All associations chartered after the effective date of the Tennessee Savings and Loan Act must comply with the minimum capital requirements as set forth therein. For those associations grandfathered by this act, for the purpose of meeting future capital requirements, the capital base will be that association’s capital as of the date of insurance of accounts.

Authority: T.C.A. §§45-3-102 and 45-3-111. Administrative History: Original rule certified June 10, 1974. Repeal and new rule filed June 30, 1980; effective September 15, 1980. Transferred from the Department of Commerce and Insurance by Executive Order Number 38; effective February 11, 1983.