8-37-111 - Outside investment counsel Expenses.
8-37-111. Outside investment counsel Expenses.
(a) Any other provisions of the law to the contrary notwithstanding, the board of trustees shall have the authority to employ outside investment counsel for advisory services.
(b) The expenses of the fees charged by such investment counsel and any expense incurred under the authority of title 9, chapter 4, part 4, relative to the safekeeping and servicing of retirement system securities shall be charged to and paid from the earnings of the funds.
[Acts 1972, ch. 814, § 7; T.C.A., § 8-3929(7); Acts 1981, ch. 387, § 19.]