Tennessee § 49-3-404 Authority of trustees

Tennessee Statutes

§ 49-3-404 — Authority of trustees

Tennessee § 49-3-404

Title49

This text of Tennessee § 49-3-404 (Authority of trustees) 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. § 49-3-404 (2026).

Text

In addition to the powers granted by this part, consistent with the purpose of the fund, the trustees have the authority to:

(1)Develop a written plan to implement this part;

(2)Develop investment policies for the investment of the money in the fund;

(3)Expend income from the fund in accordance with this part;

(4)Establish rules, policies, or guidelines relative to the expenditure of income from the fund. The rules, policies, or guidelines may contain factors or criteria for disbursements to LEAs participating in the Tennessee investment in student achievement formula (TISA), and may include, but not be limited to, special projects or programs that would not otherwise be funded that are deemed by the trustees to improve the overall quality of the total educational program for individua

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In addition to the powers granted by this part, consistent with the purpose of the fund, the trustees have the authority to: (1) Develop a written plan to implement this part; (2) Develop investment policies for the investment of the money in the fund; (3) Expend income from the fund in accordance with this part; (4) Establish rules, policies, or guidelines relative to the expenditure of income from the fund. The rules, policies, or guidelines may contain factors or criteria for disbursements to LEAs participating in the Tennessee investment in student achievement formula (TISA), and may include, but not be limited to, special projects or programs that would not otherwise be funded that are deemed by the trustees to improve the overall quality of the total educational program for individual or all LEAs. The rules, policies, or guidelines may contain a competitive award process developed by the trustees that will be administered and implemented by the commissioner of education; (5) Promote, advertise, and publicize the fund by developing and implementing campaigns for contributions to the trust fund and programs making the public aware of the purpose and operation of the fund. In their promotion of the fund, the trustees may develop partnerships and agreements with and among state agencies, local governments, nonprofit organizations, and private entities; (6) Raise funds and solicit contributions to the fund on behalf of the fund; (7) Request from any branch, department, division, board, bureau, commission, or other agency of the state or any entity that receives state funds, such information as will enable the trustees to perform the duties contained in this part; (8) Contract for the provision of all or any part of the services necessary for the management, operation, promotion, advertisement, and publicizing of the fund; and (9) Enter into donor agreements with public or private individuals or entities contributing to the fund.

Legislative History

Amended by 2022 Tenn. Acts, ch. 966, s 29, eff. 7/1/2023. Amended by 2019 Tenn. Acts, ch. 379, s 7, eff. 5/10/2019. Amended by 2018 Tenn. Acts, ch. 654, Secs.s 3, s 4, s 5, s 6, s 7 eff. 4/9/2018. Amended by 2015 Tenn. Acts, ch. 182, Secs.s 34, s 35 eff. 4/17/2015. Acts 1985, ch. 351, § 4; 1988, ch. 624, § 1; 2011 , ch. 410, § 4 (l).