Section 41-22-408 - Contracts for services - Budgets - Operating plans - Monitoring(a) Notwithstanding any law to the contrary, the board has the authority to contract for professional services, for which reimbursement may be established on an incentive basis, and for the lease or purchase of property and equipment, to be provided for TRICOR, that is necessary for the efficient discharge of its duties to manage and operate.(b) The board shall establish the budget for TRICOR based on its mission and shall submit its budget directly to the commissioner of finance and administration independent from the department of correction budget.(c) The board shall approve the annual operating plan of TRICOR.(d) The board shall establish and review, as necessary, the pricing policies for products and services provided by TRICOR.(e) The board shall have such other powers as are necessary to accomplish the mission of TRICOR as the board establishes for itself and as are reviewed by the state and local government committee of the senate and the state government committee of the house of representatives and the governor.(f)(1) The board has the duty to monitor TRICOR's operation and management and to impose such limitations as are prudent and necessary to assure that freedoms and powers are not abused. The board and TRICOR are subject to audit by the comptroller of the treasury as provided by law. With the approval of the comptroller of the treasury, the board may engage the services of a public accounting firm.(2) The board shall assist TRICOR in maintaining the quality of management processes and reporting, providing for the adequacy of financial and accounting control systems and serving as a communications channel between TRICOR managers and auditors.(3)(A) The board shall adopt and publish bylaws to govern its operation and to provide an orderly change process by which its powers, responsibilities and functions may from time to time be modified. The bylaws of TRICOR shall be altered, rescinded or amended in the manner described in subdivision (f)(3)(B).(B) The adopted bylaws may be altered, rescinded or amended by a two-thirds (2/3) vote of any regular or special meeting of the board of directors, if a copy of the proposed amendment is submitted in writing to each director at least ten (10) days before the meeting at which a vote upon the proposal is to be taken and upon ratification by the state and local government committee of the senate, the state government committee of the house of representatives and the governor or the governor's designee.Amended by 2021 Tenn. Acts, ch. 64, s 60, eff. 3/29/2021.Amended by 2019 Tenn. Acts, ch. 345, s 70, eff. 5/10/2019.Amended by 2013 Tenn. Acts, ch. 236, s 64, eff. 4/19/2013.Acts 1994, ch. 737, § 1; 2003 , ch. 187, §§ 21-29; 2006, ch. 750, § 4; 2011 , ch. 410, § 2(k); 2012 , ch. 925, § 3.