Tennessee Code Annotated

Tenn. Code Ann. § 45-2-1702 (2026)

Receiving deposit, premium payment or investment in failing financial institution

✓ current as of May 2026

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(a) A person directing or participating in the direction of a financial institution commits an offense who receives or permits the receipt of a deposit, premium payment or investment in the institution knowing that, due to the financial condition of the institution:
- (1) It is or will be unable to make payment of the deposit on demand, if it is a deposit ordinarily payable on demand; or
- (2) It is about to suspend operations or go into receivership.

(b) It is a defense to prosecution under this section that the person making the deposit, premium payment or investment was adequately informed of the financial condition of the institution.

(c) An offense under this section is a Class E felony.

Acts 1969, ch. 36, § 1 (3.602); T.C.A., § 45-1102; Acts 1989, ch. 591, §§ 111, 118.

Notes of Decisions

Cited in 1 case, 1986–1986 · leading case: Duvoisin v. Anderson (In Re S. Indus. Banking Corp.), 59 B.R. 978 (E.D. Tenn. 1986).

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Duvoisin v. Anderson (In Re S. Indus. Banking Corp.), 59 B.R. 978 (E.D. Tenn. 1986). · cites it 2× “5 Defendants next look at T.C.A. § 45-2-1702 which provides that: The right to receive money on deposit and the right to pay out money on checks are hereby declared to be the exclusive privileges of the banking business.”

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