Tennessee § 49-7-165 Protection of records related to alternative investments

Tennessee Statutes

§ 49-7-165 — Protection of records related to alternative investments

(a)The general assembly finds a public necessity in protecting specified records relating to the investment program of the state university and community college system and the University of Tennessee system.

(b)(1) Records of the state university and community college system and the University of Tennessee system relating to the name of an alternative investment, the name of an alternative investment manager, the amount invested in the alternative investment, or the most recent fiscal year-end value of an alternative investment shall be open to public inspection pursuant to title 10, chapter 7, part 5.

(2)[Repealed effective July 1, 2021.]

(3)Subdivision (b)(2) shall be repealed on July 1, 2021.

(c)For purposes of this section:

(1)"Alternative investment" includes, but is not limite

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(a) The general assembly finds a public necessity in protecting specified records relating to the investment program of the state university and community college system and the University of Tennessee system. (b) (1) Records of the state university and community college system and the University of Tennessee system relating to the name of an alternative investment, the name of an alternative investment manager, the amount invested in the alternative investment, or the most recent fiscal year-end value of an alternative investment shall be open to public inspection pursuant to title 10, chapter 7, part 5. (2) [Repealed effective July 1, 2021.] (3) Subdivision (b)(2) shall be repealed on July 1, 2021. (c) For purposes of this section: (1) "Alternative investment" includes, but is not limited to: (A) Any investment requiring an investor indicate if the investor qualifies as an accredited investor under Regulation D of the Securities Act of 1933 ( 17 C.F.R. § 230.500 et. seq.); (B) Unregistered securities or funds offered under exemptions provided by 17 C.F.R. § 230.144(A) , 15 U.S.C. § 80a-3(c)(1) , or 15 U.S.C. § 80a-3(c)(7) ; or (C) A qualified purchaser under 15 U.S.C. § 80a-2(a)(51) ; and (2) "Public institution of higher education" means the University of Tennessee or the state university and community college systems. (d) Nothing in this section shall limit access to records by law enforcement agencies, courts, or other governmental agencies performing official functions.

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