Tennessee § 49-1507 - Pecuniary interest of trustees and employees prohibited.
Full text of Tennessee Tennessee Code Annotated § 49-1507 — Pecuniary interest of trustees and employees prohibited., with citation guidance and answers to common questions.
§ 49-1507. Pecuniary interest of trustees and employees prohibited.
Except as otherwise herein provided, no trustee and no employee of the board of trustees shall have any direct interest in the gains or profits of any investment made by the board of trustees, nor as such receive any pay or emolument for his service. No trustee or employee of the board shall directly or indirectly for himself or as an agent in any manner use the same, except to make such current and necessary payments as are authorized by the board of trustees upon proper vouchers to the state treasurer, nor shall any trustee or employee of the board of trustees become an indorser or surety or in any manner an obligor for moneys loaned to or borrowed from the board of trustees. Acts 1945, ch. 29, § 7; C. Supp. 1950, § 2540.7 (Williams, § 2524.7).
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 49-1507
What does Tennessee Code Annotated § 49-1507 cover?
Section 49-1507 ("Pecuniary interest of trustees and employees prohibited.") 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 § 49-1507?
A common citation format is "Tennessee Code Annotated § 49-1507" (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 § 49-1507 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.