HB3369 - Tennessee: Fiduciaries, Trusts

Companion Bill SB2942. Trusts - Changes certain minimum criteria for bonds issued by governmental entities in which trust funds may be invested. - Amends TCA Title 35. Fiscal Summary for HB3369 / *SB2942Decrease Local Expenditures - Not Significant Bill Summary for HB3369 / *SB2942 Under the present law provisions governing investment of trust funds and municipal bonds, investments may be made in bonds and notes of any county, city, or town in any state or territory of the United States that has a population of not less than 45,000 and has not defaulted within 25 years next preceding the investment, for more than 30 days, in the payment of any part of either principal or interest of any bond, note, or other evidence of indebtedness. This bill changes the applicable population in the above provision from "not less than 45,000" to "not less [...]

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