Tennessee § 56-52-107 - Examination of charitable organization's assets, liabilities and affairs by commissioner.

§ 56-52-107. Examination of charitable organization's assets, liabilities and affairs by commissioner.

Whenever the commissioner determines it to be proper or expedient, the commissioner may make or cause to be made an examination of the assets and liabilities and other affairs of the charitable organization as they pertain to charitable gift annuity agreements entered into pursuant to this chapter. In determining a charitable organization's ability to pay its obligations under charitable gift annuities, the commissioner may limit the examinations to the charitable gift annuity separate account, unless the commissioner determines that the assets in the charitable gift annuity account are not adequate for that purpose. The authority of the commissioner under this section shall be the same as that bestowed upon the commissioner under §§ 56-1-411 and 56-8-107 . The commissioner shall keep the information obtained in the course of examinations confidential until the examination is completed. The reasonable expenses incurred for an examination shall be paid by the charitable organization. Acts 2008, ch. 831, §§ 1, 8. Compiler's Notes. Former chapter 52, §§ 56-52-101 — 56-52-108 (Acts 2001, ch. 380, § 1; 2007, ch. 280, §§ 1, 2), concerning charitable gift annuities, was repealed effective January 1, 2009, by Acts 2008, ch. 831, § 1, which also enacted a new title 56, ch. 52 effective January 1, 2009. Acts 2008, ch. 831, § 15 provided that the act shall apply to charitable gift annuities entered into on or after January 1, 2009. Cross-References. Confidentiality of public records, § 10-7-504 .