Tennessee § 35-3-121 Investments in securities by banks or trust companies

Tennessee Statutes

§ 35-3-121 — Investments in securities by banks or trust companies

Tennessee § 35-3-121

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This text of Tennessee § 35-3-121 (Investments in securities by banks or trust companies) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 35-3-121 (2026).

Text

Unless the governing instrument, court order, or a statute specifically directs otherwise, a bank or trust company serving as trustee, guardian, agent, or in any other fiduciary capacity may invest in any security authorized by this chapter even if that fiduciary or an affiliate of that fiduciary, as defined in [former] § 35-3-117(d) [repealed], participates or has participated as a member of a syndicate underwriting the security, if:

(1)The fiduciary does not purchase the security from itself or its affiliate; and (2) The fiduciary does not purchase the security from another syndicate member or an affiliate, pursuant to an implied or express agreement between the fiduciary or its affiliate and a selling member or its affiliate, to purchase all or part of each other's underwriting commitm

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Unless the governing instrument, court order, or a statute specifically directs otherwise, a bank or trust company serving as trustee, guardian, agent, or in any other fiduciary capacity may invest in any security authorized by this chapter even if that fiduciary or an affiliate of that fiduciary, as defined in [former] § 35-3-117(d) [repealed], participates or has participated as a member of a syndicate underwriting the security, if: (1) The fiduciary does not purchase the security from itself or its affiliate; and (2) The fiduciary does not purchase the security from another syndicate member or an affiliate, pursuant to an implied or express agreement between the fiduciary or its affiliate and a selling member or its affiliate, to purchase all or part of each other's underwriting commitments.