The state treasurer shall establish a revolving account, under the state treasurer's custody, to defray administrative costs of the investment pool. The state treasurer may deduct from each participant's pro rata earnings through the investment pool a reasonable charge for administering the investment pool. In the event that the state treasurer does deduct an administrative fee, it shall be deposited and expended through the revolving account.
Structure 2021 Tennessee Code
Chapter 7 - Postsecondary and Higher Education Generally
Part 14 - Higher Education Foundation Investment Pool
§ 49-7-1401. Higher Education Foundation Investment Pool Created
§ 49-7-1403. Administration of Pool
§ 49-7-1405. Revolving Account Established for Administrative Costs — Administrative Fees