Terms Used In Tennessee Code 45-17-118

  • 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
  • Licensee: means a person licensed to provide deferred presentment services pursuant to this chapter. See Tennessee Code 45-17-102
  • Statute: A law passed by a legislature.

The business of deferred presentment services conducted in accordance with this chapter shall not be subject to or controlled by any other statute governing the imposition of interest, fees or loan charges, including but not limited to, § 47-14-104. A licensee shall not have the powers enumerated in this chapter without first complying with the law regulating the particular transaction involved, but licensees legally exercising any of the powers set forth in this chapter shall not be deemed in violation of §§ 47-9-610, 47-14-112, 47-14-115 and 47-14-117.

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