Tennessee § 70-1-503 Funding - Assets

Tennessee Statutes

§ 70-1-503 — Funding - Assets

The trust must be initially funded by a deposit of all of the assets held in the wildlife management endowment fund previously created in accordance with § 70-1-501 as such section existed prior to April 14, 2022. In addition to this initial funding, the lifetime sportsman endowment fund trust must consist of the following assets deposited to or accrued in the fund:

(1)[Deleted by 2023 amendment.]

(2)The proceeds from cash donations or donations of property converted or to be converted to cash;

(3)Such other sources as may be deemed appropriate, including sources that may be specified by law; and (4) Income derived from fund investments.

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The trust must be initially funded by a deposit of all of the assets held in the wildlife management endowment fund previously created in accordance with § 70-1-501 as such section existed prior to April 14, 2022. In addition to this initial funding, the lifetime sportsman endowment fund trust must consist of the following assets deposited to or accrued in the fund: (1) [Deleted by 2023 amendment.] (2) The proceeds from cash donations or donations of property converted or to be converted to cash; (3) Such other sources as may be deemed appropriate, including sources that may be specified by law; and (4) Income derived from fund investments.

Tennessee § 70-1-503 (Funding - Assets) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Amended by 2023 Tenn. Acts, ch. 303, s 1, eff. 4/28/2023. Amended by 2022 Tenn. Acts, ch. 874, s 3, eff. 4/14/2022. Amended by 2015 Tenn. Acts, ch. 196, s 2, eff. 4/22/2015. Acts 1998, ch. 610, § 2.