TCA § 9-4-520 — State and public depositors not liable — Exception

Under no circumstance is the state, or any state agency, or public depositor, liable for all or any portion of any loss resulting from the default or insolvency of a qualified public depository except as provided in § 9-4-519(b) . Acts 1990, ch. 1043, § 1. Compiler's Notes. Former part 5, §§ 9-4-501 — 9-4-511 (Acts 1980, ch. 449, §§ 1-10, 12; T.C.A., §§ 9-5-401 — 9-5-410 , 9-5-412 ; Acts 1985, ch. 118, § 40; 1986, ch. 551, §§ 4-7; 1988, ch. 602, §§ 2-6), concerning an alternate method of securing the deposit of state funds, was repealed effective January 1, 1991 by Acts 1990, ch. 1043, § 1, which also enacted a new title 9, ch. 4, part 5 concerning a collateral pool for public deposits, effective January 1, 1991.