Skip to main content
Find a Lawyer

Tennessee Code Title 49. Education § 49-7-107

Current as of January 02, 2024 | Updated by Findlaw Staff

(a) The board of regents, the board of trustees of the University of Tennessee, and state university boards are authorized and empowered to take such steps, to enter into such agreements, and to do whatever they deem necessary to the establishment of foundations for the state institutions of higher education under their control.

(b) All annual reports and all books of accounts and financial records of a foundation created for the benefit of a public institution of higher education shall be subject to audit by the comptroller of the treasury.

(c) Any foundation created pursuant to this section shall establish and adopt a code of ethics that shall apply to and govern the conduct of all members of the foundation board.

(d)(1) Notwithstanding any other law to the contrary, by a two-thirds ( 2/3 ) vote of its membership, the foundation board may remove any appointed member of the foundation board for a material violation of the code of ethics.

(2) A foundation board vote to remove a member shall only be taken after the accused member has been afforded an opportunity to address the board in connection with the alleged violation.

(3) If a member is removed in accordance with this subsection (d), the position shall be considered vacant and the vacancy shall be filled as provided by the foundation's bylaws.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Tennessee Code Title 49. Education § 49-7-107 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-49-education/tn-code-sect-49-7-107/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard