Tenn. Code Ann. § 70-1-503
This is the official text of Tenn. Code Ann. § 70-1-503, part of Tennessee’s Code Ann — part of the compiled statutory law of Tennessee, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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Funding - Assets
Official statutory text
The trust must be initially funded by a deposit of all of the assets held in the wildlife management endowment fund previously created in accordance with § 70-1-501 as such section existed prior to April 14, 2022. In addition to this initial funding, the lifetime sportsman endowment fund trust must consist of the following assets deposited to or accrued in the fund: (1) [Deleted by 2023 amendment.] (2) The proceeds from cash donations or donations of property converted or to be converted to cash; (3) Such other sources as may be deemed appropriate, including sources that may be specified by law; and (4) Income derived from fund investments. Amended by 2023 Tenn. Acts, ch. 303, s 1, eff. 4/28/2023. Amended by 2022 Tenn. Acts, ch. 874, s 3, eff. 4/14/2022. Amended by 2015 Tenn. Acts, ch. 196, s 2, eff. 4/22/2015. Acts 1998, ch. 610, § 2.
The trust must be initially funded by a deposit of all of the assets held in the wildlife management endowment fund previously created in accordance with § 70-1-501 as such section existed prior to April 14, 2022. In addition to this initial funding, the lifetime sportsman endowment fund trust must consist of the following assets deposited to or accrued in the fund:
(1) [Deleted by 2023 amendment.]
(2) The proceeds from cash donations or donations of property converted or to be converted to cash;
(3) Such other sources as may be deemed appropriate, including sources that may be specified by law; and
(4) Income derived from fund investments.
Amended by 2023 Tenn. Acts, ch. 303, s 1, eff. 4/28/2023.
Amended by 2022 Tenn. Acts, ch. 874, s 3, eff. 4/14/2022.
Amended by 2015 Tenn. Acts, ch. 196, s 2, eff. 4/22/2015.
Acts 1998, ch. 610, § 2.
The trust must be initially funded by a deposit of all of the assets held in the wildlife management endowment fund previously created in accordance with § 70-1-501 as such section existed prior to April 14, 2022. In addition to this initial funding, the lifetime sportsman endowment fund trust must consist of the following assets deposited to or accrued in the fund:
(1) [Deleted by 2023 amendment.]
(2) The proceeds from cash donations or donations of property converted or to be converted to cash;
(3) Such other sources as may be deemed appropriate, including sources that may be specified by law; and
(4) Income derived from fund investments.
Amended by 2023 Tenn. Acts, ch. 303, s 1, eff. 4/28/2023.
Amended by 2022 Tenn. Acts, ch. 874, s 3, eff. 4/14/2022.
Amended by 2015 Tenn. Acts, ch. 196, s 2, eff. 4/22/2015.
Acts 1998, ch. 610, § 2.
Status: in_force
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