Tennessee § 9-4-407 - Safekeeping of securities.
Full text of Tennessee Tennessee Code Annotated § 9-4-407 — Safekeeping of securities., with citation guidance and answers to common questions.
§ 9-4-407. Safekeeping of securities.
The state treasurer is expressly authorized to contract for the safekeeping and servicing of eligible collateral and/or securities owned by the Tennessee consolidated retirement system and/or other securities of which the state treasurer is the custodian. The state treasurer is expressly authorized, if the state treasurer deems it advisable, to insure securities against theft or other loss. All expenses incidental to the safekeeping and servicing of securities other than eligible collateral shall be paid by the state agency or the retirement system charged with the responsibility of the securities. The state of Tennessee shall be liable to the state depository for any loss of eligible collateral arising from embezzlement and/or theft while in the possession of the state treasurer or under the state treasurer's dominion or control under this section. The state of Tennessee is not liable, however, for loss to the state depository from market fluctuations in the value of collateral or loss to such depository while the collateral is in possession of any common carrier in route to or from the state depository to or from the state treasurer. Acts 1985, ch. 118, § 37.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 9-4-407
What does Tennessee Code Annotated § 9-4-407 cover?
Section 9-4-407 ("Safekeeping of securities.") 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 § 9-4-407?
A common citation format is "Tennessee Code Annotated § 9-4-407" (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 § 9-4-407 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.