Tennessee Code 45-7-118 – Authorized agent contracts
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Licensees desiring to conduct licensed activities through authorized agents shall authorize each agent to operate pursuant to an express written contract, which shall, at a minimum, provide the following:
Terms Used In Tennessee Code 45-7-118
- Authorized agent: means an entity designated by the licensee under this chapter to sell or issue payment instruments or engage in the business of transmitting money on behalf of a licensee. See Tennessee Code 45-7-103
- Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-7-103
- Contract: A legal written agreement that becomes binding when signed.
- Licensee: means a person licensed under this chapter. See Tennessee Code 45-7-103
- Person: means any individual, partnership, association, joint-stock association, trust or corporation. See Tennessee Code 45-7-103
- 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
- written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105