It is unlawful for any person, firm, corporation or corporation for profit to:

(1) Solicit funds for the operation of any plan, except as provided in this part; or

Terms Used In Tennessee Code 49-4-104

  • Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 49-4-101
  • 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.
  • Corporation: means a corporation or association not for profit authorized to administer a plan in the state. See Tennessee Code 49-4-101
  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
  • Plan: means any educational cooperative plan or scholarship plan subject to this part. See Tennessee Code 49-4-101
(2) Advertise any plan prior to the approval of the advertisement by the commissioner, to prevent material misrepresentation of law or fact with regard to the plan.
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