Financial Institutions, Dept. of - As introduced, increases, from 10 to 15 business days, the time that the commissioner has after receipt of an application for a certificate of authority or any accompanying documents for organization of a business authorized to conduct banking business that do not comply with requirements for the documents to return the certificate or documents to the incorporators with notice of the defect in the application. - Amends TCA Title 34; Title 45 and Title 47.

SB 973 extends the review period for incomplete banking applications in Tennessee from 10 to 15 business days. It directly affects financial institutions seeking a certificate of authority to operate, giving the commissioner more time to return incomplete applications with specific feedback. The bill amends Tennessee Code Section 45-2-213 to change the required review timeframe for applications that don’t meet document requirements. This is a procedural adjustment to the application process, not a substantive policy change.