Tennessee Code 35-3-117 – Investment in securities of management investment company or investment trust by bank or trust company – Fiduciary liability – Abuse of fiduciary discretion
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Tennessee Code 35-3-117
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Fiduciary: A trustee, executor, or administrator.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.