As used in this part, unless the context otherwise requires:

(1) “Agent” means any person duly authorized in writing by a lessee to enter a safe deposit box rented by the lessee, whether the person be denominated as “agent,” “deputy,” “attorney-in-fact,” or otherwise. The agent‘s authority shall be established and shall continue until revoked, both in accordance with § 45-2-707;

Terms Used In Tennessee Code 45-2-901

  • Agent: means any person duly authorized in writing by a lessee to enter a safe deposit box rented by the lessee, whether the person be denominated as "agent" "deputy" "attorney-in-fact" or otherwise. See Tennessee Code 45-2-901
  • Bank: means any person, as hereinafter defined, doing a banking business subject to the laws of this or any other jurisdiction and, for the purposes of supervision, examination and liquidation, includes industrial investment companies and industrial banks authorized by chapter 5 of this title. See Tennessee Code 45-1-103
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Department: means the department of financial institutions. See Tennessee Code 45-1-103
  • Deposit: means a deposit of money, bonds or other things of value, creating a debtor-creditor relationship. See Tennessee Code 45-1-103
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lessee: means a person contracting with a lessor for the use of a safe deposit box. See Tennessee Code 45-2-901
  • Lessor: means a bank or subsidiary corporation of a bank renting safe deposit facilities, and includes a safe deposit company organized and operating under the jurisdiction of the department solely for the purpose of leasing safe deposit facilities. See Tennessee Code 45-2-901
  • Minor: means any person who has not attained eighteen (18) years of age. See Tennessee Code 1-3-105
  • operating: means that:
    (A) A charter has been issued to a bank by the United States comptroller of the currency or a certificate of authority has been issued by the commissioner. See Tennessee Code 45-1-103
  • Person: means an individual, corporation, firm, trust, estate, partnership, joint venture, or association. See Tennessee Code 45-1-103
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • Safe deposit box: means a safe deposit box, vault, or other safe deposit receptacle maintained by a lessor and the rules relating thereto apply to property or documents kept in safekeeping in the bank's vault. See Tennessee Code 45-2-901
  • Trustee: A person or institution holding and administering property in trust.
(2) “Fiduciary” means trustee, agent, executor, administrator, committee, guardian or conservator for a minor or other incompetent person, receiver, trustee in bankruptcy, assignee for creditors or any holders of a similar position of trust;
(3) “Lessee” means a person contracting with a lessor for the use of a safe deposit box;
(4) “Lessor” means a bank or subsidiary corporation of a bank renting safe deposit facilities, and includes a safe deposit company organized and operating under the jurisdiction of the department solely for the purpose of leasing safe deposit facilities; and
(5) “Safe deposit box” means a safe deposit box, vault, or other safe deposit receptacle maintained by a lessor and the rules relating thereto apply to property or documents kept in safekeeping in the bank’s vault.
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