Rules & Regulations of the State of Tennessee
Title 0180 - Financial Institutions
Chapter 0180-13 - Electronic Data Processing Servicer Examination and Contingency Planning
Section 0180-13-.02 - REPORT DISTRIBUTION POLICIES AND PROCEDURES

(1) Distribution of the commissioner's examination report comments to serviced institutions will be made only when in the opinion of the commissioner the financial condition or operations of the servicer could adversely or materially affect the serviced institutions. The commissioner shall notify the management of the data center of his intent to distribute report comments. Such notification shall be provided in the cover letter transmitting the completed report to the data center.

(2) When it is determined by the commissioner that conditions of the servicer require distribution of the report, he shall distribute the report comments to the affected serviced institutions.

(3) A transmittal letter will be used to advise each recipient that the comments are for their internal use only, are not to be construed to satisfy audit requirements, and remain the confidential property of the sending agency. A written receipt will be obtained from each recipient.

(4) Whenever report comments are to be distributed to serviced institutions, they will be limited to the examiner's conclusions, recommendations, and comments. Matters of a proprietary or competitive nature relating to the servicer shall be excluded from report comments prepared for distribution to serviced institutions.

(5) Notwithstanding the above, the commissioner may in his discretion give the servicer up to ninety (90) days to respond to corrective action before reporting the status of uncorrected deficiencies to the serviced institutions. If in the opinion of the commissioner sufficient corrective action is taken by the servicer, no report shall be made to the serviced institutions.