Tennessee § 45-2-806 Depositories of public funds exempt from security requirements to extent of deposit insurance

Tennessee Statutes

§ 45-2-806 — Depositories of public funds exempt from security requirements to extent of deposit insurance

Tennessee § 45-2-806

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This text of Tennessee § 45-2-806 (Depositories of public funds exempt from security requirements to extent of deposit insurance) 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. § 45-2-806 (2026).

Text

Notwithstanding any provisions of the existing laws of this state that may require security for the deposit of the public funds of the state or of any political subdivision of the state or of any municipality created under the laws of the state, in the form of a surety bond, deposit of collateral or otherwise, hereafter no bank receiving the deposits shall be required to furnish any security for the deposits, to the extent that the deposits are now insured under § 8 of the Banking Act of 1933 ( 12 U.S.C. §§ 1811 et seq.).

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Notwithstanding any provisions of the existing laws of this state that may require security for the deposit of the public funds of the state or of any political subdivision of the state or of any municipality created under the laws of the state, in the form of a surety bond, deposit of collateral or otherwise, hereafter no bank receiving the deposits shall be required to furnish any security for the deposits, to the extent that the deposits are now insured under § 8 of the Banking Act of 1933 ( 12 U.S.C. §§ 1811 et seq.).