reglab/statecodes huggingface dataset:
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 7 - TENNESSEE UNIFORM TRANSFERS TO MINORS ACT (§§ 35-7-101 — 35-7-126) › Section 35-7-117 - Exemption of third person from liability

A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining:
(1)
The validity of the purported custodian's designation;
(2)
The propriety of, or the authority under this chapter for, any act of the purported custodian;
(3)
The validity or propriety under this chapter of any instrument or instructions executed or given either by the person purporting to make a transfer or by the purported custodian; or
(4)
The propriety of the application of any property of the minor delivered to the purported custodian.
Acts 1992, ch. 664, § 1; T.C.A. § 35-7-217.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 7 - TENNESSEE UNIFORM TRANSFERS TO MINORS ACT (§§ 35-7-101 — 35-7-126) › Section 35-7-118 - Liability to third persons

(a)
A claim based on:
(1)
A contract entered into by a custodian acting in a custodial capacity;
(2)
An obligation arising from the ownership or control of custodial property; or
(3)
A tort committed during the custodianship;
may be asserted against the custodial property by proceeding against the custodian in the custodial capacity, whether or not the custodian or the minor is personally liable therefor.
(b)
A custodian is not personally liable:
(1)
On a contract properly entered into in the custodial capacity unless the custodian fails to reveal that capacity and to identify the custodianship in the contract; or
(2)
For an obligation arising from control of custodial property or for a tort committed during the custodianship unless the custodian is personally at fault.
(c)
A minor is not personally liable for an obligation arising from ownership of custodial property or for a tort committed during the custodianship unless the minor is personally at fault.
Acts 1992, ch. 664, § 1; T.C.A. § 35-7-218.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 7 - TENNESSEE UNIFORM TRANSFERS TO MINORS ACT (§§ 35-7-101 — 35-7-126) › Section 35-7-120 - Accounting by and determination of liability of custodian

(a)
A minor who has attained fourteen (14) years of age, the minor's guardian or conservator of the person or legal representative, an adult member of the minor's family, a transferor, or a transferor's legal representative may petition the court:
(1)
For an accounting by the custodian or the custodian's legal representative; or
(2)
For a determination of responsibility, as between the custodial property and the custodian personally, for claims against the custodial property unless the responsibility has been adjudicated in an action under §
35-7-118
, to which the minor or the minor's legal representative was a party.
(b)
A successor custodian may petition the court for an accounting by the predecessor custodian.
(c)
The court, in a proceeding under this chapter or in any other proceeding, may require or permit the custodian or the custodian's legal representative to account.
(d)
If a custodian is removed under §
35-7-119(f)
, the court shall require an accounting and order delivery of the custodial property and records to the successor custodian and the execution of all instruments required for transfer of the custodial property.
Acts 1992, ch. 664, § 1; T.C.A. § 35-7-220.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 7 - TENNESSEE UNIFORM TRANSFERS TO MINORS ACT (§§ 35-7-101 — 35-7-126) › Section 35-7-121 - Termination of custodianship

(a)
The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the earlier of:
(1)
The minor's attainment of twenty-one (21) years of age; provided, that this transfer can be withheld until the minor's attainment of up to twenty-five (25) years of age if the instrument so provides, and if the gift is an inter vivos gift, the instrument further expressly states that deferring termination of custodianship beyond the minor's attainment of twenty-one (21) years of age will cause the transfer to be a gift of a future interest which may have adverse federal and state gift tax consequences; or
(2)
The minor's death.
(b)
At any time a custodian may transfer part or all of the custodial property to a qualified minor's trust without court order. The transfer terminates the custodianship to the extent of the transfer.
Acts 1992, ch. 664, § 1; 1995, ch. 513, § 1; 1999, ch. 491, § 8; T.C.A. §35-7-221; Acts 2007 , ch. 8, § 12.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 7 - TENNESSEE UNIFORM TRANSFERS TO MINORS ACT (§§ 35-7-101 — 35-7-126) › Section 35-7-122 - Applicability

This chapter also applies to a transfer made on or after October 1, 1992, if:
(1)
The transfer purports to have been made under the Tennessee Uniform Gifts to Minors Act; or
(2)
The instrument by which the transfer purports to have been made uses in substance the designation "as custodian under the Uniform Gifts to Minors Act" or "as custodian under the Uniform Transfers to Minors Act" of any other state, and the application of this chapter is necessary to validate the transfer.
Acts 1992, ch. 664, § 1; T.C.A. § 35-7-222.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 7 - TENNESSEE UNIFORM TRANSFERS TO MINORS ACT (§§ 35-7-101 — 35-7-126) › Section 35-7-123 - Effect on existing custodianships

(a)
Any transfer of custodial property as now defined in this chapter, including transfers of real property, made before October 1, 1992, is validated, notwithstanding that there was no specific authority in the Tennessee Uniform Gifts to Minors Act for the coverage of custodial property of that kind or for a transfer from that source at the time the transfer was made.
(b)
This chapter applies to all transfers made before October 1, 1992, in a manner and form prescribed in the Tennessee Uniform Gifts to Minors Act, except insofar as the application impairs constitutionally vested rights or extends the duration of custodianships beyond eighteen (18) years of age of the minor which were in existence on October 1, 1992.
Acts 1992, ch. 664, § 1; T.C.A. § 35-7-223.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 7 - TENNESSEE UNIFORM TRANSFERS TO MINORS ACT (§§ 35-7-101 — 35-7-126) › Section 35-7-124 - Uniformity of application and construction

This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it.
Acts 1992, ch. 664, § 1; T.C.A. § 35-7-224.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 7 - TENNESSEE UNIFORM TRANSFERS TO MINORS ACT (§§ 35-7-101 — 35-7-126) › Section 35-7-125 - Repeals prior act

The Tennessee Uniform Gifts to Minors Act, formerly compiled in this chapter, is repealed. To the extent that this chapter, by virtue of §
35-7-123
, does not apply to transfers made in a manner prescribed in the Tennessee Uniform Gifts to Minors Act or to the powers, duties and immunities conferred by transfers in that manner upon custodians and persons dealing with custodians, the repeal of the Tennessee Uniform Gifts to Minors Act does not affect those transfers or those powers, duties and immunities.
Acts 1992, ch. 664, § 1; T.C.A. § 35-7-225.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 7 - TENNESSEE UNIFORM TRANSFERS TO MINORS ACT (§§ 35-7-101 — 35-7-126) › Section 35-7-126 - Severability

If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter that can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable.
Acts 1992, ch. 664, § 1; T.C.A. § 35-7-226.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 8 - REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS ACT (§§ 35-8-101 — 35-8-118) › Section 35-8-101 - Short title

This chapter shall be known and may be cited as the "Revised Uniform Fiduciary Access to Digital Assets Act."
Added by 2016 Tenn. Acts, ch. 570,s 2, eff. 7/1/2016.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 8 - REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS ACT (§§ 35-8-101 — 35-8-118) › Section 35-8-103 - Applicability of chapter

(a)
This chapter applies to:
(1)
A fiduciary or agent acting under a will or power of attorney executed before, on, or after July 1, 2016;
(2)
A personal representative acting for a decedent who died before, on, or after July 1, 2016;
(3)
A conservatorship or guardianship proceeding, whether pending in a court or commenced before, on, or after July 1, 2016; and
(4)
A trustee acting under a trust created before, on, or after July 1, 2016.
(b)
This chapter applies to a custodian if the user resides in this state or resided in this state at the time of the user's death.
(c)
This chapter does not apply to a digital asset of an employer used by an employee in the ordinary course of the employer's business.
Added by 2016 Tenn. Acts, ch. 570,s 4, eff. 7/1/2016.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 8 - REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS ACT (§§ 35-8-101 — 35-8-118) › Section 35-8-104 - User direction for disclosure of digital assets

(a)
A user may use an online tool to direct the custodian to disclose to a designated recipient or not to disclose some or all of the user's digital assets, including the content of electronic communications. If the online tool allows the user to modify or delete a direction at all times, a direction regarding disclosure using an online tool overrides a contrary direction by the user in a will, trust, power of attorney, or other dispositive or nominative instrument.
(b)
If a user has not used an online tool to give direction under subsection (a) or if the custodian has not provided an online tool, the user may allow or prohibit in a will, trust, power of attorney, or other dispositive or nominative instrument, disclosure to a fiduciary of some or all of the user's digital assets, including the content of electronic communications sent or received by the user.
(c)
A user's direction under subsection (a) or (b) overrides a contrary provision in a terms-of-service agreement that does not require the user to act affirmatively and distinctly from the user's assent to the terms of service.
Added by 2016 Tenn. Acts, ch. 570,s 5, eff. 7/1/2016.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 8 - REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS ACT (§§ 35-8-101 — 35-8-118) › Section 35-8-105 - Rights of custodian or user

(a)
This chapter does not change or impair a right of a custodian or a user under a terms-of-service agreement to access and use digital assets of the user.
(b)
This chapter does not give a fiduciary or designated recipient any new or expanded rights other than those held by the user for whom, or for whose estate, the fiduciary or designated recipient acts or represents.
(c)
A fiduciary's or designated recipient's access to digital assets may be modified or eliminated by a user, by federal law, or by a terms-of-service agreement if the user has not provided direction under §
35-8-104
.
Added by 2016 Tenn. Acts, ch. 570,s 6, eff. 7/1/2016.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 8 - REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS ACT (§§ 35-8-101 — 35-8-118) › Section 35-8-106 - Disclosure of digital assets - Powers of custodian - Administrative fee

(a)
When disclosing digital assets of a user under this chapter, the custodian may at its sole discretion:
(1)
Grant a fiduciary or designated recipient full access to the user's account;
(2)
Grant a fiduciary or designated recipient partial access to the user's account sufficient to perform the tasks with which the fiduciary or designated recipient is charged; or
(3)
Provide a fiduciary or designated recipient a copy in a record of any digital asset that, on the date the custodian received the request for disclosure, the user could have accessed if the user were alive and had full capacity and access to the account.
(b)
A custodian may assess a reasonable administrative charge for the cost of disclosing digital assets under this chapter.
(c)
A custodian need not disclose under this chapter a digital asset deleted by a user.
(d)
If a user directs or a fiduciary requests a custodian to disclose under this chapter some, but not all, of the user's digital assets, the custodian need not disclose the assets if segregation of the assets would impose an undue burden on the custodian. If the custodian believes the direction or request imposes an undue burden, the custodian or fiduciary may seek an order from the court to disclose:
(1)
A subset limited by date of the user's digital assets;
(2)
All of the user's digital assets to the fiduciary or designated recipient;
(3)
None of the user's digital assets; or
(4)
All of the user's digital assets to the court for review in camera.
Added by 2016 Tenn. Acts, ch. 570, s 7, eff. 7/1/2016.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 8 - REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS ACT (§§ 35-8-101 — 35-8-118) › Section 35-8-107 - Disclosure of content of electronic communications of deceased user

If a deceased user consented or a court directs disclosure of the contents of electronic communications of the user, the custodian shall disclose to the personal representative of the estate of the user the content of an electronic communication sent or received by the user if the representative gives the custodian:
(1)
A written request for disclosure in physical or electronic form;
(2)
A certified copy of the death certificate of the user;
(3)
A certified copy of any of the following: the letters of administration or letters testamentary appointing the personal representative; a small-estate affidavit under title 30, chapter 4; or a court order;
(4)
Unless the user provided direction using an online tool, a copy of the user's will, trust, power of attorney, or other dispositive or nominative instrument evidencing the user's consent to disclosure of the content of electronic communications; and
(5)
If requested by the custodian:
(A)
A number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the user's account;
(B)
Evidence linking the account to the user; or
(C)
A finding by the court that:
(i)
The user had a specific account with the custodian, identifiable by the information specified in subdivision (5)(A);
(ii)
Disclosure of the content of electronic communications of the user would not violate
18 U.S.C. §§ 2701
et seq.,
47 U.S.C. § 222
, or other applicable law;
(iii)
Unless the user provided direction using an online tool, the user consented to disclosure of the content of electronic communications; or
(iv)
Disclosure of the content of electronic communications of the user is reasonably necessary for administration of the estate.
Added by 2016 Tenn. Acts, ch. 570,s 8, eff. 7/1/2016.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 8 - REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS ACT (§§ 35-8-101 — 35-8-118) › Section 35-8-108 - Disclosure of other digital assets of deceased user

Unless the user prohibited disclosure of digital assets or the court directs otherwise, a custodian shall disclose to the personal representative of the estate of a deceased user a catalogue of electronic communications sent or received by the user and digital assets, other than the content of electronic communications, of the user, if the representative gives the custodian:
(1)
A written request for disclosure in physical or electronic form;
(2)
A certified copy of the death certificate of the user;
(3)
A certified copy of any of the following: the letters of administration or letters testamentary appointing the personal representative; a small-estate affidavit under title 30, chapter 4; or a court order; and
(4)
If requested by the custodian:
(A)
A number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the user's account;
(B)
Evidence linking the account to the user;
(C)
An affidavit stating that disclosure of the user's digital assets is reasonably necessary for administration of the estate; or
(D)
A finding by the court that:
(i)
The user had a specific account with the custodian, identifiable by the information specified in subdivision (4)(A); or
(ii)
Disclosure of the user's digital assets is reasonably necessary for administration of the estate.
Added by 2016 Tenn. Acts, ch. 570,s 9, eff. 7/1/2016.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 8 - REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS ACT (§§ 35-8-101 — 35-8-118) › Section 35-8-109 - Disclosure of content of electronic communications to principal

To the extent a power of attorney expressly grants an agent authority over the content of electronic communications sent or received by the principal and unless directed otherwise by the principal or the court, a custodian shall disclose to the agent the content if the agent gives the custodian:
(1)
A written request for disclosure in physical or electronic form;
(2)
An original or a copy of the power of attorney expressly granting the agent authority over the content of electronic communications of the principal;
(3)
A certification by the agent, under penalty of perjury, that the power of attorney is in effect; and
(4)
If requested by the custodian:
(A)
A number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the principal's account; or
(B)
Evidence linking the account to the principal.
Added by 2016 Tenn. Acts, ch. 570,s 10, eff. 7/1/2016.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 8 - REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS ACT (§§ 35-8-101 — 35-8-118) › Section 35-8-110 - Disclosure of other digital assets of principal

Unless otherwise ordered by the court, directed by the principal, or provided by a power of attorney, a custodian shall disclose to an agent with specific authority over digital assets or general authority to act on behalf of a principal a catalogue of electronic communications sent or received by the principal and digital assets, other than the content of electronic communications, of the principal if the agent gives the custodian:
(1)
A written request for disclosure in physical or electronic form;
(2)
An original or a copy of the power of attorney that gives the agent specific authority over digital assets or general authority to act on behalf of the principal;
(3)
A certification by the agent, under penalty of perjury, that the power of attorney is in effect; and
(4)
If requested by the custodian:
(A)
A number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the principal's account; or
(B)
Evidence linking the account to the principal.
Added by 2016 Tenn. Acts, ch. 570,s 11, eff. 7/1/2016.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 8 - REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS ACT (§§ 35-8-101 — 35-8-118) › Section 35-8-111 - Disclosure of digital assets held in trust when trustee is original user

Unless otherwise ordered by the court or provided in a trust, a custodian shall disclose to a trustee that is an original user of an account any digital asset of the account held in trust, including a catalogue of electronic communications of the trustee and the content of electronic communications.
Added by 2016 Tenn. Acts, ch. 570,s 12, eff. 7/1/2016.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 8 - REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS ACT (§§ 35-8-101 — 35-8-118) › Section 35-8-112 - Disclosure of digital assets held in trust when trustee is not original user

Unless otherwise ordered by the court, directed by the user, or provided in a trust, a custodian shall disclose to a trustee that is not an original user of an account the content of an electronic communication sent or received by an original or successor user and carried, maintained, processed, received, or stored by the custodian in the account of the trust if the trustee gives the custodian:
(1)
A written request for disclosure in physical or electronic form;
(2)
A certified copy of the trust instrument or a certification of the trust under §
35-15-1013
, that includes consent to disclosure of the content of electronic communications to the trustee;
(3)
A certification by the trustee, under penalty of perjury, that the trust exists and the trustee is a currently acting trustee of the trust; and
(4)
If requested by the custodian:
(A)
A number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the trust's account; or
(B)
Evidence linking the account to the trust.
Added by 2016 Tenn. Acts, ch. 570,s 13, eff. 7/1/2016.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 8 - REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS ACT (§§ 35-8-101 — 35-8-118) › Section 35-8-113 - Disclosure of other digital assets held in trust when trustee is original user

Unless otherwise ordered by the court, directed by the user, or provided in a trust, a custodian shall disclose, to a trustee that is not an original user of an account, a catalogue of electronic communications sent or received by an original or successor user and stored, carried, or maintained by the custodian in an account of the trust and any digital assets, other than the content of electronic communications, in which the trust has a right or interest if the trustee gives the custodian:
(1)
A written request for disclosure in physical or electronic form;
(2)
A certified copy of the trust instrument or a certification of the trust under §
35-15-1013
;
(3)
A certification by the trustee, under penalty of perjury, that the trust exists and the trustee is a currently acting trustee of the trust; and
(4)
If requested by the custodian:
(A)
A number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the trust's account; or
(B)
Evidence linking the account to the trust.
Added by 2016 Tenn. Acts, ch. 570,s 14, eff. 7/1/2016.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 8 - REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS ACT (§§ 35-8-101 — 35-8-118) › Section 35-8-114 - Disclosure of other digital assets held in trust when trustee is not original user

(a)
After an opportunity for a hearing under title 34, chapter 1, the court may grant a guardian or conservator access to the digital assets of a minor or person with a disability.
(b)
Unless otherwise ordered by the court or directed by the user, a custodian shall disclose to a guardian or conservator the catalogue of electronic communications sent or received by a minor or person with a disability and any digital assets, other than the content of electronic communications, in which the minor or person with a disability has a right or interest if the guardian or conservator gives the custodian:
(1)
A written request for disclosure in physical or electronic form;
(2)
A certified copy of the court order that gives the guardian or conservator authority over the digital assets of the minor or person with a disability; and
(3)
If requested by the custodian:
(A)
A number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the account of the minor or person with a disability; or
(B)
Evidence linking the account to the minor or person with a disability.
(c)
A guardian or conservator with general authority to manage the assets of a minor or person with a disability may request a custodian of the digital assets of the minor or person with a disability to suspend or terminate an account of the minor or person with a disability for good cause. A request made under this section must be accompanied by a certified copy of the court order giving the guardian or conservator authority over the property of the minor or person with a disability.
Added by 2016 Tenn. Acts, ch. 570,s 15, eff. 7/1/2016.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 8 - REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS ACT (§§ 35-8-101 — 35-8-118) › Section 35-8-116 - Fiduciary duty

(a)
Not later than sixty (60) days after receipt of the information required under §§
35-8-107
- 35-8-115, a custodian shall comply with a request under this chapter from a fiduciary or designated recipient to disclose digital assets or terminate an account. If the custodian fails to comply, the fiduciary or designated recipient may apply to the court for an order directing compliance.
(b)
An order under subsection (a) directing compliance must contain a finding that compliance is not in violation of
18 U.S.C. § 2702
.
(c)
A custodian may notify the user that a request for disclosure or to terminate an account was made under this chapter.
(d)
A custodian may deny a request under this chapter from a fiduciary or designated recipient for disclosure of digital assets or to terminate an account if the custodian is aware of any lawful access to the account following the receipt of the fiduciary's request.
(e)
This chapter does not limit a custodian's ability to obtain or require a fiduciary or designated recipient requesting disclosure or termination under this chapter to obtain a court order which:
(1)
Specifies that an account belongs to the minor, person with a disability, principal, or settlor;
(2)
Specifies that there is sufficient consent from the minor, person with a disability, principal, or settlor to support the requested disclosure; and
(3)
Contains a finding required by law other than this chapter.
(f)
A custodian and the custodian's officers, employees, and agents are immune from liability for an act or omission done in good faith in compliance with this chapter.
Added by 2016 Tenn. Acts, ch. 570,s 17, eff. 7/1/2016.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 8 - REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS ACT (§§ 35-8-101 — 35-8-118) › Section 35-8-117 - Uniformity of application and construction

In applying and construing this chapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
Added by 2016 Tenn. Acts, ch. 570,s 18, eff. 7/1/2016.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 8 - REVISED UNIFORM FIDUCIARY ACCESS TO DIGITAL ASSETS ACT (§§ 35-8-101 — 35-8-118) › Section 35-8-118 - Electronic signatures - Global and National Commerce Act

This chapter modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act (
15 U.S.C. §§ 7001
et seq.), but does not modify, limit, or supersede Section 101(c), Electronic Signatures in Global and National Commerce Act (
15 U.S.C. § 7001(c)
), or authorize electronic delivery of any of the notices described in Section 103(b), Electronic Signatures in Global and National Commerce Act (
15 U.S.C. § 7003(b)
).
Added by 2016 Tenn. Acts, ch. 570,s 19, eff. 7/1/2016.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 9 - ADMINISTRATION OF PRIVATE FOUNDATIONS, CHARITABLE TRUSTS OR SPLIT-INTEREST TRUSTS (§§ 35-9-101 — 35-9-108) › Section 35-9-101 - Prohibited acts

In the administration of any trust that is a "private foundation," as defined in § 509 of the Internal Revenue Code of 1954 (
26 U.S.C. § 509
), a "charitable trust," as defined in § 4947(a)(1) of the Internal Revenue Code of 1954 (
26 U.S.C. § 4947(a)(1)
), or a "split-interest trust," as defined in § 4947(a)(2) of the Internal Revenue Code of 1954 (
26 U.S.C. § 4947(a)(2)
), the following acts are prohibited:
(1)
Engaging in any act of self-dealing, as defined in § 4941(d) of the Internal Revenue Code of 1954 (
26 U.S.C. § 4941(d)
), that would give rise to any liability for the tax imposed by § 4941(a) of the Internal Revenue Code of 1954 (
26 U.S.C. § 4941(a)
);
(2)
Retaining any excess business holdings (as defined in § 4943(c) of the Internal Revenue Code of 1954
26 U.S.C. § 4943(c)
), that would give rise to any liability for the tax imposed by § 4943(a) of the Internal Revenue Code of 1954 (
26 U.S.C. § 4943(a)
);
(3)
Making any investments that would jeopardize the carrying out of any of the exempt purposes of the trust, within the meaning of § 4944 of the Internal Revenue Code of 1954 (
26 U.S.C. § 4944
), so as to give rise to any liability for the tax imposed by § 4944(a) of the Internal Revenue Code of 1954 (
26 U.S.C. § 4944(a)
); or
(4)
Making any taxable expenditures (as defined in § 4945(d) of the Internal Revenue Code of 1954 (
26 U.S.C. § 4945(d)
), that would give rise to any liability for the tax imposed by § 4945(a) of the Internal Revenue Code of 1954 (
26 U.S.C. § 4945(a)
); provided, that this section does not apply either to those split-interest trusts or to amounts of those split-interest trusts that are not subject to the prohibitions applicable to private foundations by reason of § 4947 of the Internal Revenue Code of 1954 (
26 U.S.C. § 4947
).
Acts 1971, ch. 3, § 1; T.C.A., § 35-1001.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 9 - ADMINISTRATION OF PRIVATE FOUNDATIONS, CHARITABLE TRUSTS OR SPLIT-INTEREST TRUSTS (§§ 35-9-101 — 35-9-108) › Section 35-9-102 - Distribution of amounts to avoid tax liability

In the administration of any trust that is a private foundation or that is a charitable trust, there shall be distributed, for the purposes specified in the trust instrument, for each taxable year, amounts at least sufficient to avoid liability for the tax imposed by § 4942(a) of the Internal Revenue Code of 1954 (
26 U.S.C. § 4942(a)
).
Acts 1971, ch. 3, § 2; T.C.A., § 35-1002.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 9 - ADMINISTRATION OF PRIVATE FOUNDATIONS, CHARITABLE TRUSTS OR SPLIT-INTEREST TRUSTS (§§ 35-9-101 — 35-9-108) › Section 35-9-103 - Applicability of Sections 35-9-101 and 35-9-102

Sections
35-9-101
and
35-9-102
do not apply to any trust to the extent that a court of competent jurisdiction determines that the application would be contrary to the terms of the instrument governing the trust and that the same may not properly be changed to conform to those sections.
Acts 1971, ch. 3, § 3; T.C.A., § 35-1003.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 9 - ADMINISTRATION OF PRIVATE FOUNDATIONS, CHARITABLE TRUSTS OR SPLIT-INTEREST TRUSTS (§§ 35-9-101 — 35-9-108) › Section 35-9-104 - Powers of courts and attorney general and reporter unimpaired

Nothing in this chapter shall impair the rights and powers of the courts or the attorney general and reporter of this state with respect to any trust.
Acts 1971, ch. 3, § 4; T.C.A., § 35-1004.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 9 - ADMINISTRATION OF PRIVATE FOUNDATIONS, CHARITABLE TRUSTS OR SPLIT-INTEREST TRUSTS (§§ 35-9-101 — 35-9-108) › Section 35-9-105 - References to Internal Revenue Code

All references to sections of the Internal Revenue Code of 1954 (U.S.C. title 26), include future amendments to those sections and corresponding provisions of future internal revenue laws.
Acts 1971, ch. 3, § 5; T.C.A., § 35-1005.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 9 - ADMINISTRATION OF PRIVATE FOUNDATIONS, CHARITABLE TRUSTS OR SPLIT-INTEREST TRUSTS (§§ 35-9-101 — 35-9-108) › Section 35-9-108 - Information or actions that cannot be required

(a)
For the purposes of this section, "private foundation" has the same meaning ascribed to "private foundation" in § 509(a) of the Internal Revenue Code of 1986 (
26 U.S.C. § 509(a)
), as amended.
(b)
No private foundation shall be required by a department, agency, board, or other entity of state or local government to:
(1)
Disclose the race, religion, gender, national origin, socioeconomic status, age, ethnicity, disability, marital status, or sexual orientation of:
(A)
The foundation's employees, officers, directors, trustees, or contributors, without the prior written consent of the individual or individuals in question; or
(B)
Any individual, or of the employees, officers, directors, trustees, members, or owners of any entity, that has received monetary or in-kind contributions or grants from, or contracted with, the foundation, without the prior written consent of the individual or individuals in question;
(2)
Hire, appoint, or elect an individual of any particular race, religion, gender, national origin, socioeconomic status, age, ethnicity, disability, marital status, or sexual orientation as an employee, officer, director, or trustee of the foundation;
(3)
Disqualify, remove, or prohibit service of an individual as an officer, director, or trustee of the foundation based upon such individual's familial relationship to other officers, directors, or trustees of the foundation or a contributor to the foundation;
(4)
Hire, appoint, or elect an individual as an officer, director, or trustee of the foundation who does not share a familial relationship with the other officers, directors, or trustees of the foundation or with a contributor to the foundation; or
(5)
Except as a lawful condition or requirement on the expenditure of particular funds imposed by the contributor or grantor of such funds, distribute the foundation's funds to, or contract with, any individual or entity based upon the:
(A)
Race, religion, gender, national origin, socioeconomic status, age, ethnicity, disability, marital status, or sexual orientation of the individual or of the employees, officers, directors, trustees, members, or owners of the entity; or
(B)
Populations, locales, or communities served by the individual or entity.
Added by 2013 Tenn. Acts, ch. 193,s 1, eff. 4/23/2013.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 10 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT (§§ 35-10-101 — 35-10-110) › Part 1 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT OF 1973 [Repealed] (§§ 35-10-101 — 35-10-110) › Section 35-10-101 - Short title

This chapter shall be known and may be cited as the "Uniform Prudent Management of Institutional Funds Act."
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 10 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT (§§ 35-10-101 — 35-10-110) › Part 1 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT OF 1973 [Repealed] (§§ 35-10-101 — 35-10-110) › Section 35-10-102 - Chapter definitions

As used in this chapter, unless the context otherwise requires:
(1)
"Charitable purpose" means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose the achievement of which is beneficial to the community;
(2)
"Endowment fund" means an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. The term does not include assets that an institution designates as an endowment fund for its own use;
(3)
"Gift instrument" means a record or records, including an institutional solicitation, under which property is granted to, transferred to, or held by an institution as an institutional fund;
(4)
"Institution" means:
(A)
A person, other than an individual, organized and operated exclusively for charitable purposes;
(B)
A government or governmental subdivision, agency, or instrumentality, to the extent that it holds funds exclusively for a charitable purpose; and
(C)
A trust that had both charitable and noncharitable interests, after all noncharitable interests have terminated;
(5)
"Institutional fund" means a fund held by an institution exclusively for charitable purposes. "Institutional fund" does not include:
(A)
Program-related assets;
(B)
A fund held for an institution by a trustee that is not an institution; or
(C)
A fund in which a beneficiary that is not an institution has an interest, other than an interest that could arise upon violation or failure of the purposes of the fund;
(6)
"Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity;
(7)
"Program-related asset" means an asset held by an institution primarily to accomplish a charitable purpose of the institution and not primarily for investment; and
(8)
"Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 10 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT (§§ 35-10-101 — 35-10-110) › Part 1 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT OF 1973 [Repealed] (§§ 35-10-101 — 35-10-110) › Section 35-10-104 - Appropriation for expenditure or accumulation of endowment fund - Rules of construction

(a)
Subject to the intent of a donor expressed in the gift instrument and to subsection (d), an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes, and duration for which the endowment fund is established. Unless stated otherwise in the gift instrument, the assets in an endowment fund are donor-restricted assets until appropriated for expenditure by the institution. In making a determination to appropriate or accumulate, the institution shall act in good faith, with the care that an ordinarily prudent person in a like position would exercise under similar circumstances, and shall consider, if relevant, the following factors:
(1)
The duration and preservation of the endowment fund;
(2)
The purposes of the institution and the endowment fund;
(3)
General economic conditions;
(4)
The possible effect of inflation or deflation;
(5)
The expected total return from income and the appreciation of investments;
(6)
Other resources of the institution; and
(7)
The investment policy of the institution.
(b)
To limit the authority to appropriate for expenditure or accumulate under subsection (a), a gift instrument must specifically state the limitation.
(c)
Terms in a gift instrument designating a gift as an endowment, or a direction or authorization in the gift instrument to use only "income", "interest", "dividends", or "rents, issues, or profits", or "to preserve the principal intact", or words of similar import:
(1)
Create an endowment fund of permanent duration unless other language in the gift instrument limits the duration or purpose of the fund; and
(2)
Do not otherwise limit the authority to appropriate for expenditure or accumulate under subsection (a).
(d)
(1)
The appropriation for expenditure in any year of an amount greater than seven percent (7%) of the fair market value of an endowment fund, calculated on the basis of market values determined at least quarterly and averaged over a period of not less than three (3) years immediately preceding the year in which the appropriation for expenditure was made, creates a rebuttable presumption of imprudence.
(2)
For an endowment fund in existence for fewer than three (3) years, the fair market value of the endowment fund must be calculated for the period the endowment fund has been in existence.
(3)
This subsection (d) does not:
(A)
Apply to an appropriation for expenditure permitted under law other than this chapter or by the gift instrument; or
(B)
Create a presumption of prudence for an appropriation for expenditure of an amount less than or equal to seven percent (7%) of the fair market value of the endowment fund.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 10 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT (§§ 35-10-101 — 35-10-110) › Part 1 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT OF 1973 [Repealed] (§§ 35-10-101 — 35-10-110) › Section 35-10-105 - Delegation of management and investment functions

(a)
Subject to any specific limitation set forth in a gift instrument or in law other than this chapter, an institution may delegate to an external agent the management and investment of an institutional fund to the extent that an institution could prudently delegate under the circumstances. An institution shall act in good faith, with the care that an ordinarily prudent person in a like position would exercise under similar circumstances, in:
(1)
Selecting an agent;
(2)
Establishing the scope and terms of the delegation, consistent with the purposes of the institution and the institutional fund; and
(3)
Periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the scope and terms of the delegation.
(b)
In performing a delegated function, an agent owes a duty to the institution to exercise reasonable care to comply with the scope and terms of the delegation.
(c)
An institution that complies with subsection (a) is not liable for the decisions or actions of an agent to which the function was delegated.
(d)
By accepting delegation of a management or investment function from an institution that is subject to the laws of this state, an agent submits to the jurisdiction of the courts of this state in all proceedings arising from or related to the delegation or the performance of the delegated function.
(e)
An institution may delegate management and investment functions to its committees, officers, or employees as authorized by law of this state other than this chapter.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 10 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT (§§ 35-10-101 — 35-10-110) › Part 1 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT OF 1973 [Repealed] (§§ 35-10-101 — 35-10-110) › Section 35-10-106 - Release or modification of restrictions on management, investment, or purpose

(a)
If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund. A release or modification may not allow a fund to be used for a purpose other than a charitable purpose of the institution.
(b)
The court, upon application of an institution, may modify a restriction contained in a gift instrument regarding the management or investment of an institutional fund if the restriction has become impracticable or wasteful, if it impairs the management or investment of the fund, or if, because of circumstances not anticipated by the donor, a modification of a restriction will further the purposes of the fund. The institution shall notify the attorney general and reporter of the application, and the attorney general and reporter must be given an opportunity to be heard. To the extent practicable, any modification must be made in accordance with the donor's probable intention.
(c)
If a particular charitable purpose or a restriction contained in a gift instrument on the use of an institutional fund becomes unlawful, impracticable, impossible to achieve, or wasteful, the court, upon application of an institution, may modify the purpose of the fund or the restriction on the use of the fund in a manner consistent with the charitable purposes expressed in the gift instrument. The institution shall notify the attorney general and reporter of the application, and the attorney general and reporter must be given an opportunity to be heard.
(d)
If an institution determines that a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund is unlawful, impracticable, impossible to achieve, or wasteful, the institution, sixty (60) days after notification to the attorney general and reporter, may release or modify the restriction, in whole or part, if:
(1)
The institutional fund subject to the restriction has a total value of less than one hundred fifty thousand dollars ($150,000). This dollar limit shall increase by an amount of five thousand dollars ($5,000) on July 1, 2011, and on each July 1 in subsequent years;
(2)
More than twenty (20) years have elapsed since the fund was established; and
(3)
The institution uses the property in a manner consistent with the charitable purposes expressed in the gift instrument.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 10 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT (§§ 35-10-101 — 35-10-110) › Part 1 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT OF 1973 [Repealed] (§§ 35-10-101 — 35-10-110) › Section 35-10-107 - Reviewing compliance

Compliance with this chapter is determined in light of the facts and circumstances existing at the time a decision is made or action is taken, and not by hindsight.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 10 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT (§§ 35-10-101 — 35-10-110) › Part 1 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT OF 1973 [Repealed] (§§ 35-10-101 — 35-10-110) › Section 35-10-108 - Application to existing institutional funds

This chapter applies to institutional funds existing on or established after July 1, 2007. As applied to institutional funds existing on July 1, 2007, this chapter governs only decisions made or actions taken on or after July 1, 2007.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 10 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT (§§ 35-10-101 — 35-10-110) › Part 1 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT OF 1973 [Repealed] (§§ 35-10-101 — 35-10-110) › Section 35-10-109 - Relation to Electronic Signatures in Global and National Commerce Act

This chapter modifies, limits, and supersedes the Electronic Signatures in Global and National Commerce Act (
15 U.S.C. § 7001
et seq.), but does not modify, limit, or supersede § 101 of that act (
15 U.S.C. § 7001(a)
), or authorize electronic delivery of any of the notices described in § 103 of that act (
15 U.S.C. § 7003(b)
).
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 10 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT (§§ 35-10-101 — 35-10-110) › Part 1 - UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACT OF 1973 [Repealed] (§§ 35-10-101 — 35-10-110) › Section 35-10-110 - Uniformity of application and construction

In applying and construing the uniform act set out in this chapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
Acts 2007, ch. 186, § 10; T.C.A. §
35-10-210
.