Except as otherwise provided, no board member nor employee of the board shall have any personal interest in the gains or profits of any investment made by the board; nor shall any board member or employee of the board, directly or indirectly, for the member or employee or as an agent, in any manner for the member or employee or as an agent, in any manner use the gains or profits except to make the current and necessary payments authorized by the board; nor shall any member or employee of the board become an endorser or surety, or in any manner an obligor, for money loaned to or borrowed from the board.
Structure 2021 Tennessee Code
Chapter 7 - Postsecondary and Higher Education Generally
Part 8 - The Tennessee College Savings Trust Act
§ 49-7-805. Board of Trustees — Powers and Duties
§ 49-7-813. Custodian of Funds — Disbursements
§ 49-7-815. Powers of Funds' Trustees
§ 49-7-816. Transaction of Business — Nominees
§ 49-7-817. Personal Interest in Investments Prohibited
§ 49-7-821. Cooperation From Other State Agencies
§ 49-7-822. Exemption of Assets and Benefits From Taxation, Execution, Garnishment and Assignment