Tennessee § 9-4-503 - Application for participation in collateral pool.
Full text of Tennessee Tennessee Code Annotated § 9-4-503 — Application for participation in collateral pool., with citation guidance and answers to common questions.
§ 9-4-503. Application for participation in collateral pool.
Any public depository which holds public deposits may apply to the board for permission to participate in the collateral pool to secure all public deposits at such public depository. An application submitted pursuant to this part is subject to the approval of the board. The board shall set the number of votes required for the approval of such applications. The board may require such information regarding the financial condition of the public depository as the board deems necessary for determining the suitability of that depository to participate in the collateral pool. Prior to participation in the collateral pool, a qualified public depository shall execute a depository pledge agreement. Acts 1990, ch. 1043, § 1; 1996, ch. 621, §§ 7, 8. Compiler's Notes. Former part 5, §§ 9-4-501 — 9-4-511 (Acts 1980, ch. 449, §§ 1-10, 12; T.C.A., §§ 9-5-401 — 9-5-410 , 9-5-412 ; Acts 1985, ch. 118, § 40; 1986, ch. 551, §§ 4-7; 1988, ch. 602, §§ 2-6), concerning an alternate method of securing the deposit of state funds, was repealed effective January 1, 1991 by Acts 1990, ch. 1043, § 1, which also enacted a new title 9, ch. 4, part 5 concerning a collateral pool for public deposits, effective January 1, 1991.
Frequently Asked Questions About Tennessee § 9-4-503
What does Tennessee Code Annotated § 9-4-503 cover?
Section 9-4-503 ("Application for participation in collateral pool.") 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 § 9-4-503?
A common citation format is "Tennessee Code Annotated § 9-4-503" (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 § 9-4-503 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.