Rules & Regulations of the State of Tennessee
Title 0180 - Financial Institutions
Chapter 0180-20 - Recovery of the Costs of Examination and Supervision of Certain Financial Institutions
Section 0180-20-.04 - PENALTIES FOR THE FAILURE TO TIMELY PAY SPECIAL ASSESSMENTS
Universal Citation: TN Comp Rules and Regs 0180-20-.04
Current through April 3, 2024
If a financial institution fails to pay a special assessment when due, the commissioner may, in addition to other remedies provided for under Title 45, levy a late payment penalty of up to five hundred dollars ($500) per day for each day the payment is overdue. All penalties and fines collected pursuant to this rule shall be used at the exclusive discretion of the commissioner in the administration of the department.
Authority: T.C.A. § 45-1-118; Public Chapter 628, Acts of 1992, Section 1.
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