As used in this chapter:

(1) “Energy sector of Iran” means activities to develop petroleum or natural gas resources or nuclear power in Iran;

Terms Used In Tennessee Code 12-12-103

  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Iran: includes the government of Iran and any agency or instrumentality of Iran. See Tennessee Code 12-12-103
  • 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.
  • Person: means any of the following:
    (A) A natural person, corporation, company, limited liability company, business association, partnership, society, trust, or any other nongovernmental entity, organization, or group. See Tennessee Code 12-12-103
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(2) “Financial institution” means the term as used in Section 14 of the Iran and Libya Sanctions Act of 1996 (Public Law 104 – 172; 50 U.S.C. § 1701 note);
(3) “Investment” means a commitment or contribution of funds or property, whatever the source, a loan or other extension of credit, and the entry into or renewal of a contract for goods or services. “Investment” does not include indirect beneficial ownership through index funds, commingled funds, limited partnerships, derivative instruments, or the like;
(4) “Iran” includes the government of Iran and any agency or instrumentality of Iran;
(5) “Person” means any of the following:

(A) A natural person, corporation, company, limited liability company, business association, partnership, society, trust, or any other nongovernmental entity, organization, or group;
(B) Any governmental entity or instrumentality of a government, including a multilateral development institution, as defined in Section 1701(c)(3) of the International Financial Institutions Act (22 U.S.C. § 262r(c)(3)) ; or
(C) Any successor, subunit, parent entity, or subsidiary of, or any entity under common ownership or control with, any entity described in subdivisions (5)(A) and (B); and
(6) “State agency” means each state board, commission, department, executive department or office, institution, and instrumentality.
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