reglab/housing_qa huggingface dataset:
TN Code § 9-4-402 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 4 - State Funds, State Budget and Appropriations|Part 4 - Security|§ 9-4-402. Reports by Commissioner of Financial Institutions

  It is the duty of the commissioner of financial institutions to advise, on a timely basis, the state treasurer and the commissioner of finance and administration of the condition of each state bank and state chartered savings and loan association, including recommendations regarding its condition and safety as a state depository.   It is the duty of the commissioner of financial institutions to make inquiry, on a timely basis, of the United States comptroller of the currency, respecting the condition and safety of each national bank as a state depository, and to advise the state treasurer and the commissioner of finance and administration of the results.   It is the duty of the commissioner of financial institutions to make inquiry, on a timely basis, of the federal deposit insurance corporation, respecting the condition and safety of each federally chartered federal savings bank as a state depository, and to advise the state treasurer and the commissioner of finance and administration of the results.   Any doubts as to the safety of any state depository shall be resolved by the state treasurer and the commissioner of finance and administration against the depository; in the event the two (2) disagree, the commissioner of financial institutions shall vote.   If determined to be necessary under subsection (d), steps toward further security or realization shall be taken in accordance with the direction of the state treasurer and the commissioner of finance and administration. Such steps may include a requirement that additional collateral be pledged or all or a portion of the state deposit may be withdrawn without penalty or forfeiture of interest.
TN Code § 9-4-403 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 4 - State Funds, State Budget and Appropriations|Part 4 - Security|§ 9-4-403. Giving of Security

 All state funds held in state depositories shall be secured by required collateral as provided in § 9-4-404, except for funds on deposit in the name of the state with a federal reserve bank.
TN Code § 9-4-404 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 4 - State Funds, State Budget and Appropriations|Part 4 - Security|§ 9-4-404. Valuation of Eligible Collateral

  The state treasurer shall evaluate the market value of required collateral monthly, and more frequently if market conditions require.   Any state depository whose collateral has a market value less than one hundred five percent (105%) of the value of its state deposits, less so much of such amount as is protected by the federal deposit insurance corporation, shall provide additional collateral at the request of the state treasurer.   If within two (2) working days such additional collateral is not provided, the state treasurer shall submit to the commissioners of financial institutions and of finance and administration a written summary of the results of the market valuation of collateral for that depository, together with a summary of the deposits secured by the collateral and take such action as a majority of these three (3) officials, based upon information received pursuant to § 9-4-402, deems appropriate. Such action may include withdrawal of part or all of the state deposit in that depository without penalty or forfeiture of interest.   The state treasurer, county trustee or other public official charged with the deposit of public funds may contract for the evaluation of the market value of required collateral. Such contract may be with any person, including a financial institution or trustee custodian; provided, that such contract may not be with the depository pledging the collateral to be valued.
TN Code § 9-4-405 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 4 - State Funds, State Budget and Appropriations|Part 4 - Security|§ 9-4-405. Interest on Collateral

 Prior to default, the state treasurer, county trustee or other public official charged with the deposit of public funds and the trustee custodian, if the collateral is held by a trustee custodian, is authorized to remit to the state depository any and all interest, distributions or prepayments of any kind, upon eligible collateral pledged by such depository.
TN Code § 9-4-406 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 4 - State Funds, State Budget and Appropriations|Part 4 - Security|§ 9-4-406. Default

  Default shall be deemed to occur whenever any state depository fails to return any state deposit including earned interest when due in accordance with the terms of the deposit contract.   In all other situations, as defined in § 9-4-102, where the safety or security of state deposits is in doubt, the state treasurer shall determine whether default has occurred, and the date on which it occurred, following consultation with the other members of the state funding board, the attorney general and reporter and the commissioner of financial institutions. Once the state treasurer has made such a determination, the other state officials with whom the state treasurer consulted shall be advised.   In the event of default by any state depository, the state depository shall be responsible for any loss to the state.   Such loss shall be satisfied out of collateral pledged by the state depository to whatever extent possible.   Collateral pledged in accordance with this part may be sold by the state treasurer or, at the direction of the state treasurer, by the trustee custodian or any other person, including a federal agency, holding such collateral. In the alternative, the state treasurer may choose to hold such collateral. If the state treasurer holds such collateral, loss shall be reduced by the market value of the collateral and any accrued interest thereon as of the date of default.   The attorney general and reporter is authorized to prosecute, in the name of the state, actions for recovery of any loss incurred by the state under this section.   Excess proceeds, if any, realized from the sale of collateral will be returned to the defaulting state depository or its successor.
TN Code § 9-4-407 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 4 - State Funds, State Budget and Appropriations|Part 4 - Security|§ 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.
TN Code § 9-4-408 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 4 - State Funds, State Budget and Appropriations|Part 4 - Security|§ 9-4-408. Trust Receipts

  In lieu of the actual deposit of eligible collateral under § 9-4-407, the state treasurer is authorized, at the state treasurer's option, to accept trust receipts.   Trust receipts shall be issued by trustee custodians in a form acceptable to the state treasurer following the deposit of eligible collateral with the trustee custodian by a state depository.   Eligible collateral deposited with a trustee custodian shall be subject in all respects to the claims and rights of the state to the same extent as though such collateral had been physically deposited with the state treasurer under § 9-4-407.   Each trust receipt shall be nonnegotiable and irrevocable and shall continue in full force and effect until surrendered by the issuing trustee custodian with the release of the state treasurer endorsed thereon over the state treasurer's signature or as otherwise released pursuant to subsection (g) or (h).   The state treasurer may present the trust receipt at any time to the issuing trustee custodian and upon delivery thereof shall be entitled to receive any and all collateral represented thereby from the trustee custodian, and such collateral shall thereafter be held by the state treasurer as if deposited with the state treasurer by the state depository as collateral, without further liability on the part of the trustee custodian.   Following delivery of the collateral to the state treasurer, the state treasurer is permitted to register such collateral in the name of the state and to hold it on behalf of the state depository.   The state treasurer is authorized to establish alternative procedures for the deposit and release of eligible collateral held on the state treasurer's behalf by trustee custodians pursuant to this chapter.   A county or city official charged with the deposit of public funds is authorized to contract for alternative procedures for the deposit and release of eligible collateral held on the behalf of the county or city by a trustee custodian pursuant to this chapter. The alternative procedure established may be the procedure adopted by the state treasurer in subsection (g), or must provide for a release of collateral only upon the authorization of the county or city official or a person authorized by law to act on behalf of the official. The official's authorization shall be given in writing and delivered, sent or transmitted to the trustee in any reasonable manner, including, without limitation, by means of telephonic facsimile transmission.
TN Code § 9-4-409 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 4 - State Funds, State Budget and Appropriations|Part 4 - Security|§ 9-4-409. Trustee Custodians

  When any trustee custodian holds collateral for a state depository which is related to the custodian through shared ownership or control, such collateral shall be held in a restricted account at a federal reserve bank or branch thereof or at a federal home loan bank or branch thereof.   The state treasurer is expressly authorized either in person or by agent to examine and check the collateral held by the trustee custodian and to require reasonable reports from the trustee custodian.   Neither the state nor the state treasurer is liable to the state depository for eligible collateral deposited with or held by any trustee custodian, for any loss arising from any breach of the trust or agreement or from any other cause while such eligible collateral is in the possession or custody of such trustee custodian pursuant to a trust receipt.
TN Code § 9-4-501 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 4 - State Funds, State Budget and Appropriations|Part 5 - Collateral Pool for Public Deposits Act of 1990|§ 9-4-501. Short Title

 This part shall be known and may be cited as the “Collateral Pool for Public Deposits Act of 1990.”
TN Code § 9-4-503 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 4 - State Funds, State Budget and Appropriations|Part 5 - Collateral Pool for Public Deposits Act of 1990|§ 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.
TN Code § 9-4-504 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 4 - State Funds, State Budget and Appropriations|Part 5 - Collateral Pool for Public Deposits Act of 1990|§ 9-4-504. Collateral for Public Deposits

  Every qualified public depository shall deposit with the state treasurer eligible collateral equal to or in excess of the required collateral of the depository. Each qualified public depository shall calculate monthly the amount of its required collateral based upon notice of its collateral-pledging level from the board.   A qualified public depository shall maintain required collateral to secure public deposits. A qualified public depository which accepts any public deposit that would increase its required collateral by twenty-five percent (25%) shall deposit additional eligible collateral to secure such increase within two (2) business days of the deposit.   Upon approval to participate in the collateral pool, a qualified public depository may secure public deposits through the collateral pool.   A qualified public depository shall notify its public depositors that all their public deposits are secured through the collateral pool as provided in this part. The notification shall be made at the time the public depository is admitted to the collateral pool or when an account is established by a public depositor with the qualified public depository. A qualified public depository must notify its public depositors of any change in the manner collateral is held. Notice to public depositors under this part shall constitute the mailing of the appropriate information to the individual indicated on the account authorization.   A qualified public depository shall carry in its accounting records a general ledger or other appropriate account of all public deposits to be secured through the collateral pool and the total value of eligible collateral pledged to secure such deposits.    A qualified public depository may accept deposits, investments or deposits for placement as provided in § 9-1-118, and may act as custodian of other evidences of the deposits by the public entity.   Deposits placed in federally insured institutions, in amounts that are fully insured and that are not liabilities of the qualified public depository, are not included in the term average daily balance, as provided in § 9-4-502. However, any funds accepted for deposit or placement that are not placed in federally insured institutions shall be included in the term average daily balance and collateralized as provided in this section.
TN Code § 9-4-505 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 4 - State Funds, State Budget and Appropriations|Part 5 - Collateral Pool for Public Deposits Act of 1990|§ 9-4-505. Trustee Custodians

  Upon being designated as a qualified public depository, the qualified public depository shall select one (1) or more trustee custodians for the deposit of eligible collateral by the qualified public depository.   Designation of trustee custodians shall be made in accordance with § 9-4-108.   Sections 9-4-408 and 9-4-409 shall apply to trustee custodians designated under this part.   Trustee custodians shall submit a report quarterly to the state treasurer providing a description of eligible collateral securities deposited by the qualified public depository and the current par value of eligible collateral, as well as other reasonable reports requested by the state treasurer.   Neither the state, the state treasurer, nor the collateral pool shall be liable to either the qualified public depository or the public depositors for eligible collateral deposited with or held by any trustee custodian for any loss arising from any breach of the trust or from any other cause whatsoever.
TN Code § 9-4-509 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 4 - State Funds, State Budget and Appropriations|Part 5 - Collateral Pool for Public Deposits Act of 1990|§ 9-4-509. Hearing and Judicial Review — Administrative Procedure

 The Uniform Administrative Procedures Act, compiled in title 4, chapter 5, governs all matters and procedures respecting the hearing and judicial review of any contested case, as defined therein, arising under this part.
TN Code § 9-4-510 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 4 - State Funds, State Budget and Appropriations|Part 5 - Collateral Pool for Public Deposits Act of 1990|§ 9-4-510. Guarantee to Public Depositors Against Loss

 A qualified public depository shall guarantee public depositors against loss caused by the default or insolvency of other qualified public depositories as provided in § 9-4-512.
TN Code § 9-4-511 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 4 - State Funds, State Budget and Appropriations|Part 5 - Collateral Pool for Public Deposits Act of 1990|§ 9-4-511. State Treasurer — Powers

 In fulfilling the requirements of this part, the state treasurer has the power to:   Require such collateral, or increase the collateral-pledging level, of any qualified public depository as may be necessary to administer this part and to protect the integrity of the collateral pool as directed by the board;   Decline to accept, or reduce the reported value of, collateral as circumstances may require in order to ensure the pledging of sufficient marketable collateral to meet the purposes of this part;   Verify the reports of any qualified public depository relating to public deposits it holds when necessary to protect the integrity of the collateral pool;   Sell pledged securities, or move pledged securities to an account established in the state treasurer's name, for the purpose of paying losses to public depositors not covered by deposit insurance or to perfect the state treasurer's interest in the pledged securities;   Transfer funds directly from the trustee custodian to public depositors or the receiver in order to facilitate prompt payment of claims;   Provide data as may be necessary to assist the board in developing standards and criteria for the program;   Review, implement, monitor, evaluate and modify, as needed, all or any part of the standards and policies recommended by the board;   Confirm public deposits, to the extent possible under current law, when needed;   Monitor and confirm, as often as deemed necessary by the state treasurer, the pledged collateral held by trustee custodians;   Audit or verify the reports required under this part or under rules adopted under this part;   Maintain perpetual inventory of pledged collateral and perform monthly market valuations and quality ratings;   Perform financial analysis of all qualified public depositories; and   Perfect interest in pledged collateral by having pledged securities moved into an account established in the state treasurer's name. This action shall be taken at the discretion of the state treasurer.
TN Code § 9-4-512 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 4 - State Funds, State Budget and Appropriations|Part 5 - Collateral Pool for Public Deposits Act of 1990|§ 9-4-512. Payment of Losses — Procedure

 When the state treasurer determines that a default or insolvency has occurred, the state treasurer shall provide notice as required in § 9-4-513 and implement the following procedures:   The state treasurer, in cooperation with the commissioner of financial institutions, the appropriate federal regulator, or the conservator or receiver of the qualified public depository in default, shall ascertain the amount of funds of each public depositor on deposit at such depository, the amount of deposit insurance applicable to such deposits and the amount of such deposits which will not be covered through the sale of securities pledged by the defaulting depository;   Upon ascertaining the amount of such deposits which will not be covered through any applicable deposit insurance or through the sale of securities pledged by the defaulting depository, the state treasurer shall as promptly as possible provide coverage of the remaining loss by assessment against the other qualified public depositories. Such assessment shall be determined by multiplying the total amount of the loss to all public depositors by a percentage which represents the average share of public fund deposits held by that depository during the previous twelve (12) months divided by the average total public deposits held by all depositories during the same twelve-month period, excluding the public deposits of the defaulting depository;   Each qualified public depository shall pay its assessment to the state treasurer within five (5) business days after it receives notice of the assessment. If a depository fails to pay its assessment when due, the state treasurer shall satisfy the assessment by selling securities pledged by that depository; and   Public depositors receiving payment under this section shall assign to the state treasurer any interest they may have in funds that may subsequently be made available to the qualified public depository in default. If the qualified public depository in default or its receiver provides the funds to the state treasurer, the state treasurer shall distribute the funds, plus all accrued interest which has accumulated from the investment of the funds, if any, to the depositories which paid assessments on the same pro rata basis as the assessments were paid.
TN Code § 9-4-513 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 4 - State Funds, State Budget and Appropriations|Part 5 - Collateral Pool for Public Deposits Act of 1990|§ 9-4-513. Notice to Claimants

  Within thirty (30) days after the date of default or insolvency of a qualified public depository, the state treasurer shall publish or cause to be published notice of such default or insolvency once a week for two (2) consecutive weeks in a newspaper of general circulation in each grand division and in the Tennessee Administrative Register. The notice shall direct all public depositors who sustained a loss occasioned by the default or insolvency that was not satisfied pursuant to § 9-4-512 to file their claims with the state treasurer within ninety (90) days after the date of the first publication of the notice.   No claim made pursuant to subsection (a) shall be binding on the pool or the qualified public depositories unless presented within ninety (90) days after the date of the first publication of the notice. Further, no such claim shall be binding on the pool or the qualified public depositories if the loss was occasioned by the public depositor's failure to comply with the requirements of § 9-4-519(a)(1). This subsection (b) does not affect any proceeding to:  Enforce any real property mortgage, chattel mortgage, security interest, or other lien on property of a qualified public depository that is in default or insolvency; or   Establish liability of a qualified public depository that is in default or insolvency to the limits of any federal or other casualty insurance protection.