Tennessee Code 34-5-115 – Time allowed to make investment
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Terms Used In Tennessee Code 34-5-115
- Court: means any court having jurisdiction to hear matters concerning guardians or conservators. See Tennessee Code 34-1-101
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Guardian: means any fiduciary for the person or estate of a ward. See Tennessee Code 34-5-102
Pending time the investments are being made by the guardian, the guardian shall not be chargeable with interest; provided, that the guardian shall not be allowed more than four (4) months in which to make the investment. If the guardian does not make specified investments in or on the securities named in § 34-5-114, the guardian shall be charged with the rate of interest, not exceeding six percent (6%) as the court in which the guardianship is pending may determine to be the fair value of the use of money at that time.