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Financial Services Law Insights and Observations

Tennessee extends timeline for bank examinations and authorizes virtual shareholder meetings during pandemic

State Issues Covid-19 Tennessee Banking Examination Shareholders Securities

State Issues

On May 12, Tennessee Governor Bill Lee issued Executive Order No. 36 suspending or amending a variety of statutory and regulatory requirements to facilitate the treatment and containment of Covid-19.  These include, among other things, extending examination cycles for financial institutions, extending timing requirements for securities registrations, and allowing for virtual shareholder meetings. The order will be in effect until June 30, unless amended or revised.