(a) In addition to other powers permitted to banks by title 45, a state bank may own, operate or manage an insurance company offering only surety insurance, as defined in § 56-2-201(6)(E).(b) An insurance company owned by a bank shall comply with all Tennessee law applicable to insurance companies and shall be regulated by the commissioner of commerce and insurance.Acts 1988, ch. 948, § 2.
Tennessee Legal Code