4-17-404 - Creation. - Tennessee Statutes

4-17-404. Creation.

There is hereby created a body, politic and corporate, to be known as the Tennessee industrial finance corporation. The corporation, a political subdivision and instrumentality of the state, is deemed to be acting in all respects for the benefit of the people of the state in the performance of essential public functions, and is deemed to be serving a public purpose and improving and otherwise promoting their health, welfare, and prosperity. The corporation is empowered to act on behalf of the state and its people in serving this public purpose for the benefit of the general public.

[Acts 1995, ch. 443, § 4.]