'Default' may include, but is not limited to:(1) The failure of any state depository to return any state deposit, including earned interest, in accordance with the terms of the deposit contract;(2) The failure of any state depository to pay any check, draft or warrant drawn by the state treasurer;(3) The failure of any state depository to honor any request for electronic transfer of funds to the state;(4) The failure of any state depository to account for any check, draft, warrant, order, deposit certificate or money entrusted to it by the state;(5) The issuance of any order of any court or the taking of any formal action by any supervisory authority, which has the effect of restraining a state depository from making payments of deposit liabilities;(6) The appointment of a receiver for a state depository; or(7) Any other action which the state treasurer determines to place state deposits in jeopardy.Acts 1985, ch. 118, § 14.
Tennessee Legal Code