Tennessee § 56-52-107 Examination of charitable organization's assets, liabilities and affairs by commissioner

Tennessee Statutes

§ 56-52-107 — Examination of charitable organization's assets, liabilities and affairs by commissioner

Whenever the commissioner determines it to be proper or expedient, the commissioner may make or cause to be made an examination of the assets and liabilities and other affairs of the charitable organization as they pertain to charitable gift annuity agreements entered into pursuant to this chapter. In determining a charitable organization's ability to pay its obligations under charitable gift annuities, the commissioner may limit the examinations to the charitable gift annuity separate account, unless the commissioner determines that the assets in the charitable gift annuity account are not adequate for that purpose. The authority of the commissioner under this section shall be the same as that bestowed upon the commissioner under §§ 56-1-411 and 56-8-107 . The commissioner shall keep the 

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Whenever the commissioner determines it to be proper or expedient, the commissioner may make or cause to be made an examination of the assets and liabilities and other affairs of the charitable organization as they pertain to charitable gift annuity agreements entered into pursuant to this chapter. In determining a charitable organization's ability to pay its obligations under charitable gift annuities, the commissioner may limit the examinations to the charitable gift annuity separate account, unless the commissioner determines that the assets in the charitable gift annuity account are not adequate for that purpose. The authority of the commissioner under this section shall be the same as that bestowed upon the commissioner under §§ 56-1-411 and 56-8-107 . The commissioner shall keep the information obtained in the course of examinations confidential until the examination is completed. The reasonable expenses incurred for an examination shall be paid by the charitable organization.

Tennessee § 56-52-107 (Examination of charitable organization's assets, liabilities and affairs by commissioner) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.