Tennessee § 4-51-107 - Bank accounts.
Full text of Tennessee Tennessee Code Annotated § 4-51-107 — Bank accounts., with citation guidance and answers to common questions.
§ 4-51-107. Bank accounts.
In accordance with § 4-51-105(a)(16), the corporation shall establish and maintain bank accounts only in institutions deemed to be qualified public depositories pursuant to title 9, chapter 4, part 5; provided, however, that if business needs dictate the establishment of accounts with an institution other than a qualified public depository, the corporation may create such accounts after filing a statement with the state funding board describing the business need for accounts at such an institution and the corporation's plan for securing funds on deposit with such an institution. For purposes of § 45-2-611, the corporation shall be considered a “governmental entity” and funds in its possession shall be deemed to be “public funds.” Acts 2003, ch. 297, § 2. Collateral References. State lotteries: Actions by ticketholders or other claimants against state or contractor for state. 48 A.L.R.6th 243.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 4-51-107
What does Tennessee Code Annotated § 4-51-107 cover?
Section 4-51-107 ("Bank accounts.") 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 § 4-51-107?
A common citation format is "Tennessee Code Annotated § 4-51-107" (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 § 4-51-107 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.