The state funding board is expressly authorized to contract with a bank or trust company located within or without this state to act as a custodian for securities held by or for the benefit of the board, including collateral pledged pursuant to § 9-9-108(1), under terms as the board may require to ensure the safety of the securities.
Structure 2021 Tennessee Code
Chapter 9 - Funding of State Debt
§ 9-9-101. State Funding Board
§ 9-9-102. Maintenance of Records on the Condition of All Debt Obligations and Payments
§ 9-9-103. Debt Service Payments
§ 9-9-106. Certification of Amount Necessary for Payment of Debt Obligations
§ 9-9-107. Payments by State Funding Board
§ 9-9-108. State Funding Board's Authority to Deposit or Transfer Funds
§ 9-9-109. Custodian for Securities
§ 9-9-110. Investment of Cash Not Immediately Required
§ 9-9-111. Vested Rights of Holders of Debt Obligations
§ 9-9-112. Exemption From Taxes
§ 9-9-114. Records of State Obligations Payments
§ 9-9-116. Technical Advice — Expenses of Carrying Out Chapter
§ 9-9-117. State Immunity Preserved
§ 9-9-118. Authority to Establish Guidelines, Rules and Regulations