Rules & Regulations of the State of Tennessee
Title 1360 - Department of State
Subtitle 1360-03 - Charitable Solicitations and Gaming Division
Chapter 1360-03-04 - Catastrophic Illness Trusts
Section 1360-03-04-.04 - FINANCIAL RECORDS

Universal Citation: TN Comp Rules and Regs 1360-03-04-.04

Current through September 24, 2024

(1) All trustees shall be responsible for maintaining true and accurate financial records of the trust, including, but not limited to, records of all revenue and expenses of the trust. All records should be kept for no less than three (3) years.

(2) Such records shall be made available to the Secretary of State for inspection subject to the provisions of Title 45, Chapter 10 and the Federal Right to Financial Privacy Act, Pub. L. 95-630, as amended, 12 U.S.C. Section 3401 et seq.

(3) In addition to the authority to inspect financial records, the Secretary of State may compel additional production of documents, exhibits, or things, or subpoena duces tecum presentation and delivery of all records or other tangible items, by any person which the Secretary believes to be pertinent in conducting any investigation.

Authority: T.C.A. § 35-11-101 et seq.; Chapter 430 §§ 8, 9 of the Public Acts of 2007; T.C.A § 48-101-514(b)(1).

Disclaimer: These regulations may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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