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

(1) “Check” means any payment instrument, including any customer authorization for electronic payment;

Terms Used In Tennessee Code 45-17-102

  • Check: means any payment instrument, including any customer authorization for electronic payment. See Tennessee Code 45-17-102
  • Commissioner: means the commissioner of financial institutions or the commissioner's designated representative. See Tennessee Code 45-17-102
  • 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.
  • Deferred presentment services: means a transaction pursuant to a written agreement involving the following combination of activities in exchange for a fee:
    (A) Accepting a check dated on the date it was written. See Tennessee Code 45-17-102
  • Department: means the department of financial institutions. See Tennessee Code 45-17-102
  • Deposit: means a deposit of money, bonds or other things of value, creating a debtor-creditor relationship. See Tennessee Code 45-1-103
  • 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 an individual, group of individuals, partnership, association, corporation, or any other business unit or legal entity. See Tennessee Code 45-17-102
  • 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
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(2) “Commissioner” means the commissioner of financial institutions or the commissioner’s designated representative;
(3) “Deferred presentment services” means a transaction pursuant to a written agreement involving the following combination of activities in exchange for a fee:

(A) Accepting a check dated on the date it was written; and
(B) Holding the check for a period of time prior to presentment for payment or deposit;
(4) “Department” means the department of financial institutions;
(5) “Licensee” means a person licensed to provide deferred presentment services pursuant to this chapter;
(6) “Payment instrument”:

(A) Means a check, draft, warrant, money order, traveler’s check or other instrument for payment of money, whether or not negotiable, and also includes any authorization for electronic payment of money; and
(B) Does not include an instrument that is redeemable by the issuer in merchandise or service, a credit card voucher, or a letter of credit; and
(7) “Person” means an individual, group of individuals, partnership, association, corporation, or any other business unit or legal entity.
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