Tennessee § 35-50-111 - Fiduciary bond on interest.
Full text of Tennessee Tennessee Code Annotated § 35-50-111 — Fiduciary bond on interest., with citation guidance and answers to common questions.
§ 35-50-111. Fiduciary bond on interest.
Whenever a fiduciary, as defined in § 35-2-102 , is required by law to execute a bond for assets placed with a financial institution in the form of a bank, trust company or savings and loan association, and the fiduciary agrees with the institution not to withdraw the principal of the assets, the bond required of the fiduciary shall be for the amount of the interest. No bond adjustment is necessary if the principal, or a portion of the principal, is withdrawn with court approval. The authorization for elimination of bond on the principal so deposited with the financial institution shall not apply unless the agreement by the fiduciary with the institution is approved by the court charged with administering the funds or the estate of the minor, and unless the agreement is filed in and enforced by the court. Acts 1976, ch. 675, § 2; T.C.A., § 35-621.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 35-50-111
What does Tennessee Code Annotated § 35-50-111 cover?
Section 35-50-111 ("Fiduciary bond on interest.") 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 § 35-50-111?
A common citation format is "Tennessee Code Annotated § 35-50-111" (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 § 35-50-111 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.