Tennessee Code 8-3446 – Personal interest of board members and employees prohibited
Terms Used In Tennessee Code 8-3446
- board: means the board provided for in part 3 of this chapter. See Tennessee Code 8-34-101
- Member: means any person included in the membership of the retirement system, as provided in chapter 35, part 1 of this title. See Tennessee Code 8-34-101
- Retirement: means withdrawal from membership with a retirement allowance granted under chapters 34-37 of this title. See Tennessee Code 8-34-101
- Retirement system: means the Tennessee consolidated retirement system as defined in §. See Tennessee Code 8-34-101
No member of the board and no employee of the board shall have an interest, direct or indirect, in the gains or profits of any investment made by the board, save insofar as any such member may be a member or beneficiary of the retirement system, and no member of the board shall receive, directly or indirectly, any pay or emolument for his services except as expressly provided in this chapter. No member of the board or employee thereof shall, directly or indirectly, for himself or as an agent, in any manner use the funds or deposits of the retirement system, except to make such payments therefrom as are authorized by the board, nor shall any member or employee of the board become an indorser or surety or in any manner an obligor for moneys loaned by or borrowed from the board.