Rules & Regulations of the State of Tennessee
Title 0780 - Commerce and Insurance
Subtitle 0780-01 - Insurance Division
Chapter 0780-01-27 - Operation of State Chartered Building and Loan Associations
Section 0780-01-27-.01 - CAPITAL

(1) Each company in order to protect the stockholders and retain its solvency to a degree necessary to inspire confidence of the public and its stockholders, members, investors, and depositors shall have not less than $100,000.00 Capital, $50,000.00 Paid in Surplus, plus 10% of Paid in Surplus for an Undivided Profit Account before commencing business or obtaining a charter.

(2) EACH ASSOCIATION AFTER THE DEPOSIT OF ALL CAPITAL FUNDS, SHALL OBTAIN WRITTEN APPROVAL FROM THE COMMISSIONER -ON ITS SURETY BOND, INSURANCE OF ACCOUNTS, AND QUARTERS TO INSURE THE SAFETY OF ITS FUNDS PRIOR TO COMMENCING BUSINESS