Tennessee Code 66-29-137 – Income or gain realized or accrued on property
Current as of: 2023 | Check for updates
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Terms Used In Tennessee Code 66-29-137
- Owner: includes :
(A) A depositor, for a deposit. See Tennessee Code 66-29-102 - Property: means tangible property described in §. See Tennessee Code 66-29-102
- State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Tennessee Code 66-29-102
- Treasurer: means the state treasurer. See Tennessee Code 66-29-102
If property other than money is delivered to the treasurer, the owner is entitled to receive from the treasurer income or gain realized or accrued on the property before the property is sold, including, if applicable, dividends, interest, or other increments. If the property was an interest-bearing demand, savings, or time deposit, the treasurer shall pay interest annually at the average annual rate paid on funds in the state pooled investment fund established under § 9-4-603. Interest begins to accrue when the property is delivered to the treasurer and ends on the date on which payment is made to the owner.