---
type: "Bill"
title: "Banks and Financial Institutions - As enacted, authorizes a credit union with a state charter to purchase a participation interest in a loan from a bank, another credit union, or another eligible organization, without requiring membership of the borrower of the loan. - Amends TCA Title 4; Title 39; Title 45; Title 47 and Title 48."
description: "Banks and Financial Institutions - As enacted, authorizes a credit union with a state charter to purchase a participation interest in a loan from a bank, another credit union, or another eligible organization, without requiring membership of the borrower of the loan. - Amends TCA Title 4; Title 39; Title 45; Title 47 and Title 48."
jurisdiction: "us/states/tn"
legislature: "Tennessee General Assembly"
session: "113"
identifier: "SB 1286"
citation: "Tennessee SB 1286 (113)"
classification: ["bill"]
subjects: ["Banks and Financial Institutions"]
status: "enacted"
primary_sponsors: ["Bailey"]
version_count: 3
action_count: 29
vote_count: 3
first_action: "2023-01-31"
last_action: "2024-05-09"
source: "openstates"
source_identifier: "ocd-bill/f5e42d47-d667-4135-b23f-14471de85403"
source_url: "http://wapp.capitol.tn.gov/apps/BillInfo/default.aspx?BillNumber=SB1286&GA=113"
source_hash: "54faba4b05b0dee9b5ad9ccbdddd92ec1929e70eae0731ec4da8a1dcc8b200c4"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-tn"]
---

# Tennessee SB 1286 (113) — Banks and Financial Institutions - As enacted, authorizes a credit union with a state charter to purchase a participation interest in a loan from a bank, another credit union, or another eligible organization, without requiring membership of the borrower of the loan. - Amends TCA Title 4; Title 39; Title 45; Title 47 and Title 48.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Amendment HA0799** (committee substitute) — [source](https://www.capitol.tn.gov/Bills/113/Amend/HA0799.pdf)
2. **Amendment SA0715** (committee substitute) — [source](https://www.capitol.tn.gov/Bills/113/Amend/SA0715.pdf)
3. **Current Version** (committee substitute) — [source](https://www.capitol.tn.gov/Bills/113/Bill/SB1286.pdf)

## Votes

- FLOOR VOTE: REGULAR CALENDAR PASSAGE ON THIRD CONSIDERATION 4/11/2024 Passed (1) — **83–0** (pass) · lower
- FLOOR VOTE: as Amended Third Consideration 3/21/2024 Passed (1) — **28–0** (pass) · upper
- SENATE COMMERCE AND LABOR COMMITTEE: Recommended for passage with amendment/s, refer to Senate Calendar Committee Ayes 8, Nays 0 PNV 0 3/12/2024 Passed (2) — **8–0** (pass) · upper

## Sponsors

- Bailey — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2023-01-31** Filed for introduction `filing`
- **2023-02-02** Introduced, Passed on First Consideration `introduction`
- **2023-02-06** Passed on Second Consideration, refer to Senate Commerce and Labor Committee `passage`
- **2023-03-07** Placed on Senate Commerce and Labor Committee calendar for 3/14/2023
- **2023-03-14** Placed on Senate Commerce and Labor Committee calendar for 3/20/2023
- **2023-03-14** Action deferred in Senate Commerce and Labor Committee to 3/21/2023
- **2023-03-20** Placed on Senate Commerce and Labor Committee calendar for 3/21/2023
- **2023-03-20** Action deferred in Senate Commerce and Labor Committee to 3/21/2023
- **2023-03-21** Assigned to General Subcommittee of Senate Commerce and Labor Committee `referral-committee`
- **2024-02-27** Placed on Senate Commerce and Labor Committee calendar for 3/5/2024
- **2024-03-05** Action deferred in Senate Commerce and Labor Committee to 3/12/2024
- **2024-03-06** Placed on Senate Commerce and Labor Committee calendar for 3/12/2024
- **2024-03-08** Placed on Senate Commerce and Labor Committee calendar for 3/12/2024
- **2024-03-12** Recommended for passage with amendment/s, refer to Senate Calendar Committee Ayes 8, Nays 0 PNV 0
- **2024-03-19** Placed on Senate Regular Calendar for 3/21/2024
- **2024-03-21** Engrossed; ready for transmission to House `receipt`
- **2024-03-21** Passed Senate as amended, Ayes 28, Nays 0 `passage`
- **2024-03-21** Senate adopted Amendment (Amendment 1 - SA0715)
- **2024-03-25** Rcvd. from S., held on H. desk.
- **2024-04-11** Passed H., Ayes 83, Nays 0, PNV 4 `passage`
- **2024-04-11** Am. withdrawn. (Amendment 1 - HA0799) `amendment-withdrawal`
- **2024-04-11** Subst. for comp. HB. `substitution`
- **2024-04-15** Enrolled and ready for signatures `enrolled`
- **2024-04-16** Signed by H. Speaker `passage`
- **2024-04-16** Signed by Senate Speaker `passage`
- **2024-04-17** Transmitted to Governor for action. `executive-receipt`
- **2024-04-29** Signed by Governor. `executive-signature`
- **2024-05-09** Effective date(s) 07/01/2024
- **2024-05-09** Pub. Ch. 803

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/f5e42d47-d667-4135-b23f-14471de85403`. Confidence: reported (aggregated from official Tennessee legislature records).