(a) The state treasurer has final authority over an investment or proxy voting decision for a program.

Terms Used In Tennessee Code 9-4-1404

  • Contract: A legal written agreement that becomes binding when signed.
  • Fiduciary: A trustee, executor, or administrator.
  • Program: means any of the following which are established by law and for which the state treasurer has, or has been delegated, investment authority, oversight, and responsibility:
    (A) A trust fund. See Tennessee Code 9-4-1401
  • Proxy voting: The practice of allowing a legislator to cast a vote in committee for an absent legislator.
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • 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
(b) The state treasurer may make and enter into contracts, agreements, and other instruments with an individual or entity to effectuate this part, including, but not limited to, advisors, research providers, consultants, and other contractors, who must be compensated as the state treasurer may deem just.
(c) Notwithstanding another law to the contrary, in cases where the interest of the state treasurer requires additional legal counsel to effectuate this part and to advise on issues concerning the state treasurer’s fiduciary obligations and responsibilities, the state treasurer, with the approval of the attorney general and reporter, may contract with additional counsel, who must be paid such compensation for services as the treasurer may deem just.
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