50-State Financial Services Licensing Compliance Guide
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Tennessee Finance Licensing

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Licenses are typically required for individuals and businesses that provide finance industry services in the United States. This guide contains information about professional finance licensing in Tennessee.

Company Licenses

Tennessee Financial Services Company Licenses

Tennessee Collection Agency Branch Office License

Agency:Tennessee Department of Commerce and Insurance
Foreign Qualification is Prerequisite:Not Set
Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Initial Registration

Filing Method:

Online

Agency Fee:

$100 registration fee + $25 for each solicitor.

Registration Renewal

Filing Method:

Online

Agency Fee:

$350 renewal fee + $25 for each solicitor.

Due:

Biennially by the date of issuance.

Tennessee Collection Agency License

Agency:Tennessee Department of Commerce and Insurance
Foreign Qualification is Prerequisite:Not Set
Bond Requirements:

$15,000 for agencies with 1-4 certified employees, $20,000 for agencies with 5-9 certified employees, and $25,000 for agencies with 10 or more certified employees.

Exam Required?Not Set
Registered Agent (Special Agency) Required?Not Set

Initial Registration

Filing Method:

Online

Agency Fee:

$750 application fee + $600 registration fee and $25 for each solicitor after the license is approved.

Registration Renewal

Filing Method:

Online

Agency Fee:

$350 renewal fee + $25 for each solicitor.

Due:

Biennially by the date of issuance.

Amendment

Agency Fee:

$0

Notes:

Changes to an agency's address should be emailed to Collection.Service@TN.Gov along with an amended surety bond and corporate bond.

Reinstatement

Agency Fee:

$100 late renewal fee + standard renewal fees.

Notes:

Expired licenses can be reinstated for up to 60 days after the expiration date. Licenses expired for more than 60 days cannot be reinstated and the license holder must reapply.

Tennessee Industrial Loan and Thrift Registration

Agency:Tennessee Department of Financial Institutions - Compliance Division
Law:

TN Code § 45-5-103

Foreign Qualification is Prerequisite:Yes
Exam Required?Not Set
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

New Application

Filing Method:

Online

Agency Fee:

$600

Registration Renewal

Filing Method:

Online

Agency Fee:

$600 renewal fee + $100 processing fee

Due:

Annually by December 31.

Supplemental Reporting

Agency Fee:

$0

Due:

Annually by July 31.

Law:

TN Code § 45-5-503

Notes:

Each registrant shall file an annual report with the commissioner by July 31 of each year, containing the following information:

 

  • The names and addresses of persons owning controlling interest in the registrant;
  • The location of all places of business operated by the registrant and the nature of the business conducted at each location;
  • The names and addresses of all affiliated lenders and affiliated insurance companies doing business in this state;
  • Balance sheets, statements of income and expense, summaries of the types of loans made, and other statistical information that may reasonably be required by the commissioner, consistent with generally accepted accounting practices, for the purpose of determining the general results of operations under this chapter; and
  • If the registrant is a corporation, the names and addresses of its officers and directors, or if the registrant is a partnership, the names and addresses of the partners.

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