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TN HB0109

Bill

Official Source

Status

Introduced

1/13/2025

Primary Sponsor

William Lamberth

Click for details

Origin

House of Representatives

114th General Assembly

AI Summary

  • Tennessee state-chartered banks must obtain annual audits of financial statements by an independent certified public accountant at intervals of no more than 15 months
  • Banks whose financial statements are included in their holding company's consolidated audit are exempt from the separate audit requirement
  • Bank boards must review, discuss, and record the audit in their minutes
  • Banks must submit copies of external audits and management letters to the commissioner within 45 days of receiving them
  • Banks must promptly notify the commissioner when engaging, changing, or terminating an independent public accountant

Legislative Description

AN ACT to amend Tennessee Code Annotated, Title 45, relative to financial institutions.

Banks and Financial Institutions

Last Action

Assigned to s/c Banking & Consumer Affairs Subcommittee

1/28/2025

Committee Referrals

Commerce1/16/2025

Full Bill Text

No bill text available