Tenn. Code Ann. § 9-4-308
Transfer of funds through federal reserve banking system
Redline — September 1, 2020 → current.View current text →
Current — September 30, 2020
As of September 1, 2020
The state treasurer, in the exercise of such state treasurer's official duties, is hereby authorized to enter into a contract with a federal reserve member bank or trust company located in Tennessee, including the trust company created by chapter 4, part 8 of this title, for the purpose of transferring public funds and funds of the Tennessee consolidated retirement system through the facilities of the federal reserve banking system.
The state treasurer, in the exercise of the state treasurer's official duties, is hereby authorized to enter into agreements with any federal reserve bank as the state treasurer deems necessary or advisable, for the purpose of transferring funds through the facilities of the federal reserve banking system. Such agreements may contain terms and conditions determined by the state treasurer to be advisable, including, but not limited to, provisions relative to indemnification, hold harmless, and choice of law.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.