9-4-801 - Creation Trust company.
9-4-801. Creation Trust company.
(a) There is hereby created the state trust of Tennessee, herein sometimes referred to as the trust company. A public corporation and instrumentality of the state, the trust company is deemed to be acting in all respects for the benefit of the people of the state and is deemed to be serving a public purpose in the performance of the essential public functions entrusted to it.
(b) The trust company may begin operations at any time after March 27, 1978, upon filing of the trust company charter with the secretary of state. The charter shall also be recorded in the office of the register of deeds of Davidson County, in which shall be located the principal office of the trust company.
(c) The trust company and its corporate existence shall continue until terminated by law.
[Acts 1985, ch. 118, § 53.]