New Private Trust Company Instruction Letter

Formation of a Private Trust Company in Tennessee

A private trust company is a company acting as a fiduciary in Tennessee that does not transact a trust business with the general public.

The Tennessee statutes specifically applicable to private trust companies may be found at Tenn. Code Ann. §§ 45-2-2001, et seq. and allow a private trust company applicant to request exemption from certain provisions of the Tennessee Banking Act. To obtain exempt status as a private trust company operating in Tennessee, an applicant should submit a letter application addressed to the Commissioner of the Department of Financial Institutions containing the following information: