TCA § 49-7-602 — Legislative declaration

The general assembly recognizes the importance of creating a legal mechanism to safeguard and protect valuable rights and privileges sought to be created and protected by the framers of our constitution. Through this part, the general assembly recognizes, as did our forefathers, that knowledge, learning and virtue are essential to the preservation of our institutions of government and the diffusion of the opportunities and advantages of education should be paramount in our concerns. To that end, the general assembly declares its support for the establishment and formation of a trust corporation to act as trustee of a charitable trust for higher education and for the encouragement and acceptance of voluntary contributions for the benefit of the state and its citizens. Through the mechanism established by this part, the inherent values so essential for the general welfare of our state will be preserved for future generations.