Title 49, Education

Except as otherwise provided, no board member nor employee of the board shall have any personal interest in the gains or profits of any investment made by the board; nor shall any board member or employee of the board, directly or indirectly, for the member or employee or as an a…

(a) Implementation of the policies established by the board may be delegated by the board to the state treasurer who shall put the policies into effect. (b) Subject to the delegation of the board, the state treasurer shall have full power to invest and reinvest the assets of the …

(a) Notwithstanding any other law to the contrary, the board may, at its option, contract for investment management services for the assets of either or both of the trust funds and provide for the powers, duties, functions and compensation of any investment managers so engaged. A…

(a) The board shall obtain appropriate actuarial assistance to establish, and maintain, and certify a fund sufficient to defray the obligation of the educational services plan. The actuary shall recommend to the board, and the board shall adopt, actuarial assumptions and appropri…

The board may call upon other departments and agencies of this state for assistance in carrying out the purpose and intent of this part, including, but not limited to, the office of vital records. Notwithstanding any other law to the contrary, the office of vital records shall pr…

Notwithstanding any law to the contrary, all assets, income and distributions of qualified tuition plans as defined by the code authorized by federal law, this part, part 9 of this chapter or by the laws of another state are exempt from any state, county or municipal tax and shal…

If the board determines that any of the educational investment plan or plans or the educational services plan is, for any reason, financially unfeasible, or is not beneficial to the citizens of this state or to the state itself, the board may suspend or terminate the plan immedia…

(a) A tuition contract terminates when the plan is terminated if the contract does not remain in effect under subsection (b). In that event, the purchaser must make a written request to the board to roll the tuition account over to another qualified tuition program established un…

(a) Notwithstanding any other law to the contrary, except as provided in subsections (b) and (c), the board and any officer, employee, agent or contractor of the board shall not disclose personal information about any person obtained by the board in connection with the purchase o…

(a) The state or any department, division or agency of the state may establish a scholarship program to award scholarships to students that consist of contributions and earnings accrued in a savings account created through the educational investment plan established pursuant to §…

This part shall be known and may be cited as the “Baccalaureate Education Savings for Tennessee Act.”

(1) The general assembly finds and declares that:(1) It is an essential function of government to foster and encourage schools and the means of education, as provided in the Constitution of Tennessee, Article XI, § 12;(2) It is a responsibility of state government to maintain ins…

(1) In light of the findings described in § 49-7-902, the general assembly declares the purposes of this part to be to:(1) Encourage education and the means of education;(2) Encourage attendance at institutions of higher education;(3) Provide students and their parents financing …

(a) Bonds issued by the state funding board pursuant to title 9, chapter 9, or by the Tennessee state school bond authority pursuant to chapter 3, part 12 of this title, may be designated by the appropriate issuer as college savings bonds and issued in accordance with this part. …

(a) College savings bonds shall be sold at a discount to be determined by the issuer, shall bear no stated rate of interest and shall be payable in one (1) payment at maturity on a fixed date. The bonds shall mature no less than five (5) years nor more than twenty (20) years from…

(a) The state funding board and the Tennessee state school bond authority, when issuing college savings bonds, shall develop a plan of implementation for the sale and issuance of the bonds, including:(1) Advertising to inform the public about the availability of college savings b…

After each sale and issue of college savings bonds pursuant to this part, the appropriate issuer shall report to the general assembly an evaluation of the sale of the college savings bonds and recommendations, if any, for improvements in the program.