Tennessee Code 8-50-909 – Dissolution
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Tennessee Code 8-50-909
- bank: means a system of accounting for voluntarily pooled and irrevocably donated accumulated personal sick leave which is collected for the purpose of providing sick leave to members of the program who have suffered a personal illness, surgery, disability or quarantine and whose sick leave is exhausted. See Tennessee Code 8-50-901
- participant: means any state employee who has joined the bank by making the initial donation of the minimum number of days necessary and has donated subsequently assessed days. See Tennessee Code 8-50-901
- Sick leave: means a designated amount of compensated leave accumulated pursuant to part 8 of this chapter that is granted to a member who through personal illness, injury, disability or quarantine, is unable to perform the duties of the member's state position. See Tennessee Code 8-50-901
In the event the sick leave bank is dissolved, the total number of 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 (½) day.