Tennessee Code 49-7-1405 – Revolving account established for administrative costs – Administrative fees
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Terms Used In Tennessee Code 49-7-1405
- State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
The state treasurer shall establish a revolving account, under the state treasurer’s custody, to defray administrative costs of the investment pool. The state treasurer may deduct from each participant’s pro rata earnings through the investment pool a reasonable charge for administering the investment pool. In the event that the state treasurer does deduct an administrative fee, it shall be deposited and expended through the revolving account.