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HB0353 • 2026

Financial Institutions, Dept. of

AN ACT to amend Tennessee Code Annotated, Title 45, relative to financial institutions.

Labor
Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Powers, Southerland
Last action
2025-02-03
Official status
P2C, caption bill, held on desk - pending amdt.
Effective date
Not listed

Plain English Breakdown

The official source does not specify whether the commissioner is required to send the report or if it's implied by changing the deadline.

Changing Reporting Time for Financial Institutions

This bill changes the reporting period from 60 to 45 days after the end of each year for financial institutions' annual report to the governor.

What This Bill Does

  • Changes the reporting time from 60 days to 45 days after the end of each calendar year.
  • Updates Tennessee's laws about financial institutions.

Who It Names or Affects

  • The Department of Financial Institutions in Tennessee
  • The governor of Tennessee

Terms To Know

Financial Institutions
Banks, credit unions, and other places that handle money for people.
Commissioner
A person in charge of a government department or agency.

Limits and Unknowns

  • The bill does not specify the consequences if the report is submitted late.
  • It's unclear how this change will affect other parts of financial institution reporting rules.

Bill History

  1. 2025-02-12 Tennessee General Assembly

    Passed on Second Consideration, refer to Senate Commerce and Labor Committee

  2. 2025-02-10 Tennessee General Assembly

    Introduced, Passed on First Consideration

  3. 2025-02-05 Tennessee General Assembly

    Filed for introduction

  4. 2025-02-03 Tennessee General Assembly

    P2C, caption bill, held on desk - pending amdt.

  5. 2025-01-27 Tennessee General Assembly

    Intro., P1C.

  6. 2025-01-23 Tennessee General Assembly

    Filed for introduction

Official Summary Text

Abstract summarizes the bill.

Current Bill Text

Read the full stored bill text 
SENATE BILL 977
By Southerland

HOUSE BILL 353
By Powers

HB0353
000942
- 1 -

AN ACT to amend Tennessee Code Annotated, Title 45,
relative to financial institutions.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 45-1-119(a), is amended by deleting
the language "within sixty (60) days" and substituting the language "within forty-five (45) days".
SECTION 2. This act takes effect upon becoming a law, the public welfare requiring it.