71-3-165 - Investment of funds in individual development or other accounts. - Tennessee Statutes

71-3-165. Investment of funds in individual development or other accounts.

Any individual development accounts or other such accounts established for the benefit of recipients under §§ 71-3-151 71-3-165 or related programs shall be administered as approved by the state treasurer, who shall prescribe investment procedures for the corpus of such funds in a manner that the state treasurer determines in consultation with the commissioners of human services and finance and administration; provided, that the interest accruing from such accounts shall remain in those accounts and shall be distributed to the recipients, on an equitable basis, in the manner determined by the state treasurer in consultation with the commissioners.

[Acts 1996, ch. 950, § 34.]