Bill > HB2537

This bill makes several changes to Tennessee law concerning financial institutions, particularly credit unions. It amends provisions related to the frequency of examinations for banks and credit unions, allowing the commissioner to extend the examination cycle beyond annually to up to twenty-four months based on factors like management quality and risk. Crucially, it removes the requirement for state-chartered credit unions to be insured by the state credit union share insurance corporation and instead mandates that they obtain insurance through the National Credit Union Association, unless the commissioner grants an exemption based on specific criteria. The bill also eliminates the state credit union share insurance corporation and its associated capital fund, and makes other technical adjustments to laws governing financial institutions.