(a) Any person, association or corporation may make contributions to the trust corporation for the benefit of the trust pursuant to this part, and the trust corporation is authorized to accept funds and deposit the funds in the trust for higher education.

Terms Used In Tennessee Code 49-7-606

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
(b) In addition, the trust corporation is authorized to accept gifts of land for the benefit of the trust. Gifts of land shall be made in the name of the trust corporation with appropriate language of limitation.
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