Tennessee Code 49-1507 – Pecuniary interest of trustees and employees prohibited
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Terms Used In Tennessee Code 49-1507
- board: means the board provided for in part 3 of this chapter. 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
- State: means the state of Tennessee. See Tennessee Code 8-34-101
- Trustee: A person or institution holding and administering property in trust.
Except as otherwise herein provided, no trustee and no employee of the board of trustees shall have any direct interest in the gains or profits of any investment made by the board of trustees, nor as such receive any pay or emolument for his service. No trustee or employee of the board shall directly or indirectly for himself or as an agent in any manner use the same, except to make such current and necessary payments as are authorized by the board of trustees upon proper vouchers to the state treasurer, nor shall any trustee or employee of the board of trustees become an indorser or surety or in any manner an obligor for moneys loaned to or borrowed from the board of trustees.