Tennessee § 70-1-503 Funding - Assets

Tennessee Statutes

§ 70-1-503 — Funding - Assets

Tennessee § 70-1-503

Title70

This text of Tennessee § 70-1-503 (Funding - Assets) 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. § 70-1-503 (2026).

Text

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.

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.