reglab/statecodes huggingface dataset:
2023 Tennessee Code › Title 34 - GUARDIANSHIP (§§ 34-1-101 — 34-8-503) › Chapter 8 - UNIFORM ADULT GUARDIANSHIP AND PROTECTIVE PROCEEDINGS JURISDICTION ACT (§§ 34-8-101 — 34-8-503) › Part 2 - JURISDICTION (§§ 34-8-201 — 34-8-209) › Section 34-8-206 - Appropriate forum

(a)
A court of this state having jurisdiction under §
34-8-203
to appoint a conservator or guardian or issue a protective order may decline to exercise its jurisdiction if it determines at any time that a court of another state is a more appropriate forum.
(b)
If a court of this state declines to exercise its jurisdiction under subsection (a), it shall either dismiss or stay the proceeding. The court may impose any condition the court considers just and proper, including the condition that a petition for the appointment of a guardian or issuance of a protective order be filed promptly in another state.
(c)
In determining whether it is an appropriate forum, the court shall consider all relevant factors, including:
(1)
Any expressed preference of the respondent;
(2)
Whether abuse, neglect, or exploitation of the respondent has occurred or is likely to occur and which state could best protect the respondent from the abuse, neglect, or exploitation;
(3)
The length of time the respondent was physically present in or was a legal resident of this or another state;
(4)
The distance of the respondent from the court in each state;
(5)
The financial circumstances of the respondent's estate;
(6)
The nature and location of the evidence;
(7)
The ability of the court in each state to decide the issue expeditiously and the procedures necessary to present evidence;
(8)
The familiarity of the court of each state with the facts and issues in the proceeding; and
(9)
If an appointment were made, the court's ability to monitor the conduct of the guardian or conservator.
Acts 2010, ch. 817, § 1.
2023 Tennessee Code › Title 34 - GUARDIANSHIP (§§ 34-1-101 — 34-8-503) › Chapter 8 - UNIFORM ADULT GUARDIANSHIP AND PROTECTIVE PROCEEDINGS JURISDICTION ACT (§§ 34-8-101 — 34-8-503) › Part 2 - JURISDICTION (§§ 34-8-201 — 34-8-209) › Section 34-8-207 - Jurisdiction declined by reason of conduct

(a)
If at any time a court of this state determines that it acquired jurisdiction to appoint a conservator or guardian or issue a protective order because of unjustifiable conduct, the court may:
(1)
Decline to exercise jurisdiction;
(2)
Exercise jurisdiction for the limited purpose of fashioning an appropriate remedy to ensure the health, safety, and welfare of the respondent or the protection of the respondent's property or prevent a repetition of the unjustifiable conduct, including staying the proceeding until a petition for the appointment of a guardian or issuance of a protective order is filed in a court of another state having jurisdiction; or
(3)
Continue to exercise jurisdiction after considering:
(A)
The extent to which the respondent and all persons required to be notified of the proceedings have acquiesced in the exercise of the court's jurisdiction;
(B)
Whether it is a more appropriate forum than the court of any other state under the factors set forth in §
34-8-206(c)
; and
(C)
Whether the court of any other state would have jurisdiction under factual circumstances in substantial conformity with the jurisdictional standards of §
34-8-203
.
(b)
If a court of this state determines that it acquired jurisdiction to appoint a conservator or guardian or issue a protective order because a party seeking to invoke its jurisdiction engaged in unjustifiable conduct, it may assess against that party necessary and reasonable expenses, including attorney's fees, investigative fees, court costs, communication expenses, witness fees and expenses, and travel expenses. The court may not assess fees, costs, or expenses of any kind against this state or a governmental subdivision, agency, or instrumentality of this state unless authorized by law other than this chapter.
Acts 2010, ch. 817, § 1.
2023 Tennessee Code › Title 34 - GUARDIANSHIP (§§ 34-1-101 — 34-8-503) › Chapter 8 - UNIFORM ADULT GUARDIANSHIP AND PROTECTIVE PROCEEDINGS JURISDICTION ACT (§§ 34-8-101 — 34-8-503) › Part 2 - JURISDICTION (§§ 34-8-201 — 34-8-209) › Section 34-8-208 - Notice of proceeding

If a petition for the appointment of a conservator or guardian or issuance of a protective order is brought in this state and this state was not the respondent's home state on the date the petition was filed, in addition to complying with the notice requirements of this state, notice of the petition must be given to those persons who would be entitled to notice of the petition if a proceeding were brought in the respondent's home state. The notice must be given in the same manner as notice is required to be given in this state.
Acts 2010, ch. 817, § 1.
2023 Tennessee Code › Title 34 - GUARDIANSHIP (§§ 34-1-101 — 34-8-503) › Chapter 8 - UNIFORM ADULT GUARDIANSHIP AND PROTECTIVE PROCEEDINGS JURISDICTION ACT (§§ 34-8-101 — 34-8-503) › Part 2 - JURISDICTION (§§ 34-8-201 — 34-8-209) › Section 34-8-209 - Proceedings in more than one state

Except for a petition for the appointment of a conservator or guardian in an emergency or issuance of a protective order limited to property located in this state under §
34-8-204(a)(1) or (a)(2)
, if a petition for the appointment of a guardian or issuance of a protective order is filed in this state and in another state and neither petition has been dismissed or withdrawn, the following rules apply:
(1)
If the court in this state has jurisdiction under §
34-8-203
, it may proceed with the case unless a court in another state acquires jurisdiction under provisions similar to §
34-8-203
before the appointment or issuance of the order; or
(2)
If the court in this state does not have jurisdiction under §
34-8-203
, whether at the time the petition is filed or at any time before the appointment or issuance of the order, the court shall stay the proceeding and communicate with the court in the other state. If the court in the other state has jurisdiction, the court in this state shall dismiss the petition unless the court in the other state determines that the court in this state is a more appropriate forum.
Acts 2010, ch. 817, § 1.
2023 Tennessee Code › Title 34 - GUARDIANSHIP (§§ 34-1-101 — 34-8-503) › Chapter 8 - UNIFORM ADULT GUARDIANSHIP AND PROTECTIVE PROCEEDINGS JURISDICTION ACT (§§ 34-8-101 — 34-8-503) › Part 3 - TRANSFER OF GUARDIANSHIP OR CONSERVATORSHIP (§§ 34-8-NEW — 34-8-302) › Section 34-8-301 - Transfer of guardianship or conservatorship to another state

(a)
A guardian or conservator appointed in this state may petition the court to transfer the guardianship or conservatorship to another state.
(b)
Notice of a petition under subsection (a) must be given to the persons that would be entitled to notice of a petition in this state for the appointment of a guardian or conservator.
(c)
On the court's own motion or on request of the guardian or conservator, the disabled person, or other person required to be notified of the petition, the court shall hold a hearing on a petition filed pursuant to subsection (a).
(d)
The court shall issue an order provisionally granting a petition to transfer a conservatorship or guardianship and shall direct the conservator or guardian to petition for conservatorship or guardianship in the other state if the court is satisfied that the conservatorship or guardianship will be accepted by the court in the other state and the court finds that:
(1)
The disabled person or minor is physically present in or is reasonably expected to move permanently to the other state;
(2)
An objection to the transfer has not been made or, if an objection has been made, the objector has not established that the transfer would be contrary to the interests of the disabled person or minor; and
(3)
Plans for care and services for the disabled person or minor in the other state are reasonable and sufficient.
(e)
The court shall issue a final order confirming the transfer and terminating the guardianship or conservatorship upon its receipt of:
(1)
A provisional order accepting the proceeding from the court to which the proceeding is to be transferred which is issued under provisions similar to §
34-8-302
; and
(2)
The documents required to terminate a guardianship or conservatorship in this state.
Acts 2010, ch. 817, § 1.
2023 Tennessee Code › Title 34 - GUARDIANSHIP (§§ 34-1-101 — 34-8-503) › Chapter 8 - UNIFORM ADULT GUARDIANSHIP AND PROTECTIVE PROCEEDINGS JURISDICTION ACT (§§ 34-8-101 — 34-8-503) › Part 3 - TRANSFER OF GUARDIANSHIP OR CONSERVATORSHIP (§§ 34-8-NEW — 34-8-302) › Section 34-8-302 - Accepting guardianship or conservatorship transferred from another state

(a)
To confirm transfer of a guardianship or conservatorship transferred to this state under provisions similar to §
34-8-301
, the guardian or conservator must petition the court in this state to accept the guardianship or conservatorship. The petition must include a certified copy of the other state's provisional order of transfer.
(b)
Notice of a petition under subsection (a) must be given to those persons that would be entitled to notice if the petition were a petition for the appointment of a guardian or issuance of a protective order in both the transferring state and this state. The notice must be given in the same manner as notice is required to be given in this state.
(c)
On the court's own motion or on request of the guardian or conservator, the disabled or protected person or minor, or other person required to be notified of the proceeding, the court shall hold a hearing on a petition filed pursuant to subsection (a).
(d)
The court shall issue an order provisionally granting a petition filed under subsection (a) unless:
(1)
An objection is made and the objector establishes that transfer of the proceeding would be contrary to the interests of the disabled or protected person or minor; or
(2)
The guardian or conservator is ineligible for appointment in this state.
(e)
The court shall issue a final order accepting the proceeding and appointing the guardian or conservator as guardian or conservator in this state upon its receipt from the court from which the proceeding is being transferred of a final order issued under provisions similar to §
34-8-301
transferring the proceeding to this state.
(f)
Not later than ninety (90) days after issuance of a final order accepting transfer of a guardianship or conservatorship, the court shall determine whether the guardianship or conservatorship needs to be modified to conform to the law of this state.
(g)
In granting a petition under this section, the court shall recognize a guardianship or conservatorship order from the other state, including the determination of the disabled or protected person's incapacity and the appointment of the guardian or conservator.
(h)
The denial by a court of this state of a petition to accept a guardianship or conservatorship transferred from another state does not affect the ability of the guardian or conservator to seek appointment as guardian or conservator in this state under other chapters of this title if the court has jurisdiction to make an appointment other than by reason of the provisional order of transfer.
Acts 2010, ch. 817, § 1.
2023 Tennessee Code › Title 34 - GUARDIANSHIP (§§ 34-1-101 — 34-8-503) › Chapter 8 - UNIFORM ADULT GUARDIANSHIP AND PROTECTIVE PROCEEDINGS JURISDICTION ACT (§§ 34-8-101 — 34-8-503) › Part 4 - REGISTRATION AND RECOGNITION OF ORDERS FROM ANOTHER STATE (§§ 34-8-401 — 34-8-402) › Section 34-8-401 - Registration of guardianship orders

If a conservator or guardian has been appointed in another state and a petition for the appointment of a conservator or guardian is not pending in this state, the conservator or guardian appointed in the other state, after giving notice to the appointing court of an intent to register, may register the conservatorship or guardianship order in this state by filing as a foreign judgment in a court, in any appropriate county of this state, certified copies of the order and letters of office.
Acts 2010, ch. 817, § 1.
2023 Tennessee Code › Title 34 - GUARDIANSHIP (§§ 34-1-101 — 34-8-503) › Chapter 8 - UNIFORM ADULT GUARDIANSHIP AND PROTECTIVE PROCEEDINGS JURISDICTION ACT (§§ 34-8-101 — 34-8-503) › Part 4 - REGISTRATION AND RECOGNITION OF ORDERS FROM ANOTHER STATE (§§ 34-8-401 — 34-8-402) › Section 34-8-402 - Effect of registration

(a)
Upon registration of a conservatorship or guardianship or protective order from another state, the guardian or conservator may exercise in this state all powers authorized in the order of appointment except as prohibited under the laws of this state, including maintaining actions and proceedings in this state and, if the guardian or conservator is not a resident of this state, subject to any conditions imposed upon nonresident parties.
(b)
A court of this state may grant any relief available under this chapter and other law of this state to enforce a registered order.
Acts 2010, ch. 817, § 1.
2023 Tennessee Code › Title 34 - GUARDIANSHIP (§§ 34-1-101 — 34-8-503) › Chapter 8 - UNIFORM ADULT GUARDIANSHIP AND PROTECTIVE PROCEEDINGS JURISDICTION ACT (§§ 34-8-101 — 34-8-503) › Part 5 - MISCELLANEOUS PROVISIONS (§§ 34-8-501 — 34-8-503) › Section 34-8-501 - Uniformity of application and construction

In applying and construing this uniform act, 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 2010, ch. 817, § 1.
2023 Tennessee Code › Title 34 - GUARDIANSHIP (§§ 34-1-101 — 34-8-503) › Chapter 8 - UNIFORM ADULT GUARDIANSHIP AND PROTECTIVE PROCEEDINGS JURISDICTION ACT (§§ 34-8-101 — 34-8-503) › Part 5 - MISCELLANEOUS PROVISIONS (§§ 34-8-501 — 34-8-503) › Section 34-8-502 - Relation to Electronic Signatures in Global and National Commerce Act

This chapter modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act (
15 U.S.C. § 7001
et seq.), but does not modify, limit, or supersede § 101(c) of that act (
15 U.S.C. § 7001(c)
), or authorize electronic delivery of any of the notices described in § 103(b) of that act (
15 U.S.C. § 7003(b)
).
Acts 2010 , ch. 817, § 1.
2023 Tennessee Code › Title 34 - GUARDIANSHIP (§§ 34-1-101 — 34-8-503) › Chapter 8 - UNIFORM ADULT GUARDIANSHIP AND PROTECTIVE PROCEEDINGS JURISDICTION ACT (§§ 34-8-101 — 34-8-503) › Part 5 - MISCELLANEOUS PROVISIONS (§§ 34-8-501 — 34-8-503) › Section 34-8-503 - Transitional provisions

(a)
This chapter applies to guardianship and protective proceedings begun on or after January 1, 2011.
(b)
Parts 1, 3, and 4 and §§
34-8-501
and
34-8-502
apply to proceedings begun before January 1, 2011, regardless of whether a guardianship or protective order has been issued.
Acts 2010, ch. 817, § 1.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 1 - APPOINTMENT AND REMOVAL OF TRUSTEES (§§ 35-1-101 — 35-1-102) › Section 35-1-101 - Real property - Documents to be recorded - Trust property

(a)
When real estate is held as a part of the trust property, the court order accepting the resignation or ordering the removal of a trustee and appointing a successor, or an acknowledged memorandum of the order, shall be recorded in the county where any real estate is located, identifying each parcel of real estate held by the trust.
(b)
(1)
When real estate is held as part of the trust property and a trustee has resigned or been removed without order of a court, the resigning or removed trustee shall execute and record an instrument that:
(A)
Recites the resignation or removal of the trustee;
(B)
Gives the name and address of the successor trustee, if any; and
(C)
Identifies each parcel of real estate held by the trust.
(2)
A successor trustee, or a remaining trustee if there is no successor, shall execute and record the instrument described in subdivision (b)(1) if the resigning or removed trustee fails to record the required instrument within thirty (30) days after resigning or being removed.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 1 - APPOINTMENT AND REMOVAL OF TRUSTEES (§§ 35-1-101 — 35-1-102) › Section 35-1-102 - Appointment of public trustee

In addition to the other provisions for the appointment of trustees in this chapter, a public trustee may be appointed by the court pursuant to title 30, chapter 1, part 4.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 2 - UNIFORM FIDUCIARIES ACT (§§ 35-2-101 — 35-2-112) › Section 35-2-101 - Short title

This chapter shall be known and may be cited as the "Uniform Fiduciaries Act."
Acts 1953, ch. 82, § 14 (Williams, § 9596.31); T.C.A. (orig. ed.), § 35-201.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 2 - UNIFORM FIDUCIARIES ACT (§§ 35-2-101 — 35-2-112) › Section 35-2-102 - Chapter definitions

(a)
In this chapter, unless the context otherwise requires:
(1)
"Bank" includes any person or association of persons, whether incorporated or not, carrying on the business of banking;
(2)
"Fiduciary" includes a trustee under any trust, expressed, implied, resulting or constructive, executor, administrator, personal representative, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate;
(3)
"Person" includes a corporation, partnership, or other association, or two (2) or more persons having a joint or common interest;
(4)
"Principal" includes any person to whom a fiduciary as such owes an obligation; and
(5)
"Savings institution" includes a federal or state savings and loan association or savings bank.
(b)
A thing is done "in good faith," within the meaning of this chapter, when it is in fact done honestly, whether it is done negligently or not.
Acts 1953, ch. 82, § 1 (Williams, § 9596.18); T.C.A. (orig. ed.), § 35-202; Acts 1985, ch. 167, § 1; 1988, ch. 854, § 13.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 2 - UNIFORM FIDUCIARIES ACT (§§ 35-2-101 — 35-2-112) › Section 35-2-103 - Application of payments made to fiduciaries - Validity of right or title acquired

A person who in good faith pays or transfers to a fiduciary any money or other property, which the fiduciary as such is authorized to receive, is not responsible for the proper application thereof by the fiduciary, and any right or title acquired from the fiduciary in consideration of such payment or transfer is not invalid in consequence of a misapplication by the fiduciary.
Acts 1953, ch. 82, § 2 (Williams, § 9596.19); T.C.A. (orig. ed.), § 35-203.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 2 - UNIFORM FIDUCIARIES ACT (§§ 35-2-101 — 35-2-112) › Section 35-2-104 - Transfer of negotiable instrument by fiduciary

If any negotiable instrument payable or endorsed to a fiduciary as such is endorsed by the fiduciary, or if any negotiable instrument payable or endorsed to the principal is endorsed by a fiduciary empowered to endorse such instrument on behalf of the principal, the endorsee is not bound to inquire whether the fiduciary is committing a breach of the fiduciary's obligation as fiduciary in endorsing or delivering the instrument, and is not chargeable with notice that the fiduciary is committing a breach of the obligation as fiduciary unless the endorsee takes the instrument with actual knowledge of such breach or with knowledge of such facts that the action in taking the instrument amounts to bad faith. If, however, such instrument is transferred by the fiduciary in payment of or as security for a personal debt of the fiduciary to the actual knowledge of the creditor, or is transferred in any transaction known by the transferee to be for the personal benefit of the fiduciary, the creditor or other transferee is liable to the principal if the fiduciary in fact commits a breach of the obligation as fiduciary in transferring the instrument.
Acts 1953, ch. 82, § 4 (Williams, § 9596.21); T.C.A. (orig. ed.), § 35-205.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 2 - UNIFORM FIDUCIARIES ACT (§§ 35-2-101 — 35-2-112) › Section 35-2-105 - Check drawn by fiduciary payable to third person

If a check or other bill of exchange is drawn by a fiduciary as such, or in the name of the principal by a fiduciary empowered to draw such instrument in the name of the principal, the payee is not bound to inquire whether the fiduciary is committing a breach of the fiduciary's obligation as fiduciary in drawing or delivering the instrument, and is not chargeable with notice that the fiduciary is committing a breach of the obligation as fiduciary unless the payee takes the instrument with actual knowledge of such breach or with knowledge of such facts that the action in taking the instrument amounts to bad faith. If, however, such instrument is payable to a personal creditor of the fiduciary and delivered to the creditor in payment of or as security for a personal debt of the fiduciary to the actual knowledge of the creditor, or is drawn and delivered in any transaction known by the payee to be for the personal benefit of the fiduciary, the creditor or other payee is liable to the principal if the fiduciary in fact commits a breach of the obligation as fiduciary in drawing or delivering the instrument.
Acts 1953, ch. 82, § 5 (Williams, § 9596.22); T.C.A. (orig. ed.), § 35-206.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 2 - UNIFORM FIDUCIARIES ACT (§§ 35-2-101 — 35-2-112) › Section 35-2-106 - Check drawn by and payable to fiduciary - Uniform Veterans' Guardianship Act unaffected

(a)
If a check or other bill of exchange is drawn by a fiduciary as such or in the name of the principal by a fiduciary empowered to draw such instrument in the name of the principal, payable to the fiduciary personally, or payable to a third person and by the third person transferred to the fiduciary, and is thereafter transferred by the fiduciary, whether in payment of a personal debt of the fiduciary or otherwise, the transferee is not bound to inquire whether the fiduciary is committing a breach of the fiduciary's obligation as fiduciary in transferring the instrument, and is not chargeable with notice that the fiduciary is committing a breach of the obligation as fiduciary unless the transferee takes the instrument with actual knowledge of such breach or with knowledge of such facts that the action in taking the instrument amounts to bad faith, except and provided that title 34, chapter 5, being the Uniform Veterans' Guardianship Act, is not by this chapter amended.
(b)
This chapter shall not apply in any situation governed by the Uniform Veterans' Guardianship Act.
Acts 1953, ch. 82, § 6 (Williams, § 9596.23); T.C.A. (orig. ed.), § 35-207.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 2 - UNIFORM FIDUCIARIES ACT (§§ 35-2-101 — 35-2-112) › Section 35-2-107 - Deposit in name of fiduciary as such - Drawing check

If a deposit is made in a bank or savings institution to the credit of a fiduciary as such, the bank or savings institution is authorized to pay the amount of the deposit or any part thereof upon the check of the fiduciary, signed with the name in which such deposit is entered, without being liable to the principal, unless the bank or savings institution pays the check with actual knowledge that the fiduciary is committing a breach of the fiduciary's obligation as fiduciary in drawing the check or with knowledge of such facts that its action in paying the check amounts to bad faith. If, however, such a check is payable to the drawee bank or savings institution and is delivered to it in payment of or as security for a personal debt of the fiduciary to it, the bank or savings institution is liable to the principal if the fiduciary in fact commits a breach of the obligation as fiduciary in drawing or delivering the check except as provided in §
35-2-106
.
Acts 1953, ch. 82, § 7 (Williams, § 9596.24); T.C.A. (orig. ed.), § 35-208; Acts 1985, ch. 167, § 2.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 2 - UNIFORM FIDUCIARIES ACT (§§ 35-2-101 — 35-2-112) › Section 35-2-108 - Deposit in name of principal - Drawing checks

If a check is drawn upon the account of the principal in a bank or savings institution by a fiduciary who is empowered to draw checks upon the principal's account, the bank or savings institution is authorized to pay such check without being liable to the principal, unless the bank or savings institution pays the check with actual knowledge that the fiduciary is committing a breach of the fiduciary's obligation as fiduciary in drawing such check, or with knowledge of such facts that its action in paying the check amounts to bad faith. If, however, such a check is payable to the drawee bank or savings institution and is delivered to it in payment of or as security for a personal debt of the fiduciary to it, the bank or savings institution is liable to the principal if the fiduciary in fact commits a breach of the obligation as fiduciary in drawing or delivering the check.
Acts 1953, ch. 82, § 8 (Williams, § 9596.25); T.C.A. (orig. ed.), § 35-209; Acts 1985, ch. 167, § 2.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 2 - UNIFORM FIDUCIARIES ACT (§§ 35-2-101 — 35-2-112) › Section 35-2-109 - Deposit in fiduciary's personal account - Drawing checks

If a fiduciary makes a deposit in a bank or savings institution to the fiduciary's personal credit of checks drawn by the fiduciary upon an account in the fiduciary's own name as fiduciary, or of checks payable to the fiduciary as fiduciary, or of checks drawn by the fiduciary upon an account in the name of the principal if the fiduciary is empowered to draw checks thereon, or of checks payable to the principal and endorsed by the fiduciary, if the fiduciary is empowered to endorse such checks, or if the fiduciary otherwise makes a deposit of funds held by the fiduciary as fiduciary, the bank or savings institution receiving such deposit is not bound to inquire whether the fiduciary is committing thereby a breach of the obligation as fiduciary. The bank or savings institution is authorized to pay the amount of the deposit or any part thereof upon the personal check of the fiduciary without being liable to the principal unless the bank or savings institution receives the deposit or pays the check with actual knowledge that the fiduciary is committing a breach of the obligation as fiduciary in making such deposit or in drawing such check or with knowledge of such facts that its action in receiving the deposit or paying the check amounts to bad faith.
Acts 1953, ch. 82, § 9 (Williams, § 9596.26); T.C.A. (orig. ed.), § 35-210; Acts 1985, ch. 167, § 2.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 2 - UNIFORM FIDUCIARIES ACT (§§ 35-2-101 — 35-2-112) › Section 35-2-110 - Deposit in names of two (2)

When a deposit is made in a bank or savings institution in the name of two (2) or more persons as fiduciaries and a check is drawn upon the fiduciary account by any fiduciary or fiduciaries authorized by the other fiduciary or fiduciaries to draw checks upon the fiduciary account, neither the payee nor other holder nor the bank or savings institution is bound to inquire whether it is a breach of trust to authorize such fiduciary or fiduciaries to draw checks upon the fiduciary account, and is not liable unless the circumstances be such that the action of the payee or other holder or the bank or savings institution amounts to bad faith.
Acts 1953, ch. 82, § 10 (Williams, § 9596.27); T.C.A. (orig. ed.), § 35-211; Acts 1985, ch. 167, § 2; 1988, ch. 854, § 14.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 2 - UNIFORM FIDUCIARIES ACT (§§ 35-2-101 — 35-2-112) › Section 35-2-111 - Applicability of chapter - Cases not provided for

(a)
This chapter is applicable to state and federal savings and loan associations and savings banks. In the event of a conflict between this chapter and a law on the same subject relating specifically to state or federal savings and loan associations or savings banks, the specific law shall be controlling.
(b)
In any case not provided for in this chapter, the rules of law and equity, including the law merchant and those rules of law and equity relating to trusts, agency, negotiable instruments and banking, shall continue to apply.
(c)
(1)
Knowledge on the part of the bank or savings institution of the existence of a fiduciary relationship or the terms of the relationship shall not impose any duty or liability on the bank or savings institution for any action of the fiduciary.
(2)
A bank or savings institution has no duty to establish an account for a fiduciary or to limit transactions in an account so established unless, in its discretion, it contracts in writing with the fiduciary to establish or limit transactions with respect to such an account; provided, that this shall not preclude a court from temporarily enjoining or restraining the removal of funds from an existing account by a bank or savings institution over which the court exercises personal jurisdiction.
Acts 1953, ch. 82, § 12 (Williams, § 9596.29); T.C.A. (orig. ed.), § 35-213; Acts 1985, ch. 168, § 1; 1993, ch. 175, § 1.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 2 - UNIFORM FIDUCIARIES ACT (§§ 35-2-101 — 35-2-112) › Section 35-2-112 - Uniformity of interpretation

This chapter shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it.
Acts 1953, ch. 82, § 13 (Williams, § 9596.30); T.C.A. (orig. ed.), § 35-214.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 3 - INVESTMENT OF TRUST FUNDS (§§ 35-3-101 — 35-3-124) › Section 35-3-101 - Authority of court

The court is authorized to have the money and funds in the hands of clerks and receivers, or trustees, in litigation or under the control of the court, invested under such rules and orders in each case as may be legal and just.
Acts 1865, ch. 19, § 1; Shan., § 5433; mod. Code 1932, § 9592; T.C.A. (orig. ed.), § 35-301.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 3 - INVESTMENT OF TRUST FUNDS (§§ 35-3-101 — 35-3-124) › Section 35-3-102 - Authorized investments

All trustees, guardians and other fiduciaries in this state, unless prohibited, or another mode of investment is prescribed by the will or deed of the testator or other person establishing the trust, may invest all funds in their hands in securities specified in §§
35-3-103
- 35-3-111, and may also invest funds in income-producing commercial or residential property.
Amended by 2016 Tenn. Acts, ch. 640,s 3, eff. 3/23/2016.
Acts 1931, ch. 100, § 1; C. Supp. 1950, § 9596.1; modified; T.C.A. (orig. ed.), § 35-302.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 3 - INVESTMENT OF TRUST FUNDS (§§ 35-3-101 — 35-3-124) › Section 35-3-103 - Federal and state securities

(a)
Investments may be made in bonds, notes and stock of the United States and any state and territory of the United States.
(b)
In the absence of an express provision to the contrary, if an indenture or other governing instrument directs, requires, authorizes or permits investment in United States government obligations, a bank, trust company, trust department or other fiduciary may invest in the obligations, either directly or in the form of securities or other interests in any open end or closed end management type investment company or investment trust registered under the federal Investment Company Act of 1940 (
15 U.S.C. § 80a-1
et seq.), if the portfolio of the investment company or investment trust is limited to United States government obligations and to repurchase agreements fully collateralized by the obligations and if the investment company or investment trust actually takes delivery of the collateral, either directly or through an authorized custodian.
Acts 1931, ch. 100, § 1(a); C. Supp. 1950, § 9596.1(A); modified; T.C.A. (orig. ed.), § 35-303; Acts 1987, ch. 89, §1; 2008 , ch. 672, § 1.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 3 - INVESTMENT OF TRUST FUNDS (§§ 35-3-101 — 35-3-124) › Section 35-3-104 - Securities of foreign governments

Investments may be made in bonds, notes and stock issued or guaranteed by any foreign government with which the United States is at the time of sale or offer of sale of the bonds, notes or stock maintaining diplomatic relations and which foreign government has not, for at least thirty (30) years prior to the making of the investment, defaulted for more than thirty (30) days in the payment of any part either of principal or interest of any bond, note, stock or other evidence of indebtedness issued by it; provided, that if the foreign government has not been in existence for as much as thirty (30) years, but has been in existence for not less than ten (10) years, then the investment may be made in securities issued or guaranteed by it, if it has not defaulted in the payment of any part either of principal or interest of any bond, note, stock or other evidence of indebtedness issued by it since it has been in existence.
Acts 1931, ch. 100, § 1(b); C. Supp. 1950, § 9596.1(B); modified; T.C.A. (orig. ed.), § 35-304.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 3 - INVESTMENT OF TRUST FUNDS (§§ 35-3-101 — 35-3-124) › Section 35-3-105 - Bonds of counties - "Net revenue" defined

(a)
Investments may be made in bonds of any county in the state and bonds of any city or town in the state having a population of not less than two thousand (2,000) by the last federal census preceding the investment, regardless of whether the bonds are payable from taxes levied on property in the county, city or town, or are payable solely from revenues of the waterworks system, electric distribution system or both owned and operated by the issuing county, city or town, or are payable from both taxes and revenues; provided, that the county, city or town has not defaulted within fifteen (15) years preceding the investment, for more than ninety (90) days, in the payment of any part of either principal or interest on any bond, note or other evidence of valid indebtedness.
(b)
Before any funds may be invested in bonds payable solely from waterworks, electric revenue or both, there shall be furnished with the bonds a certified copy of an operating statement issued by the official in charge of the operations of the waterworks or electric distribution systems, showing that the net revenue from the system or systems pledged to and available for the principal of and interest on all outstanding bonds payable from that revenue, covering a period of twelve (12) consecutive months out of the fifteen (15) months preceding the investment, have been at least one and one-third (1 1/3) times the highest combined principal and interest requirements for any one (1) year on all bonds then outstanding that are payable from the pledged revenues of the system or systems.
(c)
"Net revenue" means total revenue less operating expenses incurred in connection with the operation of the system or systems.
Acts 1931, ch. 100, § 1(c); 1939, ch. 143, § 1; 1949, ch. 275, § 1; C. Supp. 1950, § 9596.1(C); modified; T.C.A. (orig. ed.), § 35-305.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 3 - INVESTMENT OF TRUST FUNDS (§§ 35-3-101 — 35-3-124) › Section 35-3-106 - Municipal bonds

Investments may be made in bonds and notes of any county, city or town in any state or territory of the United States that has a population, as shown by the last federal census next preceding the investment, of not less than forty-five thousand (45,000) and has not defaulted within twenty-five (25) years next preceding the investment, for more than thirty (30) days, in the payment of any part of either principal or interest of any bond, note or other evidence of indebtedness.
Acts 1931, ch. 100, § 1(e); C. Supp. 1950, § 9596.1(D); modified; T.C.A. (orig. ed.), § 35-306.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 3 - INVESTMENT OF TRUST FUNDS (§§ 35-3-101 — 35-3-124) › Section 35-3-107 - Real estate bonds and notes

Investments may be made in bonds and notes secured by first mortgage or deed of trust on real estate located in this state; provided, that:
(1)
The face or principal amount of the bonds or notes does not exceed one-half (1/2) the actual value of the real estate as appraised by one (1) or more licensed real estate dealers acting for unincorporated trustees, guardians or other fiduciaries, and in case of incorporated trustees, guardians or other fiduciaries, the appraisal shall be made by an agent or committee composed of or selected by the board of directors or executive committee of the incorporated trustee, guardian or other fiduciary;
(2)
The trustee, guardian or other fiduciary or any institution controlled by that entity or person has not received any commission from the borrower or issuer in the making of the mortgage or deed of trust or the underwriting of the securities secured by the mortgage or deed of trust, unless the commission charged the borrower or issuer does not exceed one percent (1%) per annum of the aggregate principal amount of the bonds or notes; and
(3)
Any probate or chancery court of the county where the fiduciary is located, upon the application of any beneficiary of the trust or of any person connected with any beneficiary, by consanguinity or affinity, within the sixth degree as computed by the civil law, may, at any time, either restrain the making of any such proposed investment, if the investment is not consummated, or if consummated, require the fiduciary promptly to dispose of the bonds or notes at the best price then obtainable and otherwise reinvest the funds, and the court may exercise such power to restrain or compel disposal in all cases in which the court may find that action to be necessary to protect the interest of any beneficiary.
Acts 1931, ch. 100, § 1(f); C. Supp. 1950, § 9596.1(E); modified; T.C.A. (orig. ed.), § 35-307.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 3 - INVESTMENT OF TRUST FUNDS (§§ 35-3-101 — 35-3-124) › Section 35-3-111 - Obligations of certain federal agencies

Trustees, guardians and other fiduciaries may also invest in or lend on the following obligations issued by the following authorized federal agencies:
(1)
Bonds and/or debentures issued by a federal home loan bank organized under the "Federal Home Loan Bank Act" (47 Stat. 725,
12 U.S.C. § 1421
et seq.);
(2)
Stock of federal savings and loan associations organized under the "Home Owner's Loan Act of 1933" (48 Stat. 128,
12 U.S.C. § 1461
et seq.), and amendments to that act, and/or building and loan associations, licensed to do business in Tennessee, where the stock of the associations is insured by the federal savings and loan insurance corporation;
(3)
Notes, bonds, debentures or other obligations issued under title IV of the act of congress of the United States entitled "National Housing Act," approved June 27, 1934 (48 Stat. 1246,
12 U.S.C. § 1701
et seq.), and any amendments thereto; and
(4)
Mortgages guaranteed or insured under title III of the act of congress of the United States, entitled "Servicemen's Readjustment Act of 1944," approved June 22, 1944 (58 Stat. 284,
38 U.S.C. § 1801
et seq. [repealed]), and any amendments thereto.
Acts 1935 (E.S.), ch. 36, § 1; 1939, ch. 73, § 1; 1949, ch. 175, §1; C. Supp. 1950, § 9596.1(I); modified; T.C.A. (orig. ed.), § 35-311.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 3 - INVESTMENT OF TRUST FUNDS (§§ 35-3-101 — 35-3-124) › Section 35-3-112 - State and federal bond issues - Reports

Guardians, executors, administrators and trustees shall also be authorized and empowered to invest money and funds in their hands in the bonds of the state, of the United States, or obligations issued separately or collectively by or for federal land banks, federal intermediate credit banks and banks for cooperatives under the act of congress known as the Farm Credit Act of 1971 (85 Stat. 583,
12 U.S.C. § 2001
et seq.) and amendments to that act, or in obligations issued under the Home Owner's Loan Act of congress (
12 U.S.C. § 1461
et seq.), or notes or bonds secured by mortgage or trust deed insured by the federal housing administrator, or bonds and/or debentures issued by national mortgage associations; also to lend on the security of any such bonds to the extent of eighty-five percent (85%) of their face value; and, in either case, make report thereof to the court where the guardian, executor, administrator or trustee is qualified, unless another mode of investment is required by will or deed of the testator or another person who has established the funds.
Acts 1865, ch. 19, § 2; Shan., § 4281; Acts 1925, ch. 9, § 1; Shan. Supp., § 4281a4; mod. Code 1932, § 8497; Acts 1935, ch. 136, §1; 1935, ch. 187, § 1; 1937, ch. 75, § 1; C. Supp. 1950, §8497; Acts 1976, ch. 585, § 2; T.C.A. (orig. ed.), § 35-312.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 3 - INVESTMENT OF TRUST FUNDS (§§ 35-3-101 — 35-3-124) › Section 35-3-113 - Life, endowment or annuity contracts of life insurance companies

(a)
Executors, trustees and guardians are authorized, with the approval of a probate court or other court of competent jurisdiction, to invest out of income or principal of funds in their custody, in single or annual premium life, endowment or annuity contracts of legal reserve life insurance companies duly licensed and qualified to transact business within the state.
(b)
Such contracts may be issued on the life or lives of any beneficiary, cestui que trust or ward, who may have a vested or contingent interest in the estate, or on the life or lives of any parent, trustor or other person in whom any beneficiary, cestui que trust or ward may have an insurable interest, and shall such be so drawn that the legal title of the policy or contract shall be in and the proceeds or avails of the proceeds payable to and in the control of the fiduciary making the investment, and may be retained and shall be subject to transfer, assignment and conveyance by the fiduciary as other personal property held in the account.
Acts 1939, ch. 133, §§ 1-3; 1945, ch. 150, § 1; mod. C. Supp. 1950, § 9596.2; T.C.A. (orig. ed.), §35-313; Acts 2010 , ch. 725, § 22.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 3 - INVESTMENT OF TRUST FUNDS (§§ 35-3-101 — 35-3-124) › Section 35-3-114 - Certificates of deposit and savings accounts

All trustees and guardians in this state, unless prohibited, or another mode of investment is prescribed, by the will or deed of the testator or other person establishing the trust, may invest trust funds in their hands, in addition to the investments heretofore authorized, in certificates of deposit of, and savings accounts in, any national or state bank in the United States, including itself if such trustee or guardian is a national or state bank in the United States otherwise qualified, whose deposits are insured by the federal deposit insurance corporation, at the prevailing rate of interest of such certificates or savings accounts. No trustee or guardian shall invest in such certificates of deposit of, or savings accounts in any one (1) bank, an amount from any one (1) fund in the trustee's or guardian's care in excess of such amount as is fully insured as a deposit in the bank by the federal deposit insurance corporation, unless the investment is first approved by a court of competent jurisdiction.
Acts 1939, ch. 170, § 1; C. Supp. 1950, § 9596.3 (Williams, §9596.7); Acts 1975, ch. 331, § 1; T.C.A. (orig. ed.), § 35-314; Acts 1989, ch. 288, § 1.
2023 Tennessee Code › Title 35 - FIDUCIARIES AND TRUST ESTATES (§§ 35-1-101 — 35-50-125) › Chapter 3 - INVESTMENT OF TRUST FUNDS (§§ 35-3-101 — 35-3-124) › Section 35-3-115 - Public housing authority obligations

Notwithstanding any restrictions on investments contained in any laws of this state, the state and all public officers, municipal corporations, political subdivisions, and public bodies, all banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, and other persons carrying on a banking business, all insurance companies, insurance associations and other persons carrying on an insurance business, and all executors, administrators, guardians, trustees and other fiduciaries may legally invest any sinking funds, moneys or other funds belonging to them or within their control in any bonds or other obligations issued by a housing authority pursuant to the Housing Authorities Law, compiled in title 13, chapter 20, and any amendments to that law, or issued pursuant to the Memphis Housing Authority Law, chapter 615 of the Private Acts of 1935, as amended by chapter 900 of the Private Acts of 1937, and any amendments to that law, or issued by any public housing authority or agency in the United States, when the bonds or other obligations are secured by a pledge of annual contributions to be paid by the United States government or any agency of the United States government. The bonds and other obligations shall be authorized security for all public deposits, it being the purpose of this section to authorize any persons, firms, corporations, associations, political subdivisions, bodies and officers, public or private, to use any funds owned or controlled by them, including, but not limited to, sinking, insurance, investment, retirement, compensation, pension and trust funds, and funds held on deposit, for the purchase of any such bonds or other obligations; provided, that nothing contained in this section shall be construed as relieving any person, firm or corporation from any duty of exercising reasonable care in selecting securities.
Acts 1939, ch. 155, § 1; C. Supp. 1950, § 9596.4 (Williams, §9596.8); T.C.A. (orig. ed.), § 35-315.