45-2-1802 - Powers generally.
45-2-1802. Powers generally.
An authorized state bank, directly or indirectly through a subsidiary, may:
(1) Provide portfolio investment advice to customers;
(2) Serve as investment advisor to investment companies, including, but not limited to, open-end and closed-end mutual funds, private investment companies and investment companies registered under the Investment Companies Act of 1940;
(3) Serve as investment or financial advisor to states, counties and municipalities or subdivisions or instrumentalities thereof;
(4) Act as general partner to investment partnerships;
(5) Act as dealer-manager or financial advisor to corporations or partnerships, including, but not limited to, providing valuation advice, opinions with respect to sales or purchases or assets, corporate restructuring, issuances of securities, mergers and other acquisitions;
(6) Engage in the sale, distribution, and underwriting of, and deal in, commercial paper issued by any entity;
(7) Engage in the sale, distribution, and underwriting of, and deal in, promissory notes secured by real estate mortgages, credit obligations secured by real or personal property or manufactured housing, participation interests in promissory notes and credit obligations, and mortgage related payment bonds secured by promissory notes; and
(8) Engage in the sale, distribution and underwriting of, and deal in, stocks, bonds, debentures, notes, mutual fund shares or unit investment trust interest, and other securities which may be sold by a broker-dealer, financial institution or investment company under Tennessee law.
[Acts 1989, ch. 168, § 1.]