9-4-803 - Powers. - Tennessee Statutes

9-4-803. Powers.

The trust company may:

     (1)  Enter into contracts, trust agreements, and other fiduciary instruments;

     (2)  Adopt, use and display a corporate seal;

     (3)  Adopt and amend bylaws, rules and regulations for carrying out the purposes of this part;

     (4)  Receive, transfer and disburse money and other property on behalf of the state, the Tennessee consolidated retirement system, and such other governmental agencies and instrumentalities whose funds are managed by the state treasurer;

     (5)  Subscribe to the stock of the appropriate federal reserve bank;

     (6)  Issue capital stock in an amount deemed necessary to obtain the services of the federal reserve system;

     (7)  Manage and invest money and other property on behalf of the state; and

     (8)  Have such powers as are necessary and convenient to carry out the purpose for which the trust company is organized.

[Acts 1985, ch. 118, § 55.]