Tennessee § 9-9-108 State funding board's authority to deposit or transfer funds

Tennessee Statutes

§ 9-9-108 — State funding board's authority to deposit or transfer funds

Tennessee § 9-9-108

Title9

This text of Tennessee § 9-9-108 (State funding board's authority to deposit or transfer funds) 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. § 9-9-108 (2026).

Text

The state funding board may:

(1)Deposit funds and revenues paid to it in the pooled investment fund authorized by § 9-4-603 or in a deposit account at a bank or trust company located within or without this state, which will give such security for such deposit of the kind and type now required by law for the deposit of other state funds; or (2) Transfer cash, pending its application to the payment of the principal of or interest on the outstanding obligations of the state, into a fiduciary or trust account with a bank or trust company located within or without this state, under terms as the board may require to ensure the safety of the funds.

Free access — add to your briefcase to read the full text and ask questions with AI

The state funding board may: (1) Deposit funds and revenues paid to it in the pooled investment fund authorized by § 9-4-603 or in a deposit account at a bank or trust company located within or without this state, which will give such security for such deposit of the kind and type now required by law for the deposit of other state funds; or (2) Transfer cash, pending its application to the payment of the principal of or interest on the outstanding obligations of the state, into a fiduciary or trust account with a bank or trust company located within or without this state, under terms as the board may require to ensure the safety of the funds.

Legislative History

Acts 1937, ch. 165, § 10 (Williams, § 1811.21); impl. am. Acts 1959, ch. 9, § 8; T.C.A. (orig. ed.), § 9-909; Acts 1985, ch. 118, § 65; 2000, ch. 598, § 2.