An applicant credit union may request that one or more of the provisions of this Chapter be waived if an emergency exists which requires immediate inclusion of a separate group in order to preserve the viability of the applicant. The request for waiver may be granted if, in the opinion of the Commissioner, the request has a reasonable probability of remedying an emergency situation.

Authority: T.C.A. §§45-1-107(h), 45-4-102(b), 45-4-301(a), 45-4-501(9), 45-4-1001(b), and 45-4-1003(e). Administrative History: Original rule filed July 31, 2001; effective November 28, 2001.