Tennessee Code 49-5-810 – Dissolution of bank
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Terms Used In Tennessee Code 49-5-810
- bank: means a local system accounting of voluntarily pooled and irrevocably donated accumulated personal sick leave that is collected for the purpose of providing sick leave to members of the program who have suffered an unplanned personal illness, injury, disability or quarantine and whose personal sick leave is exhausted. See Tennessee Code 49-5-802
- participant: means any teacher who has joined the bank by making the initial donation of the minimum number of days necessary and has donated the subsequently assessed days. See Tennessee Code 49-5-802
- Sick leave: means a designated amount of compensation leave accumulated pursuant to §. See Tennessee Code 49-5-802
In the event the sick leave bank is dissolved, the total days on deposit shall be returned to the then participating members and credited to their personal sick leave accumulation in proportion to the number of days each has contributed individually. Days returned under this section and credited to the individual participant‘s accumulation shall be rounded to the nearest one-half (1/2) day.