Tennessee Code 9-4-503 – Application for participation in collateral pool
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Terms Used In Tennessee Code 9-4-503
- Board: means the collateral pool board created pursuant to §. See Tennessee Code 9-4-502
- Collateral pool: means an arrangement whereby the repayment of public deposits deposited with any qualified public depository is secured through the sum total of eligible collateral pledged by all qualified public depositories, and contingent liability agreements as provided by the collateral pool board. See Tennessee Code 9-4-502
- Depository pledge agreement: means the contract between the state treasurer, a qualified public depository, and a trustee custodian providing for the pledge and deposit of collateral, and other provisions determined by the state treasurer. See Tennessee Code 9-4-502
- Public depository: means :
(i) Any savings and loan association, or savings bank (collectively referred to as savings institutions), or any bank chartered by the state of Tennessee. See Tennessee Code 9-4-502 - Qualified public depository: means any public depository that meets all of the requirements of this part and that has been authorized by the board to secure public deposits through the collateral pool. See Tennessee Code 9-4-502