Tennessee Code 9-4-1402 – Treasury investment division staff – Investment of program assets
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Tennessee Code 9-4-1402
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Program: means any of the following which are established by law and for which the state treasurer has, or has been delegated, investment authority, oversight, and responsibility:
(A) A trust fund. See Tennessee Code 9-4-1401 - State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
Consistent with the prudent investor rule pursuant to § 35-14-103, the standard of care pursuant to § 35-14-104, and the exercise of reasonable care in delegation of investment and management functions pursuant to § 35-14-111 and § 8-37-112, the department of treasury investment division staff, under the supervision of the state treasurer, shall invest, reinvest, manage, and select investment options for program assets for financial reasons for the exclusive benefit of the beneficiaries of the programs while maximizing long-term shareholder value.