Skip to Content

Bill BL2018-1279

An ordinance to amend Metropolitan Code of Laws sections 17.04.060 and 17.16.050 relative to the definition of alternative financial services and financial institution and location restrictions. (Proposal No. 2018Z-004TX-001).

NOW, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

Section 1. That Section 17.04.060 of the Metropolitan Code of Laws be amended by deleting the definition of “Alternative financial services” and substituting in lieu thereof the following:

“Alternative financial services" means any building, room, space or portion thereof where an establishment provides a variety of financial services, including but not limited to cash advance, title loans, check cashing, pawnshops and flex loans, and such establishment is not a state or federally chartered bank, a savings and loan association, industrial loan and thrift company licensed by the state of Tennessee under Title 45, Chapter 5 of the Tennessee Code Annotated and providing only the services authorized under that chapter, or credit union, a mortgage company, a financial institution whose services are insured by an agency of the United States government, or any other entity offering financial services that is not determined to be a financial institution as defined under this section.

Section 2. That Section 17.04.060 be further amended by deleting the definition of “Financial Services” and substituting in lieu thereof the following:

"Financial institution" means any building, room, space or portion thereof where an establishment provides a variety of financial services and is a state or federally chartered bank, savings and loan association, industrial loan and thrift company licensed by the State of Tennessee under Title 45, Chapter 5 of Tennessee Code Annotated and providing only the services authorized under that chapter, or credit union, a mortgage company, or other financial institution whose services are insured by an agency of the United States government, but excluding alternative financial services.

Section 3. That Section 17.16.050 of the Metropolitan Code of Laws be amended by deleting subsection D.1 in its entirety and substituting in lieu thereof the following:

D. Alternative Financial Services.

1. No alternative financial services establishment shall be located less than one thousand three hundred twenty linear feet from the property line of another property upon which another alternative financial services establishment is located. No more than one (1) such establishment shall be located upon a single parcel.

Section 4. This Ordinance shall take effect from and after its passage, the welfare of the Metropolitan Government of Nashville and Davidson County requiring it.

Sponsor(s)

Bob Mendes, Jeff Syracuse, Colby Sledge

Related Documents

Legislative History

IntroducedJuly 3, 2018

Passed First ReadingJuly 3, 2018

Referred toPlanning Commission - Approved (7-0) on 08/23/2018
Planning, Zoning, and Historical Committee

Public Hearing Scheduled forAugust 7, 2018

Deferred to September 4, 2018August 7, 2018

Passed Second ReadingSeptember 4, 2018

Passed Third ReadingSeptember 18, 2018

ApprovedSeptember 19, 2018

ByMayor Briley's signature

EffectiveSeptember 21, 2018

Requests for ADA accommodation should be directed to the Metropolitan Clerk at 615-862-6770.

Last Modified: 01/11/2019 11:59 AM