Statutes > Tennessee Statutes > Title 9 - Public Finances > Chapter 4 - State Funds, State Budget and Appropriations > Part 4 - Security > 9-4-403 - Giving of security.

9-4-403 - Giving of security.

9-4-403. Giving of security.

All state funds held in state depositories, including those held in the name of the state trust of Tennessee, shall be secured by required collateral as provided in § 9-4-404, except for funds on deposit in the name of the state or the state trust of Tennessee with a federal reserve bank. State funds placed by the state treasurer in the state trust of Tennessee are exempt from the collateral requirements.

[Acts 1985, ch. 118, § 33.]