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TENNESSEE STATUTES AND CODES
6-4-402 - Depositories of municipal funds.
6-4-402. Depositories of municipal funds.
Depositories of the municipal funds shall be designated by ordinance. The board shall require any financial institution that becomes a depository of municipal funds to secure such funds by collateral in the same manner and under the same conditions as state deposits under title 9, chapter 4, parts 1 and 4, or as provided in a collateral pool created under title 9, chapter 4, part 5.
[Acts 1991, ch. 154, § 1; 1994, ch. 752, § 4.]
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