Tenn. Comp. R. & Regs. 0180-16-.04 - FORM OF THE SPECIAL RESERVE
Current through March 20, 2022
The special reserve fund shall consist either of cash or of investment-quality securities not inconsistent with the provisions of T.C.A. § 45-2-607, or both. Such securities shall be rated in one of the four (4) highest investment grades by one or more recognized investment rating services approved by the commissioner for rating such investments. All such securities shall be marked to market value for the purpose of determining the amount of the special reserve. Income from such securities shall accrue directly to the Bank.
Authority: T.C.A. §§ 45-1-107 and 45-2-403; Public Chapter 865, Acts of 1986.
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