1. (1) A state-chartered bank, as agent, on behalf of one or more affiliated banks (whether state- chartered banks or national banks), as principal(s), may, in accordance with these rules:

   1. (a) Conduct the transactions permitted to non-affiliated banks set forth in section 0180- 22-.02;
   2. (b) Open deposit accounts:
   3. (c) Receive pledges and other deliveries of collateral, guaranties, and loan documentation;
   4. (d) Act as paying agent;
   5. (e) Accept money for transmission and transmit money by electronic funds transfer;
   6. (f) Act as custodian and provide safe deposit facilities; and
   7. (g) Purchase from or sell on behalf of the principal short term deposits, including, for example, federal funds, repurchase agreements and reverse repurchase agreements.
   8. (h) Conduct any other act receiving the prior approval of the commissioner.

Authority: T.C.A. §§ 45-2-614(e), 45-1-107(h), and Public Chapter 85, Acts of 1989. Administrative History: Original rule filed July 28, 1993; effective November 18, 1993. Amendment filed August 31, 1998; effective December 29, 1998.