As of July 1, 1999, all assets credited to the state accumulation fund on account of a regional library board's participation in the retirement system shall be transferred to the state. Upon such transfer, the state shall be liable for the payment of any retirement allowances or other benefits on account of those individuals who were employed by a regional library board prior to July 1, 1999.Acts 1972, ch. 814, § 10; T.C.A., § 8-3934(1)(b); Acts 1999, ch. 205, § 19.
Tennessee Legal Code