Tennessee § 8-27-803 - Trusts to be irrevocable — Administration of trusts — Protection of trust assets, income and distributions.
Full text of Tennessee Tennessee Code Annotated § 8-27-803 — Trusts to be irrevocable — Administration of trusts — Protection of trust assets, income and distributions., with citation guidance and answers to common questions.
§ 8-27-803. Trusts to be irrevocable — Administration of trusts — Protection of trust assets, income and distributions.
Any trust created under this part shall be an irrevocable trust and the assets thereof shall be preserved, invested and expended solely pursuant to and for the purposes of this part and shall not be loaned or otherwise transferred or used for any other purpose. The assets of the trust or trusts shall be expended solely to: Make payments for other post-employment benefits pursuant to and in accordance with terms of the state's post-employment benefit plans; Make payments for other post-employment benefits pursuant to and in accordance with the terms of certain local education agencies' post-employment benefits plans, at the discretion of and subject to requirements established by the trustees; and Pay the cost of administering the trust. The state treasurer shall administer any trust created under this part. The attorney general and reporter shall approve the terms of any trust created under this part. Any investment trust so created shall have the powers, privileges and immunities of a corporation; and all of its business shall be transacted, all of its funds invested, and all of its cash and securities and other property held in trust for the purpose for which received. Notwithstanding any law to the contrary, all assets, income and distributions of the investment trust shall be protected against the claims of creditors of the state, plan administrators, and plan participants, and shall not be subject to execution, attachment, garnishment, the operation of bankruptcy, the insolvency laws or other process whatsoever, nor shall any assignment thereof be enforceable in any court. Acts 2015, ch. 426, § 5; 2018, ch. 631, § 7. Amendments. The 2018 amendment, in (a), redesignated former (2) as present (3) and added present (2). Effective Dates. Acts 2018, ch. 631, § 11. April 2, 2018.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 8-27-803
What does Tennessee Code Annotated § 8-27-803 cover?
Section 8-27-803 ("Trusts to be irrevocable — Administration of trusts — Protection of trust assets, income and distributions.") 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 § 8-27-803?
A common citation format is "Tennessee Code Annotated § 8-27-803" (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 § 8-27-803 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.