66-29-120 - Disposition of property having no commercial value. - Tennessee Statutes

66-29-120. Disposition of property having no commercial value.

Any property delivered to the treasurer pursuant to this part which has no apparent commercial value shall be retained by the treasurer until such time as the treasurer determines to destroy or otherwise dispose of it. Prior to the destruction or disposal of any such property, the determination of the treasurer shall be approved by the commissioner of general services and the attorney general and reporter. Once the destruction or disposition of the property has been approved, the treasurer may at any time thereafter destroy or otherwise dispose of such property, and in that event, no action or proceeding shall be brought or maintained against the state or any officer thereof for or on account of any action taken by the treasurer pursuant to this part with respect to such property.

[Acts 1978, ch. 561, § 20; 1979, ch. 226, § 22; T.C.A., § 64-2920.]