Secured negotiable obligations of the small business investment companies and negotiable obligations endorsed with recourse by the companies when adequately secured shall be eligible for purchase by insurance companies, investment companies and industrial development corporations, by the board of trustees administering any employee or profit-sharing trust, by the board of trustees of eleemosynary institutions and corporations, and by trustees and other fiduciaries. The same degree of care shall be exercised in making purchases of the obligations by fiduciaries as is required in making investments under § 35-3-117.
Structure 2021 Tennessee Code
Title 45 - Banks and Financial Institutions
Chapter 8 - Small Business Investment Development
Part 1 - Small Business Investment Companies
§ 45-8-101. Functions and Powers — Supervision
§ 45-8-102. Purchase of Stock by State Banks Authorized
§ 45-8-103. Purchase of Companies' Negotiable Obligations by Authorized Companies