(a) The Tennessee student assistance corporation is authorized and empowered to:(1) Invest and reinvest any funds of the corporation in treasury notes, bonds or other securities of the United States, or bonds of this state; and(2) Deposit on interest any funds of the corporation in a bank or banks in this state, in which bank or banks the deposits are guaranteed by the federal deposit insurance corporation or collateralized in compliance with § 9-4-105, applicable to deposits of public funds.
(1) Invest and reinvest any funds of the corporation in treasury notes, bonds or other securities of the United States, or bonds of this state; and
(2) Deposit on interest any funds of the corporation in a bank or banks in this state, in which bank or banks the deposits are guaranteed by the federal deposit insurance corporation or collateralized in compliance with § 9-4-105, applicable to deposits of public funds.
(b) Any interest or other earnings received by the corporation shall be added to and shall be made a part of the funds and assets of the corporation.