Tennessee § 49-3-358 - BEP account — Exemption from trustee's commission.
Full text of Tennessee Tennessee Code Annotated § 49-3-358 — BEP account — Exemption from trustee's commission., with citation guidance and answers to common questions.
§ 49-3-358. BEP account — Exemption from trustee's commission.
There is established within the education trust fund of 1992, created by this part, a special revenue account to be known as the basic education program (BEP) account. All appropriations from the education trust fund of 1992, and such other appropriations as may be provided by law, will be credited to the BEP account. The appropriations will be credited to the account on the fifteenth day of the second month of each quarter or on such other schedule approved by the commissioners of education and finance and administration. The principal and interest of the BEP account, and any part of the BEP account, will be subject to payment under this chapter. The commissioner shall administer the BEP account and is authorized to make disbursements from the account in accordance with § 9-4-601. Money in the BEP account shall be invested by the state treasurer for the benefit of the account pursuant to § 9-4-603. Interest accruing on investments and deposits to the account shall be returned to the account and become part of the account. Any unencumbered funds or any unexpended balance of the BEP account remaining at the end of any fiscal year shall not revert to the general fund of the state or the education trust fund of 1992, but shall be carried forward until expended in accordance with this chapter. All state funds available to any LEA that exceed the amount of state funds provided for public education in each respective LEA in the 1991-1992 fiscal year shall be exempt from the trustee's commission authorized by § 8-11-110. Acts 1992, ch. 535, § 3.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 49-3-358
What does Tennessee Code Annotated § 49-3-358 cover?
Section 49-3-358 ("BEP account — Exemption from trustee's commission.") 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 § 49-3-358?
A common citation format is "Tennessee Code Annotated § 49-3-358" (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 § 49-3-358 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.