Senate Bill 1508, also known as House Bill 1567, proposes amendments to the Tennessee Code Annotated concerning the collateral pool board. Specifically, it deletes subdivision (13) from Section 4-29-247(a) and introduces a new subdivision in Section 4-29-252(a) that recognizes the collateral pool board, which is established by Section 9-4-506.

The bill aims to streamline the legal framework surrounding the collateral pool board by removing outdated provisions and clarifying its establishment. The act is set to take effect immediately upon becoming law, emphasizing the importance of the changes for public welfare.

Statutes affected:
Introduced: 4-29-247(a), 4-29-247, 4-29-252(a), 4-29-252