Amends TCA Title 45.
Tennessee HB0109 requires state-chartered banks to obtain an annual audit of their financial statements at intervals no longer than 15 months, unless their statements are included in a holding company's consolidated audit. The bill affects state-chartered banks and mandates that their boards review and document the audit in meeting minutes, provide a copy of the audit to the commissioner of financial institutions within 45 days, and notify the commissioner of any engagement or changes regarding their independent public accountant.
Tennessee HB0109 requires state-chartered banks to obtain an annual audit of their financial statements at intervals no longer than 15 months, unless their statements are included in a holding company's consolidated audit. The bill affects state-chartered banks and mandates that their boards review and document the audit in meeting minutes, provide a copy of the audit to the commissioner of financial institutions within 45 days, and notify the commissioner of any engagement or changes regarding their independent public accountant.
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