As used in this chapter, the following definitions shall have the meanings set out unless the context clearly indicates otherwise:

(1) “Association” means any corporation organized under this chapter. Associations organized hereunder shall be deemed “nonprofit,” inasmuch as they are not organized to make profit for themselves, as such, or for their members, as such, but only for their members as producers;

Terms Used In Tennessee Code 59-13-103

  • Association: means any corporation organized under this chapter. See Tennessee Code 59-13-103
  • Coal: means coal and all of its derivatives. See Tennessee Code 59-13-103
  • 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.
  • 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.
(2) “Coal” means coal and all of its derivatives;
(3) “Member” means actual members of associations without capital stock, and holders of common stock in associations organized with capital stock; and
(4) “Person” means any individual, firm, partnership, corporation, and association.
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