Tennessee SB1279 amends banking regulations to allow the commissioner to determine deposit insurance requirements for state banks.

Tennessee SB1279 amends Title 45, Chapter 2 of the Tennessee Code to allow the commissioner to determine the type, amounts, and characteristics of deposit insurance for state banks. Factors considered include the safety and soundness of the bank, its economic impact, public confidence, banking industry views, and other relevant factors. The commissioner can create rules to implement these changes, which must follow the Uniform Administrative Procedures Act. The act will take effect on July 1, 2025.

Tennessee SB1279 amends banking regulations to allow the commissioner to determine deposit insurance requirements for state banks.

Tennessee SB1279 amends Title 45, Chapter 2 of the Tennessee Code to allow the commissioner to determine the type, amounts, and characteristics of deposit insurance for state banks. Factors considered include the safety and soundness of the bank, its economic impact, public confidence, banking industry views, and other relevant factors. The commissioner can create rules to implement these changes, which must follow the Uniform Administrative Procedures Act. The act will take effect on July 1, 2025.