Tennessee Statutes
§ 6-56-107 — Selection of bonds for investment
Tennessee·Title 6
(a)For the purpose of carrying out § 6-56-106 , the governing body of the municipality may appoint a committee with authority to act in the premises and, unless the governing body shall designate the specific series of bonds in which such funds shall be invested, the selection of the series for investment of such funds as will be best suited to the requirements of the municipality shall be made by the committee.
(b)No liability shall attach to any member of a committee selected for the aforementioned purpose, except for misfeasance or malfeasance in the performance of the duties imposed on the committee.
Free access — add to your briefcase to read the full text and ask questions with AI
Tennessee § 6-56-107 (Selection of bonds for investment) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1943, ch. 47, § 2; C. Supp. 1950, § 3516.30 (Williams, § 3516.32); T.C.A. (orig. ed.), § 6-806.
Nearby Sections
15
§ 6-1-101
Charter definitions§ 6-1-202
Election to adopt charter§ 6-1-205
Effect of vote§ 6-1-206
Certification to secretary of state§ 6-1-208
Succession to old corporation§ 6-1-209
Sample petition for adoption§ 6-1-210
General validation provision§ 6-1-301
Surrender of charter