Tennessee HB1523 amends financial records handling procedures for financial institutions.
Tennessee HB1523 modifies the handling of financial records by financial institutions in Tennessee. It mandates that financial institutions must securely retain records upon receipt and only disclose them to authorized parties. If a financial institution believes a customer is deceased, it is not required to confirm service of a subpoena on the customer, their estate, or heirs. The bill also specifies that financial records must be delivered to the issuer as per the subpoena's instructions or agreed upon by the issuer and the custodian, with options for physical, mail, or electronic delivery.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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