Terms Used In Tennessee Code > Title 33 > Chapter 1 - General Provisions

• Acceptable collateral: means :
  (A) As to securities lending transactions, and for the purpose of calculating counterparty exposure amount, cash, cash equivalents, letters of credit, direct obligations of, or securities that are fully guaranteed as to principal and interest by, the government of the United States, or by the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, and as to lending foreign securities, sovereign debt rated NAIC-SVO 1. See Tennessee Code 56-3-302
• administrator: means any person, company, corporation, partnership, association or other legal entity that collects charges or premiums from, or that adjusts or settles claims on, residents of this state in connection with life or health insurance coverage or annuities other than:
  (1) An employer on behalf of its employees or the employees of one (1) or more subsidiary or affiliated corporations of the employer. See Tennessee Code 56-6-401
• Admitted assets: means assets permitted to be reported as admitted assets on the statutory financial statement of the insurer most recently required to be filed with the commissioner, but:
  (A) Excluding the assets of separate accounts, the investments of which are not subject to this part. See Tennessee Code 56-3-302
• Adverse action: means a denial or cancellation of, an increase in any charge for, or a reduction or other adverse or unfavorable change in the terms of coverage or amount of, any insurance, existing or applied for, in connection with the underwriting of personal insurance. See Tennessee Code 56-5-201
• Advisory organization: means any person or organization, other than a rate service organization, that assists insurers as authorized by §. See Tennessee Code 56-5-102
• Advisory prospective loss costs: means historical aggregate losses and loss adjustment expenses projected through development to their ultimate value and through trending to a future point in time. See Tennessee Code 56-5-102
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Affiliate: means any insurance company that controls, is controlled by, or is under common control with the insurer writing the policies. See Tennessee Code 56-4-210
• Affiliate: means any company that controls, is controlled by, or is under common control with another company. See Tennessee Code 56-5-201
• Affiliate: means , as to any person, another person that, directly or indirectly through one (1) or more intermediaries, controls, is controlled by, or is under common control with the person. See Tennessee Code 56-3-302
• Alcohol abuse: means a condition characterized by the continuous or episodic use of alcohol resulting in social impairment, vocational impairment, psychological dependence or pathological patterns of use. See Tennessee Code 33-1-101
• Alcohol dependence: means alcohol abuse that results in the development of tolerance or manifestations of alcohol abstinence syndrome upon cessation of use. See Tennessee Code 33-1-101
• Allegation: something that someone says happened.
• Ambulance: means any privately or publicly owned land or air vehicle that is especially designed, constructed or modified and equipped and is intended to be used for and is maintained or operated for transportation upon the streets, highways or airways in this state for persons who are sick, injured, wounded, otherwise incapacitated, helpless, or in need of medical care. See Tennessee Code 68-140-302
• Ambulance service: means the principal use of any privately or publicly owned ambulance for the transportation of injured or infirm persons. See Tennessee Code 68-140-302
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Amortization: Paying off a loan by regular installments.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attorney: means the person designated and authorized by subscribers as the attorney-in-fact having authority to obligate them on reciprocal insurance contracts. See Tennessee Code 56-16-102
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Authorization: means any and all forms of official permission required by this part, including licenses, permits and certificates. See Tennessee Code 68-140-302
• 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.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Board: means the Tennessee emergency medical services board. See Tennessee Code 68-140-302
• board: means the board provided for in part 3 of this chapter. See Tennessee Code 8-34-101
• Business entity: means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. See Tennessee Code 56-6-102
• Business entity: includes a sole proprietorship, corporation, limited liability company, association, general or limited partnership, joint stock company, joint venture, mutual fund, bank, trust, real estate investment trust, joint tenancy or other similar form of business organization, whether organized for-profit or not-for-profit. See Tennessee Code 56-3-302
• Cap: means an agreement obligating the seller to make payments to the buyer with each payment based on the amount by which a reference price or level or the performance or value of one (1) or more underlying interests exceeds a predetermined number, sometimes called the strike rate or strike price. See Tennessee Code 56-3-302
• Capital and surplus: means the sum of the capital and surplus of the insurer required to be shown on the statutory financial statement of the insurer most recently required to be filed with the commissioner. See Tennessee Code 56-3-302
• Cash equivalents: means highly rated, highly liquid and readily marketable investments or securities with a remaining term to maturity of one (1) year or less, which includes money market funds as defined in §. See Tennessee Code 56-3-302
• Certificate: means official acknowledgment that an individual has successfully complied with all requirements to practice and has completed a training program accredited or recognized by the board. See Tennessee Code 68-140-302
• Child: means a person who is under eighteen (18) years of age. See Tennessee Code 33-1-101
• Clearing corporation: means :
  (i) A corporation as defined in §. See Tennessee Code 56-3-902
• Commercial risk insurance: means insurance within the scope of this part that is not personal risk insurance. See Tennessee Code 56-5-102
• Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-3-902
• Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-5-102
• Commissioner: means any person in office as a member of the public service commission, as prescribed by title 65, chapter 1, prior to June 30, 1996. See Tennessee Code 8-34-101
• Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-6-102
• Commissioner: means the commissioner of mental health and substance abuse services. See Tennessee Code 33-1-101
• Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-1-102
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Consumer: means an insured whose credit information is used or whose insurance score is calculated in the underwriting or rating of a personal insurance policy or an applicant for the policy. See Tennessee Code 56-5-201
• Consumer reporting agency: means any entity that, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of furnishing consumer reports to third parties. See Tennessee Code 56-5-201
• Control: means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a company. See Tennessee Code 56-4-210
• Conviction: A judgement of guilt against a criminal defendant.
• Counterparty exposure amount: means :
  (A) For an over-the-counter derivative instrument not entered into pursuant to a written master agreement which provides for netting of payments owed by the respective parties:

  (i) The market value of the over-the-counter derivative instrument if the liquidation of the derivative instrument would result in a final cash payment to the insurer. See Tennessee Code 56-3-302
• Credit information: means any credit-related information derived from a credit report, found on a credit report itself, or provided on an application for personal insurance. See Tennessee Code 56-5-201
• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• Credit report: means any written, oral, or other communication of information by a consumer reporting agency bearing on a consumer's creditworthiness, credit standing or credit capacity that is used or expected to be used or collected in whole or in part for the purpose of serving as a factor to determine personal insurance premiums, eligibility for coverage, or tier placement. See Tennessee Code 56-5-201
• Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. ^{Source: OCC}
• Crop insurance: means insurance providing protection against damage to crops from unfavorable weather conditions, fire or lightning, flood, hail, insect infestation, disease, or other yield-reducing conditions or perils provided by the private insurance market, or that is subsidized by the Federal Crop Insurance Corporation, including multi-peril crop insurance. See Tennessee Code 56-6-102
• Custodian: means a national bank, state bank, federal home loan bank, trust company or broker/dealer that participates in a clearing corporation. See Tennessee Code 56-3-902
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the department of health. See Tennessee Code 68-140-302
• Department: means the department of commerce and insurance. See Tennessee Code 56-6-102
• Department: means the department of mental health and substance abuse services. See Tennessee Code 33-1-101
• Department: means the department of commerce and insurance. See Tennessee Code 56-1-102
• Derivative instrument: means any agreement, option or instrument, or any series or combinations of an agreement, option or instrument:
  (i) To make or take delivery of, or assume or relinquish, a specified amount of one (1) or more underlying interests, or to make a cash settlement in lieu thereof. See Tennessee Code 56-3-302
• Derivative instruments: includes options, warrants (not attached to another financial instrument purchased by the insurer), caps, floors, collars, swaps, swaptions, forwards, futures and any other agreements, options or instruments substantially similar thereto, or any series or combinations thereof. See Tennessee Code 56-3-302
• Derivative transaction: means a transaction involving the use of one (1) or more derivative instruments. See Tennessee Code 56-3-302
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dollar roll transaction: means two (2) simultaneous transactions with settlement dates no more than ninety-six (96) days apart so that in one (1) transaction an insurer sells to a business entity, and in the other transaction the insurer is obligated to purchase from the same business entity, substantially similar securities of the following types:
  (A) Mortgage-backed securities issued, assumed or guaranteed by the Government National Mortgage Association, the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation or their respective successors. See Tennessee Code 56-3-302
• Domestic insurance company: means an insurance company, other than life and fraternal insurance companies, nonprofit hospital and medical service corporations, nonprofit dental service corporations, nonprofit vision service corporations and title insurance companies, incorporated under the laws of this state. See Tennessee Code 56-3-401
• Drug abuse: means a condition characterized by the continuous or episodic use of a drug or drugs resulting in social impairment, vocational impairment, psychological dependence or pathological patterns of use. See Tennessee Code 33-1-101
• Drug dependence: means drug abuse that results in the development of tolerance or manifestations of drug abstinence syndrome upon cessation of use. See Tennessee Code 33-1-101
• Emergency medical services personnel: means individuals certified or licensed by the emergency medical services board in accordance with various categories and classifications of licenses or certificates that the board establishes. See Tennessee Code 68-140-302
• Employer: means :
  (A) The state or any department, commission, institution, board or agency of the state government by which a member is paid, with respect to members in its employ. See Tennessee Code 8-34-101
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Equity interests: includes common stock, an equity investment in an investment company, other than a money market mutual fund described in §. See Tennessee Code 56-3-302
• equity security: means any stock or similar security, or any security convertible, with or without consideration, into a stock or similar security, or carrying a warrant or right to subscribe or to purchase a stock or similar security. See Tennessee Code 56-3-701
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Ex officio: Literally, by virtue of one's office.
• Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fiduciary: A trustee, executor, or administrator.
• Fixed charges: includes interest on all bonds and other evidence of indebtedness, and amortization of debt discount and expenses. See Tennessee Code 56-3-401
• Fixed charges: includes interest on all obligations and amortization of debt discount and expenses. See Tennessee Code 56-3-302
• Floor: means an agreement obligating the seller to make payments to the buyer in which each payment is based on the amount by which a predetermined number, sometimes called the floor rate or price, exceeds a reference price, level, performance or value of one (1) or more underlying interests. See Tennessee Code 56-3-302
• Foreign: when used without limitation, includes all companies formed by authority of any other state or government. See Tennessee Code 56-1-102
• Foreign jurisdiction: means :
  (A) A jurisdiction other than a domestic jurisdiction. See Tennessee Code 56-3-302
• Fraud: Intentional deception resulting in injury to another.
• Future: means an agreement, traded on a futures exchange, to make or take delivery of, or effect a cash settlement based on the actual or expected price, level, performance or value of, one (1) or more underlying interests. See Tennessee Code 56-3-302
• Futures exchange: means a foreign or domestic exchange, contract market or board of trade on which trading in futures is conducted and, in the United States, that has been authorized for such trading by the commodities futures trading commission or any successor of the commodities futures trading commission. See Tennessee Code 56-3-302
• Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
• gross premiums: means maximum gross premiums as provided in the policy contracts, new and renewal, including policy or membership fees, whether paid in part or in whole by cash, automatic premium loans, dividends applied in any manner whatsoever, and without deduction or exclusion of dividends in any manner. See Tennessee Code 56-4-204
• Gross profits or income: as used in this part , means gross income from all sources, except as provided in subsection (b), including income on tax exempt securities, loans, dividends and interest on stocks, bonds or other investments, plus net rentals on real estate, less the net amount of tax paid by the investment company on its tangible assets wherever located. See Tennessee Code 56-4-305
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Hedging transaction: means a derivative transaction that is entered into and maintained to manage:
  (A) The risk of a change in the value, yield, price, cash flow or quantity of assets or liabilities, or a portfolio of assets and/or liabilities, that the insurer has acquired or incurred or anticipates acquiring or incurring. See Tennessee Code 56-3-302
• highly rated: means an investment rated "P-1" by Moody's Investors Service, Inc. See Tennessee Code 56-3-302
• Home state: means any state or territory of the United States and the District of Columbia in which an insurance producer maintains a principal place of residence or principal place of business and is licensed to act as an insurance producer. See Tennessee Code 56-6-102
• Hospital: means a public or private hospital or facility or part of a hospital or facility equipped to provide inpatient care and treatment for persons with mental illness or serious emotional disturbance. See Tennessee Code 33-1-101
• Hybrid plan: means a plan that provides a combination of a defined benefit plan and a defined contribution plan which, together, are intended to comply with the provisions of the Internal Revenue Code (26 U. See Tennessee Code 8-36-902
• Income generation transaction: means a derivative transaction which is entered into to generate income. See Tennessee Code 56-3-302
• Institution: includes a corporation, a joint-stock association and a business trust. See Tennessee Code 56-3-401
• Insurance: means any of the lines of authority in §. See Tennessee Code 56-6-102
• insurance company: means any insurance, fidelity or surety company, including any corporation, company, partnership, association, society, order, fraternal or otherwise, individual or aggregation of individuals engaging in, or proposing or attempting to engage in, any kind of insurance or surety business, including the exchanging of reciprocal or interinsurance contracts between individuals, partnerships and corporations. See Tennessee Code 56-4-201
• Insurance producer: means a person required to be licensed under the laws of this state to sell, solicit or negotiate insurance. See Tennessee Code 56-6-102
• Insurance score: means a number or rating that is derived from an algorithm, computer application, model, or other process that is based in whole or in part on credit information for the purposes of predicting the future insurance loss exposure of an individual applicant or insured. See Tennessee Code 56-5-201
• Insurer: means any insurance company authorized to transact insurance business in this state. See Tennessee Code 56-6-102
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Investment practices: means transactions of the types described in §. See Tennessee Code 56-3-302
• Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
• Joint underwriting: means a voluntary arrangement established on an ad hoc basis to provide insurance coverage for a commercial risk pursuant to which two (2) or more insurers separately contract with the insured at a price and under policy terms agreed upon between the insurers. See Tennessee Code 56-5-102
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• License: means an authorization to a person to provide ambulance services. See Tennessee Code 68-140-302
• License: means a document issued by this state's commissioner authorizing a person to act as an insurance producer for the lines of authority specified in the document. See Tennessee Code 56-6-102
• Lien: A claim against real or personal property in satisfaction of a debt.
• Limited line credit insurance: includes credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, guaranteed automobile protection (gap) insurance, and any other form of insurance offered in connection with an extension of credit that is limited to partially or wholly extinguishing that credit obligation that the commissioner determines should be designated a form of limited line credit insurance. See Tennessee Code 56-6-102
• Limited lines insurance: means those lines of insurance defined in §. See Tennessee Code 56-6-102
• Limited lines producer: means a person authorized by the commissioner to sell, solicit or negotiate limited lines insurance. See Tennessee Code 56-6-102
• Livestock: means all equine as well as animals that are being raised primarily for use as food or fiber for human utilization or consumption including, but not limited to, cattle, sheep, swine, goats, and poultry. See Tennessee Code 1-3-105
• Market value: means the price for the security or derivative instrument obtained from a generally recognized source or the most recent quotation from the source or, to the extent no generally recognized source exists, the price for the security or derivative instrument as determined pursuant to the terms of the instrument or in good faith by the insurer as can be reasonably demonstrated to the commissioner upon request, plus accrued but unpaid income on the security or derivative instrument to the extent not included in the price as of the date. See Tennessee Code 56-3-302
• Medical capability: means that a state-owned or operated hospital or treatment resource has the ability to treat an individual's medical needs onsite or that the individual's medical needs do not exceed the onsite capability of the state-owned or operated hospital or treatment resource to treat. See Tennessee Code 33-1-101
• Medical direction: means the supervision by a physician licensed to practice in the state of Tennessee of all medical aspects of patient care within EMS. See Tennessee Code 68-140-302
• Member: means any person included in the membership of the retirement system, as provided in chapter 35, part 1 of this title. See Tennessee Code 8-34-101
• Membership service: means service rendered while a member of the retirement system. See Tennessee Code 8-34-101
• Mental illness: means a psychiatric disorder, alcohol dependence, or drug dependence, but does not include intellectual disability or other developmental disabilities as defined in title 52. See Tennessee Code 33-1-101
• Month: means a calendar month. See Tennessee Code 1-3-105
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Multiplier: means a workers' compensation insurance company's determination of the profits and expenses, other than loss expense and loss adjustment expense, all other applicable rating factors, including, but not limited to, schedule rating, experience rating and small deductible credits, and deviation from advisory prospective loss costs associated with writing workers' compensation insurance, which shall be expressed as a single multiplicative factor to be applied equally and uniformly to the advisory prospective loss costs approved by the commissioner in making rates for all classification of risks utilized by the company. See Tennessee Code 56-5-102
• NAIC: means the National Association of Insurance Commissioners. See Tennessee Code 56-6-102
• NAIC: means the National Association of Insurance Commissioners. See Tennessee Code 56-3-302
• NAIC-SVO: means the securities valuation office of the National Association of Insurance Commissioners. See Tennessee Code 56-3-302
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Negotiate: means the act of conferring directly with or offering advice directly to a purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms or conditions of the contract. See Tennessee Code 56-6-102
• Net earnings available for fixed charges: means net income determined on either a consolidated or an unconsolidated basis after allowance for operating and maintenance expenses, depreciation and depletion, and taxes, other than federal and state income taxes, but excluding extraordinary nonrecurring items of income or expense appearing in the regular financial statements of the issuing, assuming or guaranteeing business entity. See Tennessee Code 56-3-302
• Oath: includes affirmation. See Tennessee Code 1-3-105
• Oath: A promise to tell the truth.
• Obligation: means a note, bond, debenture, trust certificate, equipment trust certificate, production payment, negotiable bank certificate of deposit, bankers' acceptance, asset-backed security, NAIC-SVO credit tenant loan, loan secured by financing a net lease or net leases, and other evidence of indebtedness for the payment of money, or participations, certificates or other evidences of an interest in any of the obligations listed in this subdivision (29), whether constituting a general obligation of the issuer or payable only out of certain revenues or certain funds pledged or otherwise dedicated for payment. See Tennessee Code 56-3-302
• Option: means an agreement giving the buyer the right to buy or receive, known as a "call option" sell or deliver, known as a "put option" enter into, extend or terminate or effect a cash settlement based on the actual or expected price, spread, level, performance or value of one (1) or more underlying interests. See Tennessee Code 56-3-302
• Over-the-counter derivative instrument: means a derivative instrument entered into with a business entity, other than through a securities exchange, futures exchange, or cleared through a qualified clearinghouse. See Tennessee Code 56-3-302
• Participant: means any state employee, teacher, or political subdivision employee participating in the hybrid plan. See Tennessee Code 8-36-902
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Patient: means an individual who, as a result of physical or mental condition, needs medical attention. See Tennessee Code 68-140-302
• Permit: means an authorization issued for an ambulance vehicle as meeting the standards adopted pursuant to this part. See Tennessee Code 68-140-302
• Person: means any individual, association, organization or any other business entity, either profit or nonprofit, any state or local governmental entity, and federal agencies to the extent permitted by federal law. See Tennessee Code 68-140-302
• Person: means an individual or a business entity. See Tennessee Code 56-6-102
• Person: means any association, aggregate of individuals, business, company, corporation, individual, joint-stock company, Lloyds-type organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Tennessee Code 56-16-102
• Person: means an individual, a business entity, a multilateral development bank or a government or quasi-governmental body, such as a political subdivision or a government sponsored enterprise. See Tennessee Code 56-3-302
• Personal property: includes money, goods, chattels, things in action, and evidences of debt. See Tennessee Code 1-3-105
• Personal property: All property that is not real property.
• Personal representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
• Personal risk insurance: means property and casualty insurance that provides:
  (A) Insurance on one (1) to four (4) family dwelling units, including mobile homes. See Tennessee Code 56-5-102
• Political subdivision: means any entity authorized to participate in the retirement system pursuant to chapter 35, part 2 of this title. See Tennessee Code 8-36-902
• Pool: means a voluntary arrangement other than a residual market mechanism, established on an ongoing basis, pursuant to which two (2) or more insurers participate in the sharing of risks on a predetermined basis. See Tennessee Code 56-5-102
• Potential exposure: means :
  (A) As to a futures position, the amount of initial margin required for that position. See Tennessee Code 56-3-302
• Practice: means the exercise of principles and skills for effective emergency medical care under medical direction recognized as acts and responsibilities within the discipline of emergency medical services. See Tennessee Code 68-140-302
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Preferred dividend requirements: means dividends at the maximum prescribed rate on all preferred stock of the same class as that being acquired by the insurance company and on all stock ranking as to dividends on a parity with the dividends or prior to the dividends, whether or not the dividends are cumulative. See Tennessee Code 56-3-401
• Preferred dividend requirements: means dividends at the maximum prescribed rate on all preferred stock of the same class as that being acquired by the insurance company and on all stock ranking as to dividends on a parity with the dividends or prior to the dividends, whether or not the dividends are cumulative. See Tennessee Code 56-3-302
• Prior service: means service rendered prior to the date of membership in the retirement system for which credit was given under the terms of one (1) or more of the superseded systems as provided in part 6 of this chapter. See Tennessee Code 8-34-101
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• production credit association: means a corporation organized and chartered pursuant to §. See Tennessee Code 56-4-401
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Qualified clearinghouse: means a clearinghouse subject to the rules of a securities exchange or a futures exchange that provides clearing services, including acting as a counterparty to each of the parties to a transaction such that the parties no longer have credit risk to each other. See Tennessee Code 56-3-302
• Qualified primary credit source: means the credit source to which an insurer looks for payment as to an investment and against which an insurer has a direct claim for full and timely payment, evidenced by a contractual right for which an enforcement action can be brought in a domestic jurisdiction. See Tennessee Code 56-3-302
• Rate: includes advisory prospective loss costs. See Tennessee Code 56-5-102
• Rate service organization: means any person or organization that assists insurers in ratemaking or filing as authorized by §. See Tennessee Code 56-5-102
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• real property: include lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Tennessee Code 1-3-105
• Reciprocal: means the aggregation of subscribers under a common name. See Tennessee Code 56-16-102
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Replication transaction: means a derivative transaction or combination of derivative transactions effected either separately or in conjunction with cash market investments included in the insurer's investment portfolio in order to replicate the risks and returns of another authorized transaction, investment or instrument and/or operate as a substitute for cash market transactions. See Tennessee Code 56-3-302
• Repurchase transaction: means a transaction in which an insurer purchases securities from a business entity that is obligated to repurchase the purchased securities or equivalent securities from the insurer at a specified price, either within a specified period of time or upon demand. See Tennessee Code 56-3-302
• Residual market mechanism: means an arrangement, either voluntary or mandated by law, involving participation by insurers in the equitable apportionment among them of insurance that may be afforded applicants who are unable to obtain insurance through ordinary methods. See Tennessee Code 56-5-102
• Responsible relative: means the parent of an unemancipated child with mental illness, serious emotional disturbance, alcohol dependence, or drug dependence who is receiving service in programs of the department or any relative who accepts financial responsibility for the care and service of a service recipient. See Tennessee Code 33-1-101
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Retirement: means withdrawal from membership with a retirement allowance granted under chapters 34-37 of this title. See Tennessee Code 8-34-101
• Retirement system: means the Tennessee consolidated retirement system as defined in §. See Tennessee Code 8-34-101
• Securities: means instruments as defined in §. See Tennessee Code 56-3-902
• Securities exchange: means :
  (A) An exchange registered as a national securities exchange or a securities market registered under the Securities Exchange Act of 1934 (15 U. See Tennessee Code 56-3-302
• Securities lending transaction: means a transaction in which securities are loaned by an insurer to a business entity that is obligated to return the loaned securities or equivalent securities to the insurer, either within a specified period of time or upon demand. See Tennessee Code 56-3-302
• Sell: means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurance company. See Tennessee Code 56-6-102
• Serious emotional disturbance: means a condition in a child who currently or at any time during the past year has had a diagnosable mental, behavioral, or emotional disorder of sufficient duration to meet psychiatric diagnostic criteria that results in functional impairment that substantially interferes with or limits the child's role or functioning in family, school, or community activities and includes any mental disorder, regardless of whether it is of biological etiology. See Tennessee Code 33-1-101
• Service: means the provision of organized response by ambulances or emergency response vehicles, or the provision of emergency care on an organized basis. See Tennessee Code 68-140-302
• Service: means service as a general employee, a teacher, a state police officer, a wildlife officer, a firefighter, a police officer, a state judge, a county judge, an attorney general, a commissioner or a county official which is paid for by an employer, and also includes service for which a former member of the general assembly is entitled to under former §. See Tennessee Code 8-34-101
• Service of process: The service of writs or summonses to the appropriate party.
• Service recipient: means a person who is receiving service, has applied for service, or for whom someone has applied for or proposed service because the person has mental illness or serious emotional disturbance. See Tennessee Code 33-1-101
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Shell business entity: means a business entity having no economic substance, except as a vehicle for owning interests in assets issued, owned or previously owned by a person domiciled in a foreign jurisdiction. See Tennessee Code 56-3-302
• Solicit: means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular company. See Tennessee Code 56-6-102
• State: includes the several states, the District of Columbia, the Commonwealth of Puerto Rico and the possessions of the United States. See Tennessee Code 56-3-401
• State: means the state of Tennessee. See Tennessee Code 68-140-302
• State: means the state of Tennessee. See Tennessee Code 8-34-101
• State: includes the several states, the District of Columbia, the Commonwealth of Puerto Rico and the possessions of the United States. See Tennessee Code 56-3-302
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Supplementary rate information: includes any manual or plan of rates, classification, rating schedule, minimum premium, policy fee, rating rule, loss adjustment expense, including defense costs incurred for any reason under the policy, and any other similar information needed to determine the applicable rate in effect or to be in effect. See Tennessee Code 56-5-102
• Support: means any activity or resource that enables a service recipient to participate in a service for mental illness or serious emotional disturbance or in community life. See Tennessee Code 33-1-101
• Supporting information: means :
  (A) The experience and judgment of the filer and the experience or data of other insurers or organizations relied upon by the filer. See Tennessee Code 56-5-102
• Surplus lines producer: means a person authorized by the commissioner to sell, solicit or negotiate surplus lines insurance pursuant to the Surplus Lines Insurance Act, compiled in chapter 14 of this title. See Tennessee Code 56-6-102
• SVO Rating: means the numerical ranking designation of one (1) through six (6) assigned to securities as determined by the NAIC-SVO. See Tennessee Code 56-3-302
• Swap: means an agreement to exchange or to net payments at one (1) or more times based on the actual or expected price, yield, level, performance or value of one (1) or more underlying interests. See Tennessee Code 56-3-302
• Swaption: means an option to purchase or sell a swap at a given price and time or at a series of prices and times. See Tennessee Code 56-3-302
• Teacher: has the meaning set forth in §. See Tennessee Code 8-36-902
• Tennessee securities: means real estate owned by an insurance company described in subdivision (b)(1) in this state. See Tennessee Code 56-4-210
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Treatment resource: means any public or private facility, service, or program providing treatment or rehabilitation services for mental illness or serious emotional disturbance, including, but not limited to, detoxification centers, hospitals, community mental health centers, clinics or programs, halfway houses, and rehabilitation centers. See Tennessee Code 33-1-101
• Underlying interest: means the assets, liabilities or other interests, or a combination of assets, liabilities or other interests, underlying a derivative instrument, such as any one (1) or more securities, currencies, rates, indices, commodities or derivative instruments. See Tennessee Code 56-3-302
• Uniform application: means the current version of the NAIC uniform application for resident and nonresident producer licensing. See Tennessee Code 56-6-102
• Uniform business entity application: means the current version of the NAIC uniform business entity application for resident and nonresident business entities. See Tennessee Code 56-6-102
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Warrant: means an instrument that gives the holder the right to purchase or sell the underlying interest at a given price and time or at a series of prices and times outlined in the warrant agreement. See Tennessee Code 56-3-302