Use the Terms, Bank or Trust in a Business Name
Tennessee Code Annotated Sections 45-2-1709(a)(1)(A) and (a)(1)(C) generally provide, in part, that it is unlawful for any person, firm or corporation to use or employ in any manner the terms "bank," "banks," "banking," or "trust" in Tennessee.
Tennessee Code Annotated Section 45-2-1709(a)(1)(B) provides, in part, that the commissioner may permit, upon application, a person, corporation, partnership or other business entity to employ the term “bank,” “banks,” or “banking” if the commissioner, in the commissioner’s discretion, determines that the person, corporation, partnership or business entity has not or will not mislead the public by employing the terms and the person, corporation, partnership or business does not provide financial services. Tennessee Code Annotated Section 45-2-1709(a)(1)(A) provides that the commissioner may permit, upon application or by rule, a subsidiary of a bank or bank holding company to employ the terms "bank," "banks," or "banking."
Tennessee Code Annotated Section 45-2-1709(a)(1)(C) provides, in part, that the commissioner may permit the use of the term “trust” upon application if the commissioner, in the commissioner’s discretion, determines that the person, corporation, partnership or business entity will not mislead the public by employing the term, and the person, corporation, partnership, or business entity does not engage in trust activity.