STATE STATUTES & CODES
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TENNESSEE STATUTES AND CODES
50-7-507 - Investment and securing of funds Interest.
50-7-507. Investment and securing of funds Interest.
(a) All moneys in the state treasury in funds created by this chapter shall be invested and secured under title 9, chapter 4, parts 1-4 and 6-8; provided, that in the event of any conflict between this section and § 50-7-501(b), § 50-7-501(b) shall control.
(b) The state treasurer shall periodically review the balances in the various funds created pursuant to this chapter and allocate the interest as is payable pursuant to title 9, chapter 4, parts 1-4 and 6-8.
(c) The state treasurer shall prorata reduce interest allocations to all funds for which interest is paid pursuant to this section, if necessary, to compensate for any account or fund having a negative balance for the period for which interest allocations are made.
[Acts 1985, ch. 118, § 73; 1986, ch. 551, § 10.]