Tennessee § 12-3-603 - Regulations regarding cost principles.
Full text of Tennessee Tennessee Code Annotated § 12-3-603 — Regulations regarding cost principles., with citation guidance and answers to common questions.
§ 12-3-603. Regulations regarding cost principles.
The chief procurement officer shall propose regulations for approval by the procurement commission setting forth cost principles which shall be used to determine the allowability of incurred costs for the purpose of reimbursing costs under contract provisions that provide for the reimbursement of costs; provided, that if a written determination is made by the chief procurement officer to justify such action, such cost principles may be modified by contract and reported to the comptroller of the treasury. Acts 1981, ch. 332, § 20; 2010, ch. 1098, § 2; 2011, ch. 295, §§ 5, 19; 2013, ch. 403, § 37; T.C.A. § 12-3-303 . Compiler's Notes. For the disposition of sections in title 12, ch. 3, as amended by Acts 2013, ch. 403, effective July 1, 2013, please see the table of disposition in § 12-3-101 . Former title 12, ch. 3, part 6, §§ 12-3-601 — 12-3-612 was transferred to title 12, ch. 3, part 9 by Acts 2013, ch. 403, §§ 50-58, and former title 12, ch. 3, part 3 was transferred to this part by Acts 2013, ch. 403, §§ 35-37, effective July 1, 2013. Acts 2013, ch. 403, § 83 provided that the act, which transferred former title 12, ch. 3, part 6 to title 12, ch. 3, part 9 and transferred former title 12, ch. 3, part 3 to this part, shall apply to contracts entered into or renewed on and after July 1, 2013.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 12-3-603
What does Tennessee Code Annotated § 12-3-603 cover?
Section 12-3-603 ("Regulations regarding cost principles.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 12-3-603?
A common citation format is "Tennessee Code Annotated § 12-3-603" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 12-3-603 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.