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-.09 - REPORTING OF MISAPPROPRIATIONS, DEFALCATIONS, EMBEZZLEMENTS, THEFTS OR OTHER MISAPPLICATIONS

If any officer, director or employee of an association shall learn or believe that a misappropriation, defalcation, embezzlement, theft or other misapplication of the funds, or other assets, of the association has occurred, or is occurring, such officer, director or employee shall immediately report such information in writing or in person to the Commissioner.

Authority: T.C.A. §45-1303.