69-5-931 - County trustee's compensation. - Tennessee Statutes

69-5-931. County trustee's compensation.

The county trustee, for receiving and paying out money received from the sale of bonds and warrants issued and sold under the provisions of this part, shall be entitled to a commission of one half of one percent (0.5%) for receiving the same, and one half of one percent (0.5%) for paying out the same. The trustee shall pay over to the trustee's successor in office any of the moneys and funds remaining in the trustee's hands at the expiration of the trustee's term of office, when the successor trustee has executed bond, as provided by § 69-5-908. It is the duty of such succeeding trustee to execute such bond, and for failure to do so, the succeeding trustee shall be liable to the penalties provided by § 69-5-908. Whichever trustee actually disburses the funds so arising from the sale of bonds or warrants shall be entitled to the commission of one half of one percent (0.5%); provided, that the succeeding trustee shall not be entitled to any commissions for receiving such funds from the predecessor trustee.

[Acts 1913 (1st E.S.), ch. 25, § 12; Shan., § 3871a140; Code 1932, § 4375; T.C.A. (orig. ed.), § 70-1432; T.C.A. § 69-6-931.]