2019 Tennessee Code
Title 9 - Public Finances
Chapter 4 - State Funds, State Budget and Appropriations
Part 1 - Definitions
§ 9-4-102. Default.
- “Default” may include, but is not limited to:
(1) The failure of any state depository to return any state deposit, including earned interest, in accordance with the terms of the deposit contract;
(2) The failure of any state depository to pay any check, draft or warrant drawn by the state treasurer;
(3) The failure of any state depository to honor any request for electronic transfer of funds to the state;
(4) The failure of any state depository to account for any check, draft, warrant, order, deposit certificate or money entrusted to it by the state;
(5) The issuance of any order of any court or the taking of any formal action by any supervisory authority, which has the effect of restraining a state depository from making payments of deposit liabilities;
(6) The appointment of a receiver for a state depository; or
(7) Any other action which the state treasurer determines to place state deposits in jeopardy.
