Tennessee Code 65-160 – Interest of trustees in investments prohibited – Unauthorized emoluments prohibited – Improper use of funds
Terms Used In Tennessee Code 65-160
- board: means the board provided for in part 3 of this chapter. See Tennessee Code 8-34-101
- Commissioner: means any person in office as a member of the public service commission, as prescribed by title 65, chapter 1, prior to June 30, 1996. See Tennessee Code 8-34-101
- Member: means any person included in the membership of the retirement system, as provided in chapter 35, part 1 of this title. See Tennessee Code 8-34-101
- Retirement: means withdrawal from membership with a retirement allowance granted under chapters 34-37 of this title. See Tennessee Code 8-34-101
- Retirement system: means the Tennessee consolidated retirement system as defined in §. See Tennessee Code 8-34-101
- Service: means service as a general employee, a teacher, a state police officer, a wildlife officer, a firefighter, a police officer, a state judge, a county judge, an attorney general, a commissioner or a county official which is paid for by an employer, and also includes service for which a former member of the general assembly is entitled to under former §. See Tennessee Code 8-34-101
No member of the board shall have an interest, direct or indirect, in the gains or profits of any investment made by the board, save insofar as any member may be a commissioner participating in the public service commissioners’ retirement system, and no member of the board shall receive, directly or indirectly, any payment or emolument for his services except as expressly provided in §§ 65-151 – 65-168. No member of the board shall, directly or indirectly, for himself or an agent, in any manner use the funds or deposits of the public service commissioners’ retirement system, except to make such payments therefrom as are authorized by the board, nor shall any member become an indorser or surety or in any manner an obligor for moneys loaned by or borrowed from the board.