Section 49-7-1405 - Revolving account established for administrative costs - Administrative fees

The state treasurer shall establish a revolving account, under the state treasurer's custody, to defray administrative costs of the investment pool. The state treasurer may deduct from each participant's pro rata earnings through the investment pool a reasonable charge for administering the investment pool. In the event that the state treasurer does deduct an administrative fee, it shall be deposited and expended through the revolving account.Added by 2015 Tenn. Acts, ch. 324,s 1, eff. 4/28/2015.