Tennessee Code 68-212-402 – Indicia of ownership generally
Terms Used In Tennessee Code 68-212-402
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Facility: means :
(A) Any building, structure, installation, equipment, pipe or pipeline (including any pipe into a sewer or publicly owned treatment works), well, pit, pond, lagoon, impoundment, ditch, landfill, storage container, motor vehicle, rolling stock, or aircraft. See Tennessee Code 68-212-401 - Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Indicia of ownership: means evidence of a security interest, evidence of an interest in a security interest, or evidence of an interest in real or personal property securing a loan or other obligation, including any legal or equitable title to real or personal property acquired incident to foreclosure and its equivalents. See Tennessee Code 68-212-401
- participate in the management: means actual participation in the management or operational affairs by the holder of the security interest and does not include the mere capacity, or ability to influence, or the unexercised right to control a site, vessel or facility operations. See Tennessee Code 68-212-401
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Primarily to protect a security interest: means that the holder's indicia of ownership are held primarily for the purpose of securing payment or performance of an obligation, but does not include indicia of ownership held primarily for investment purposes, nor ownership indicia held primarily for purposes other than as a protection of a security interest. See Tennessee Code 68-212-401
- Vessel: means every description of watercraft or other artificial contrivance used, or capable of being used, as a means of transportation on water. See Tennessee Code 68-212-401
A person who maintains indicia of ownership of a site, vessel or facility primarily to protect a security interest in a site, vessel or facility, and who does not participate in the management of the site, vessel or facility and is not an owner or operator of the site, vessel or facility shall not be deemed the discharger or responsible party for a discharge from the site, vessel or facility and shall not be liable for cleanup costs or damages resulting from discharge from the site, vessel or facility pursuant to this chapter, except to the extent that liability may still apply to holders after foreclosure as set forth in § 68-212-403. The plaintiff or petitioner bears the burden of establishing that the defendant or respondent is liable as an owner or operator.