Tennessee § 6-56-406 - Compliance.
Full text of Tennessee Tennessee Code Annotated § 6-56-406 — Compliance., with citation guidance and answers to common questions.
§ 6-56-406. Compliance.
Municipalities shall comply with the requirement that they have a certified municipal finance officer (CMFO) in their employ based on the following schedule determined by the gross revenues the municipality derived from all funds, including utilities, during the July 1, 2006, to June 30, 2007, fiscal year: Gross revenues Compliance date $10 million or more January 1, 2011 $5 million to $9,999,999.99 January 1, 2012 Less than $5 million January 1, 2013 After the compliance date applicable to a municipality has passed and it later becomes necessary for the municipality to hire an individual in a position in which the CMFO designation is required, the individual hired shall either be exempt as provided in § 6-56-405 or shall become certified within two (2) years of the hiring date. If a municipality is in compliance before the applicable mandatory compliance date in subsection (a) and the CMFO or exempt finance officer leaves employment with the municipality within two (2) years before the applicable mandatory compliance date, leaving the municipality in noncompliance, the municipality shall have two (2) years from the date of the departing finance officer's last day of employment to comply. For municipalities that have been subject to § 6-56-402(b), and circumstances change that would make them subject to § 6-56-402(a), the municipality shall be required to comply with the requirements of § 6-56-402(a) within two (2) years from: The submission date of the financial report used to determine that the municipality is subject to § 6-56-402(a); or Six (6) months following the fiscal year end of the financial report used to make the determination, whichever is earlier. Acts 2007, ch. 576, § 1; 2008, ch. 929, § 1; 2013, ch. 153, § 7.
Frequently Asked Questions About Tennessee § 6-56-406
What does Tennessee Code Annotated § 6-56-406 cover?
Section 6-56-406 ("Compliance.") 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 § 6-56-406?
A common citation format is "Tennessee Code Annotated § 6-56-406" (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 § 6-56-406 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.