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Terms Used In Tennessee Code 35-3-124

  • Fiduciary: A trustee, executor, or administrator.
  • Minor: means any person who has not attained eighteen (18) years of age. See Tennessee Code 1-3-105

Notwithstanding any other law to the contrary, trustees and others acting in a fiduciary capacity, including governmental agencies such as court clerks, may invest funds held in trust for a minor through the purchase of tuition units on behalf of the minor under the Tennessee College Savings Trust Act, compiled in title 49, chapter 7, part 8.