Tennessee HB1794 allows school districts to establish investment pools for their funds.
Tennessee HB1794 amends Tennessee Code Annotated, Title 9 and Title 49, to allow school districts to establish investment pools for their funds. These pools can be created by written agreement and must include a written investment policy. The funds invested in these pools must remain in the custody of the establishing school districts or a designated board of directors. The act also mandates that written agreements and investment policies be filed with the comptroller of the treasury and that the pools are subject to audit and review. The act takes effect upon becoming law.
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- Legal Framework
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