§ 49-6-1701. Short Title

This part shall be known and may be cited as the “Financial Literacy Program Act of 2010.”

§ 49-6-1702. Creation — Administration — Powers

There is hereby created the Tennessee financial literacy commission for the purpose of raising funds, developing, managing and implementing the plans and programs described in this part. Such educational programs include, but are not limited to, financial literacy education programs for elementary school students and their parents and the promotion of financial literacy in college […]

§ 49-6-1703. Board of Directors

The commission’s board of directors shall be composed of eleven (11) members, three (3) of whom shall be the state treasurer, ex officio; the commissioner of financial institutions, ex officio; and the commissioner of education, ex officio. The non-ex officio members shall be appointed as follows: four (4) members shall be chosen by the speaker […]

§ 49-6-1704. Purpose — Authority

The purposes of the commission are to: Formulate and implement educational programs to improve the financial literacy of the citizens of this state, including, but not limited to, elementary school students and parents; Educate the public in Tennessee about effective personal management of financial resources including, but not limited to, college savings and retirement savings; […]

§ 49-6-1705. Attorney to the Commission

Counsel for the treasury department shall serve as the attorney to the commission. Notwithstanding subsection (a) or any other law to the contrary, in cases where the interest of the commission requires additional counsel, the treasurer, with the approval of the attorney general and reporter, is authorized to contract with such additional counsel, who shall […]

§ 49-6-1706. Funds

Funds of the commission shall be used exclusively for the purposes and activities set forth in this part and shall be invested by the state treasurer in accordance with § 9-4-603. Any reserve balance remaining unexpended at the end of a fiscal year in the commission’s account shall not revert to the general fund but […]

§ 49-6-1707. Examination and Audit

The commission shall be subject to examination and audit by the comptroller of the treasury in the same manner as prescribed for the department of the treasury.

§ 49-6-1708. Annual Report

The commission shall report annually to the general assembly on the activities of the commission for the preceding year. The first such report shall be due not later than February 1, 2011.