Section 45-1-122 - Suits to vacate and annul bank charters

In addition to other remedies provided in this chapter and chapter 2 of this title, the commissioner of financial institutions, in the name of the state, is authorized to institute a quo warranto, or other appropriate proceedings, to vacate and annul the charter of any bank where the bank has done or permitted such act or acts as under the law authorized a vacation of its charter, and no suit shall be instituted by any person to vacate the charter of any bank except by the commissioner.Acts 1969, ch. 36, § 1 (2.114); 1973, ch. 294, § 6; T.C.A., § 45-121.