundness of the particular activities and transactions and/or the financial and managerial soundness of particular banks; provided, however, that the Commissioner may not disapprove activities or transactions specifically enumerated in T.C.A. Section 45-2-614(e) unless based upon the financial or managerial soundness of particular banks. (2) In the exercise of the Commissioner’s discretion to protect the safety and soundness of particular banks, the Commissioner may condition approval of activities and transactions permitted by T.C.A. Section 45-2-614(e) upon the establishment of appropriate safeguards, procedures, agreements, or other matters. (3) The Commissioner from time to time may prescribe the form(s) of notice required by T.C.A. Section 45-2-614(e) and the type of information to be contained therein.