HB3438 - Tennessee - Banks And Financial Institutions, Fiduciaries

Companion Bill SB2748. Fiduciaries - Expands the type of investments a fiduciary is authorized to make. - Amends TCA Title 35 and Title 45. Fiscal Summary for HB3438 / *SB2748 MINIMAL Bill Summary for HB3438 / *SB2748 Under present law, if a fiduciary is directed, required, authorized, or permitted by an instrument creating the fiduciary relationship to invest in United States government obligations, then the fiduciary may make such investments either directly or in the form of interests in an open-end management investment company registered under the federal Investment Company Act, if the portfolio of the company is limited to United States government obligations and repurchase agreements fully collateralized by United States government obligations. This bill extends the types of investments such a fiduciary may [...]

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