Terms Used In Tennessee Code > Title 13 > Chapter 23 - Housing Development Agency

• Acquisition of a branch: means the acquisition of all or substantially all of the assets other than loans, cash or securities and the assumption of all or substantially all of the liabilities of or related to a branch that has been open and engaged in the business of banking for at least three (3) continuous years without the acquisition of the entire bank. See Tennessee Code 45-2-1402
• acting as a fiduciary: means to act in the capacity of a fiduciary as defined in §. See Tennessee Code 45-1-103
• acting as a fiduciary: means to act in the capacity of a fiduciary as defined in §. See Tennessee Code 45-1-103
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Affiliate: means any company that controls, is controlled by, or is under common control with another company. See Tennessee Code 45-2-1402
• Agency: means the Tennessee housing development agency created by this part. See Tennessee Code 13-23-103
• Agent: means any person duly authorized in writing by a lessee to enter a safe deposit box rented by the lessee, whether the person be denominated as "agent" "deputy" "attorney-in-fact" or otherwise. See Tennessee Code 45-2-901
• Agriculture: means :
  (i) The land, buildings and machinery used in the commercial production of farm products and nursery stock. See Tennessee Code 1-3-105
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Amortization: Paying off a loan by regular installments.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• articles of organization: means in the case of an LLC organized under chapters 201-248 of this title, articles of organization, articles of amendment, articles of correction, certificates of merger, and all similar documents required to be filed with any of the foregoing as part of the formation and continuation of an LLC. See Tennessee Code 48-202-101
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Association: means a capital stock or mutual savings and loan association. See Tennessee Code 45-3-104
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Bank: means any person, as hereinafter defined, doing a banking business subject to the laws of this or any other jurisdiction and, for the purposes of supervision, examination and liquidation, includes industrial investment companies and industrial banks authorized by chapter 5 of this title. See Tennessee Code 45-1-103
• Bank: means a state or a national bank. See Tennessee Code 45-2-1301
• Bank: has the meaning stated in §. See Tennessee Code 45-2-1402
• Bank: means a credit card state bank established and operated in accordance with §. See Tennessee Code 45-2-1903
• Bank: means any person, as hereinafter defined, doing a banking business subject to the laws of this or any other jurisdiction and, for the purposes of supervision, examination and liquidation, includes industrial investment companies and industrial banks authorized by chapter 5 of this title. See Tennessee Code 45-1-103
• Bank holding company: has the meaning set forth in §. See Tennessee Code 45-2-1402
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• board of directors: means the governing board of a corporation, whether denominated the board of directors or otherwise, except that no person or group of persons is the board of directors because of powers delegated to that person or group pursuant to §. See Tennessee Code 48-51-201
• Bovine activity: means any activity involving one (1) or more bovine, including, but not limited to:
  (A) Grazing, herding, feeding, branding, milking or any other activity that involves the care or maintenance of bovine. See Tennessee Code 44-21-101
• Bovine owner: means any person with ownership rights to bovine. See Tennessee Code 44-21-101
• Branch: means a branch as defined in §. See Tennessee Code 45-2-1402
• Branch office: means an office or facility, other than the home office, at which payments on accounts and loans may be accepted and applications for loans may be received, at which accounts may be opened, and loans may be closed, and at which any other authorized business of the association may be transacted. See Tennessee Code 45-3-104
• Capital stock association: means an association, the ownership of which rests in the holders of shares of capital stock, who may receive dividends on their shares, and who have the sole right to vote on matters affecting the association. See Tennessee Code 45-3-104
• Cardholder: includes borrowers and other primary obligors on loans. See Tennessee Code 45-2-1903
• Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
• Collateral kinship: means a relationship that is not lineal, but stems from a common ancestor. See Tennessee Code 45-2-2001
• Commercial activities: means any activities in which a bank holding company, financial holding company, a national bank, or a national bank subsidiary, may not engage under federal law. See Tennessee Code 45-2-1402
• Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-1-103
• Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-3-104
• Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-1-103
• Commissioner: means the commissioner of agriculture. See Tennessee Code 44-19-103
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Community: means a city, town, or incorporated village in this state, or where not within any of the foregoing, a trade area in this state. See Tennessee Code 45-1-103
• Company: includes a bank, trust company, corporation, partnership, association, business or other trust, or similar business entity. See Tennessee Code 45-1-103
• Company: has the meaning set forth in §. See Tennessee Code 45-2-1402
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Continuance: Putting off of a hearing ot trial until a later time.
• Continuing bank: means a merging bank the charter of which becomes the charter of the resulting bank. See Tennessee Code 45-2-1301
• Contract: A legal written agreement that becomes binding when signed.
• Control: has the meaning set forth in §. See Tennessee Code 45-2-1402
• Control: has the meaning set forth in 12 U. See Tennessee Code 45-2-1901
• Converting bank: means a bank converting from a state to a national bank, or the reverse. See Tennessee Code 45-2-1301
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Counterclaim: A claim that a defendant makes against a plaintiff.
• credit card plan: means any account that can be accessed by a credit card, including a debit card with a credit feature, whereby the cardholder may obtain loans from time to time either by credit card cash advance or by the purchase or satisfaction by the bank of obligations of the cardholder incurred pursuant to a credit card. See Tennessee Code 45-2-1903
• Credit card state bank: means a state bank chartered under the laws of Tennessee and whose principal office is in this state and the activities of which are limited to those permitted under §. See Tennessee Code 45-2-1901
• Dairy farm: means any place or premises where one (1) or more cows are kept and from which a part or all of the milk or milk products is provided, sold or offered for sale to a milk plant, transfer station or receiving station. See Tennessee Code 44-18-101
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• De novo acquisition: means acquisition of shares of a bank prior to the time it is authorized to commence operations. See Tennessee Code 45-2-1402
• De novo branch: means a branch of a bank that:
  (A) Is originally established by the bank as a branch. See Tennessee Code 45-2-1402
• dealer: means any person, including any distributor, processor, bulk handler, or operator of a store, who purchases or receives on consignment or otherwise, milk or milk products of every kind and description, within the state, for sale, shipment, storage, processing or manufacture. See Tennessee Code 44-19-103
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Department: means the department of financial institutions. See Tennessee Code 45-1-103
• Department: means the department of environment and conservation, and includes any officer, agency or designee of that department. See Tennessee Code 44-18-101
• Department: means the department of financial institutions. See Tennessee Code 45-1-103
• Department: means the department of agriculture. See Tennessee Code 44-19-103
• Deposit: means a deposit of money, bonds or other things of value, creating a debtor-creditor relationship. See Tennessee Code 45-1-103
• Deposit: means a deposit of money, bonds or other things of value, creating a debtor-creditor relationship. See Tennessee Code 45-1-103
• deposit account: means that part of the deposit liability of an association that is credited to the account of the holder. See Tennessee Code 45-3-104
• Deposit liability: means the aggregate amount of deposit accounts of depositors or members, including interest credited to the accounts, less redemptions and withdrawals. See Tennessee Code 45-3-104
• Depositor: means the holder of a deposit account in an association. See Tennessee Code 45-3-104
• Depository institution: means any company included for any purpose within any of the definitions of insured depository institution, as set forth in 12 U. See Tennessee Code 45-1-103
• Depository institution: means any company included for any purpose within any of the definitions of insured depository institution, as set forth in 12 U. See Tennessee Code 45-1-103
• Designated ancestor: means one (1) or more ancestors of the family designated as such in the application submitted under this part. See Tennessee Code 45-2-2001
• Directors: means natural persons, designated in the charter or bylaws or elected or appointed by the incorporators, and their successors and natural persons elected or appointed to act as members of the board, irrespective of the names or titles by which such persons are described. See Tennessee Code 48-51-201
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dissolution: means that the LLC has incurred an event under §. See Tennessee Code 48-202-101
• Domestic holding company: means a company or other affiliate, that either:
  (i) Controls a domestic or foreign lender and has its principal place of business in this state. See Tennessee Code 45-2-1901
• Domestic lender: means any bank, savings and loan association, savings bank, or credit union organized and supervised under the laws of this state or the United States, that has its principal place of business in this state or any other business organization that is authorized by law to accept deposits and make loans and has its principal place of business in this state. See Tennessee Code 45-2-1901
• Donor: The person who makes a gift.
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• Engages in an equine activity: means riding, training, assisting in medical treatment of, driving, or being a passenger upon an equine, whether mounted or unmounted or any person assisting a participant or show management. See Tennessee Code 44-20-102
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Entity: includes the following, whether foreign or domestic: LLCs. See Tennessee Code 48-202-101
• Equine: means a horse, pony, mule, donkey, or hinny. See Tennessee Code 44-20-102
• Equine activity: means :
  (A) Equine shows, fairs, competitions, performances, or parades that involve any or all breeds of equines and any of the equine disciplines, including, but not limited to, dressage, hunter and jumper horse shows, grand prix jumping, three-day events, combined training, rodeos, driving, pulling, cutting, polo, steeplechasing, English and western performance riding, endurance trail riding and western games, and hunting. See Tennessee Code 44-20-102
• Equine activity sponsor: means an individual, group, club, partnership, or corporation, whether or not the sponsor is operating for profit or nonprofit, that sponsors, organizes, or provides the facilities for an equine activity, including, but not limited to, pony clubs, 4-H clubs, hunt clubs, riding clubs, school and college-sponsored classes, programs and activities, therapeutic riding programs, and operators, instructors, and promoters of equine facilities, including, but not limited to, stables, clubhouses, ponyride strings, fairs, and arenas at which the activity is held. See Tennessee Code 44-20-102
• Equine professional: means a person engaged for compensation:
  (A) In instructing a participant or renting to a participant an equine for the purpose of riding, driving, or being a passenger upon the equine. See Tennessee Code 44-20-102
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Established date of operation: means the date on which a feedlot, dairy farm or poultry production house commenced operating. See Tennessee Code 44-18-101
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Executor: A male person named in a will to carry out the decedent
• Executor: includes an administrator, where the subject matter applies to an administrator. See Tennessee Code 1-3-105
• Family affiliate: means a company or other entity in which one (1) or more family members, directly or indirectly, through ownership of voting securities or equity, by contract, through power of direction, through beneficial or other ownership in one (1) or more other entities, or otherwise:
  (i) Owns a majority interest. See Tennessee Code 45-2-2001
• Family client: means :
  (i) A family member. See Tennessee Code 45-2-2001
• Family member: means a designated ancestor and:
  (i) An individual within the twelfth degree of lineal kinship of a designated ancestor. See Tennessee Code 45-2-2001
• Family services provider: means :
  (i) A full-time employee of the private trust company. See Tennessee Code 45-2-2001
• Federal association: means a savings and loan association operating under the laws and regulations of the United States. See Tennessee Code 45-3-104
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Federal Reserve Act: includes the act of congress of the United States approved December 23, 1913, as amended. See Tennessee Code 45-2-501
• Federal reserve bank: means the federal reserve banks created and organized under the authority of the Federal Reserve Act. See Tennessee Code 45-2-501
• Federal reserve board: means the federal reserve board, created and described in the Federal Reserve Act. See Tennessee Code 45-2-501
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Feedlot: means a lot, yard, corral or other area in which livestock are confined, primarily for the purposes of feeding, growing, raising, or birthing prior to slaughter. See Tennessee Code 44-18-101
• Fiduciary: A trustee, executor, or administrator.
• Fiduciary: means trustee, agent, executor, administrator, committee, guardian or conservator for a minor or other incompetent person, receiver, trustee in bankruptcy, assignee for creditors or any holders of a similar position of trust. See Tennessee Code 45-2-901
• Financial institution: means a thrift institution, commercial bank, or trust company. See Tennessee Code 45-3-104
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• 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}
• Foreign bank: means a foreign bank, as defined in the International Banking Act of 1978 §. See Tennessee Code 45-1-103
• Foreign bank: means a foreign bank, as defined in the International Banking Act of 1978 §. See Tennessee Code 45-1-103
• Foreign lender: means any bank, savings and loan association, savings bank, credit union, organized or chartered under the laws of the United States, or any state other than this state, or the District of Columbia, that has its principal place of business outside this state, or any other business organization that is authorized by law to accept deposits and make commercial loans and has its principal place of business outside this state. See Tennessee Code 45-2-1901
• Foster child: means an individual raised or being raised by someone who is not the individual's natural or adoptive parent. See Tennessee Code 45-2-2001
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Good faith: means honesty in fact in the conduct or transaction concerned. See Tennessee Code 45-1-103
• Good faith: means honesty in fact in the conduct or transaction concerned. See Tennessee Code 45-1-103
• Governmental agency: means any department, division, public agency, political subdivision or other public instrumentality of the state, the federal government, and other state or public agency, or any two (2) or more thereof. See Tennessee Code 13-23-103
• Grantor: The person who establishes a trust and places property into it.
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Holding company: means any company that controls a domestic or foreign lender. See Tennessee Code 45-2-1901
• Home: means a structure designed for residential use by not more than four (4) families or a single condominium unit, including common elements pertinent thereto, designed for residential use by one (1) family in a multiple dwelling unit structure or complex, and includes fixtures. See Tennessee Code 45-3-104
• Home office: means the principal place of business maintained by the association and so designated in its charter, at which all authorized business of the association may be transacted. See Tennessee Code 45-3-104
• Home state: means :
  (A) With respect to a national bank, the state in which the main office of the bank is located. See Tennessee Code 45-2-1402
• Home state: means :
  (A) With respect to a federally chartered trust institution and a foreign bank, the state in which the institution maintains its principal office. See Tennessee Code 45-1-103
• Home state regulator: means the bank supervisory agency with primary responsibility for chartering and supervising an out-of-state trust institution. See Tennessee Code 45-1-103
• Host state: means a state, other than the home state of a bank, in which the bank maintains or seeks to establish and maintain a branch. See Tennessee Code 45-2-1402
• Housing cost index: means an index of specific housing cost factors to the average Tennessee household calculated monthly or at such times as the agency may require, based on the following formula:

  The median gross monthly household income divided into the sum of:

  (A) The monthly mortgage payment for the average Tennessee household based on a thirty-year mortgage, at the prevailing mortgage interest rate on a mortgage amount sufficient to purchase a standard housing structure that will meet minimum property standards as established by the federal housing administration, including an amount representative of the average yield in discount points and servicing fees to the lender on such mortgage, based on the average discount paid at the latest Federal National Mortgage Association mortgage auction sale. See Tennessee Code 13-23-103
• Housing trust fund: means a fund consisting of appropriations, reserves or dedications of any revenues except pension or retirement funds by a participating unit or units of local government, together with private and foundation sources of funds, all used for providing low income persons with safe and affordable housing. See Tennessee Code 13-23-502
• Housing trust fund: means appropriations, reserves or dedications of any funds by the county. See Tennessee Code 7-8-102
• Immediate family: means an individual's spouse or former spouse, any descendant of that individual, and any relative living in the same residence as that individual. See Tennessee Code 45-2-2001
• Impaired condition: means a condition in which the assets of an association in the aggregate do not equal the aggregate amount of its liabilities. See Tennessee Code 45-3-104
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Inherent risks of bovine activities: means dangers or conditions that are an integral part of bovine activities, including, but not limited to:
  (A) The propensity of a bovine to behave in ways that may result in injury, loss, damage or death to persons on or around the bovine. See Tennessee Code 44-21-101
• Inherent risks of equine activities: means those dangers or conditions that are an integral part of equine activities, including, but not limited to:
  (A) The propensity of an equine to behave in ways that may result in injury, harm, or death to persons on or around them. See Tennessee Code 44-20-102
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insured construction loan: means a construction loan for land development or residential housing which is secured by a federally insured mortgage or which is insured or guaranteed by the United States or an instrumentality thereof, or for which there is a commitment by the United States or instrumentality thereof to insure or guarantee such a loan, or a construction loan which is secured by a policy of insurance or guarantee issued by any private mortgage insurer qualified to issue such insurance or guarantee in Tennessee and approved by the agency, or for which there is a commitment to insure or guarantee such loans made by any private mortgage insurer qualified to do business in Tennessee and approved by the agency, or a construction loan insured or guaranteed by an agency or instrumentality of the state authorized by law to issue such insurance or guarantee, or for which there is a commitment to insure or guarantee such loan made by such agency or instrumentality of the state. See Tennessee Code 13-23-103
• insured mortgage loan: means a mortgage loan for residential housing insured or guaranteed by the United States or any instrumentality thereof, or for which there is a commitment by the United States or instrumentality thereof to insure or guarantee such a mortgage, or a mortgage loan which is secured by a policy of insurance or guarantee issued by any private mortgage insurer qualified to issue such insurance or guarantee in Tennessee and approved by the agency, or for which there is a commitment to insure or guarantee such loan made by any private mortgage insurer qualified to do business in Tennessee and approved by the agency, or a mortgage loan insured or guaranteed by any agency or instrumentality of the state authorized by law to issue such insurance, or for which there is a commitment to insure or guarantee such loan made by such agency or instrumentality of the state. See Tennessee Code 13-23-103
• Inter vivos: Transfer of property from one living person to another living person.
• Interest: means that part of the net income, retained earnings, or surplus of an association that is payable to or credited to holders of deposit accounts. See Tennessee Code 45-3-104
• Interest date: means the effective date on which interest is payable to depositors on deposit accounts. See Tennessee Code 45-3-104
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Interim bank merger: means the technique by which a new bank charter is obtained solely for the purpose of merging an existing bank into the bank for which the charter is sought, or solely for the purpose of merging the bank for which the charter is sought into an existing bank. See Tennessee Code 45-2-1402
• Intestate: Dying without leaving a will.
• Item: means any instrument for the payment of money, even though not negotiable, but does not include money. See Tennessee Code 45-1-103
• Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Land development: means the process of acquiring land primarily for residential housing construction for persons and families of lower and moderate income and making, installing or constructing nonresidential housing improvements, including water, sewer and other utilities, roads, streets, curbs, gutters, sidewalks, storm drainage facilities and other installations or works, whether on or off the site, which the agency deems necessary or desirable to prepare such land primarily for residential housing construction within this state. See Tennessee Code 13-23-103
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Legatee: A beneficiary of a decedent
• Lessee: means a person contracting with a lessor for the use of a safe deposit box. See Tennessee Code 45-2-901
• Lessor: means a bank or subsidiary corporation of a bank renting safe deposit facilities, and includes a safe deposit company organized and operating under the jurisdiction of the department solely for the purpose of leasing safe deposit facilities. See Tennessee Code 45-2-901
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Lineal kinship: means the direct ancestors and descendants of an individual. See Tennessee Code 45-2-2001
• Liquid assets: means :
  (A) Cash on hand. See Tennessee Code 45-3-104
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Livestock: means all equine as well as animals that are being raised primarily for use as food or fiber for human utilization or consumption including, but not limited to, cattle, sheep, swine, goats, and poultry. See Tennessee Code 44-18-101
• LLC: means a limited liability company, whether foreign or domestic, that is formed under, that is subject to, or that has elected to be governed by, as applicable, the Tennessee Revised Limited Liability Company Act, compiled in chapter 249 of this title, except where expressly indicated otherwise. See Tennessee Code 48-101-802
• Loan: means any extension of credit, including, but not limited to, credit extended under plans or in transactions for which no credit card is issued, whether by way of installment, single payment, add-on, discount factoring, or otherwise for personal, consumer, agricultural or commercial purposes. See Tennessee Code 45-2-1903
• Loan fund pool: means appropriations by the state and any appropriations, reserves or dedications of any funds by any county which desires to participate in the homebuyers' revolving loan fund pool. See Tennessee Code 13-23-302
• Local portion: means funds appropriated, reserved or dedicated by any county to fund its respective local portion of the loan fund pool. See Tennessee Code 13-23-302
• Low income: means qualified persons or families who lack the amount of income which is necessary, as determined by the approved entity, to enable them without low interest financial assistance, to live in decent, safe and affordable dwellings without overcrowding. See Tennessee Code 13-23-502
• Low income persons: means qualified persons or families who lack the amount of income that is necessary, as determined by the agency, to enable them, without low interest financial assistance, to live in decent, safe and affordable dwellings without overcrowding. See Tennessee Code 7-8-102
• Materially affects: means prohibits or regulates with respect to the location, or the emission of noise, effluent, odors, sewage, waste or similar products resulting from the operation or the location or use of buildings, machinery, vehicles, equipment or other real or personal property used in the operation of a livestock feedlot, dairy farm or poultry production house. See Tennessee Code 44-18-101
• Member: means a person reflected in the required records of an LLC as the owner of some governance rights of a membership interest of the LLC. See Tennessee Code 48-202-101
• Member: means a person holding a deposit account of a mutual association. See Tennessee Code 45-3-104
• Membership: means the rights and obligations a member has pursuant to a corporation's charter, bylaws and chapters 51-68 of this title. See Tennessee Code 48-51-201
• Merger: includes consolidation. See Tennessee Code 45-2-1301
• Merging bank: means a party to a merger. See Tennessee Code 45-2-1301
• Milk: means milk from cows and all of its natural components, sweet cream, sour cream, skim milk, flavored milk, buttermilk, condensed or concentrated, whole, low fat, or skim milk for use in milk products of every kind and description. See Tennessee Code 44-19-103
• Minor: means any person who has not attained eighteen (18) years of age. See Tennessee Code 1-3-105
• Month: means a calendar month. See Tennessee Code 1-3-105
• Mortgage: includes deeds of trust, mortgages, building and loan contracts or other instruments conveying real or personal property as security for bonds and conferring a right to foreclose and cause a sale thereof. See Tennessee Code 13-23-103
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Mutual association: means an association, the ownership of which rests in members, who receive interest on their deposit accounts, and who have the sole right to vote on all matters affecting the association. See Tennessee Code 45-3-104
• National bank: means a national banking association located in this state. See Tennessee Code 45-2-1301
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Net income: means gross revenues for an accounting period, less all interest and expenses paid or incurred, taxes, and losses sustained that have not been charged to any reserve accounts. See Tennessee Code 45-3-104
• Net worth: means the aggregate of all loan contracts of an association, plus the aggregate value of all other assets of the association, less the aggregate amount of deposit accounts of depositors, including interest credited to the accounts, and less any other liabilities of the association. See Tennessee Code 45-3-104
• New trust office: means a trust office located in a host state that:
  (A) Is originally established by the trust institution as a trust office. See Tennessee Code 45-1-103
• Nonprofit corporation: means a nonprofit corporation, whether foreign or domestic, incorporated pursuant to or subject to chapters 51-68 of this title and exempt from franchise and excise tax as not-for-profit as defined in §. See Tennessee Code 48-101-802
• notes: means the bonds and notes respectively authorized to be issued by the agency under this chapter. See Tennessee Code 13-23-103
• Nuisance: means and includes public or private nuisance as defined either by statute or by the common law. See Tennessee Code 44-18-101
• Nuisance action or proceeding: means and includes every action, claim or proceeding, whether brought at law, in equity or as an administrative proceeding, that is based on nuisance. See Tennessee Code 44-18-101
• Oath: includes affirmation. See Tennessee Code 1-3-105
• Oath: A promise to tell the truth.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Obligations: means any bonds or notes authorized to be issued by the agency under this part. See Tennessee Code 13-23-103
• operating: means that:
  (A) A charter has been issued to a bank by the United States comptroller of the currency or a certificate of authority has been issued by the commissioner. See Tennessee Code 45-1-103
• operating: means that:
  (A) A charter has been issued to a bank by the United States comptroller of the currency or a certificate of authority has been issued by the commissioner. See Tennessee Code 45-1-103
• Oversight: Committee review of the activities of a Federal agency or program.
• Ownership interests: means membership interests in the case of an LLC, shares in the case of a corporation, partnership interests in the case of general or limited partnerships and the equivalent with respect to other entities. See Tennessee Code 48-202-101
• Parent nonprofit corporation: means a nonprofit corporation that is the sole member of a nonprofit corporation. See Tennessee Code 48-101-802
• Participant: means any person, whether amateur or professional, who engages in an equine activity, whether or not a fee is paid to participate in the equine activity. See Tennessee Code 44-20-102
• 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.
• Person: means an individual, corporation, firm, trust, estate, partnership, joint venture, or association. See Tennessee Code 45-1-103
• Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
• Person: means an individual, firm, partnership, joint venture, trust, estate, unincorporated association, company, or corporation organized under the laws of this or any other state, the United States or foreign country. See Tennessee Code 45-3-104
• Person: means any individual, corporation, partnership, association, cooperative or other business entity. See Tennessee Code 44-19-103
• Person: means an individual, corporation, firm, trust, estate, partnership, joint venture, or association. See Tennessee Code 45-1-103
• Person: means an individual, corporation or any other legal entity. See Tennessee Code 44-21-101
• Personal property: includes money, goods, chattels, things in action, and evidences of debt. See Tennessee Code 1-3-105
• Personal property: All property that is not real property.
• Personal representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
• Persons and families of lower and moderate income: means persons and families irrespective of race, creed, national origin, age or sex deemed by the agency to require such assistance as is made available by this chapter on account of insufficient personal or family income based upon the income limits established by the board of directors. See Tennessee Code 13-23-103
• Poultry production house: means any place or premises where chickens are kept for the production of eggs or broilers for resale to processors, wholesalers or retailers. See Tennessee Code 44-18-101
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Principal office: means the office (in or out of this state) so designated in the annual report where the principal executive offices of a domestic or foreign corporation are located. See Tennessee Code 48-11-201
• Private trust company: means a company that is a private trust company as set forth in §. See Tennessee Code 45-1-103 v2
• Private trust company: means a company that is a private trust company as set forth in §. See Tennessee Code 45-1-103 v2
• Probate: Proving a will
• Probate court: means the court having jurisdiction over the administration of the estates of decedents. See Tennessee Code 1-3-105
• Proceeding: includes civil suit and criminal, administrative, and investigatory action. See Tennessee Code 48-202-101
• Processor: means any person engaged in the business of processing milk and other materials into milk products of every kind and description. See Tennessee Code 44-19-103
• Producer: means every person in the state of Tennessee who produces milk or cream from cows and thereafter causes the same to be marketed as milk, cream or other milk and dairy products who has been issued and possesses a valid current producer's permit or certification, issued by the department. See Tennessee Code 44-19-103
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Public trust company: means a state trust company that is not a private trust company. See Tennessee Code 45-1-103 v2
• Public trust company: means a state trust company that is not a private trust company. See Tennessee Code 45-1-103 v2
• Purchaser: means any handler, dealer or processor who purchases or receives milk and milk products from producers on a commercial basis. See Tennessee Code 44-19-103
• qualified lender: means any bank or trust company, federally approved mortgagee, insurance company, mortgage banking institution, federally insured savings and loan association or insured state building and loan association, which is located and authorized to do business in the state, and which is approved by the agency, or the federal national mortgage association. See Tennessee Code 13-23-103
• Qualifying matching share: means funds from any source, other than funds appropriated, reserved or dedicated by the state or any county to specifically fund the state or any local portion, which are used to fund the amount of any loan not funded by the loan fund pool. See Tennessee Code 13-23-302
• Qualifying organization: means a corporation, partnership, or other entity that at all times maintains an office in this state, at which it employs at least one hundred (100) persons residing in this state, and that is directly engaged in providing the following services, either for the qualifying organization or on behalf of other domestic or foreign lenders or credit card state banks:
  (A) The distribution of credit cards or other devices designed and effective to access credit card accounts. See Tennessee Code 45-2-1901
• Quorum: The number of legislators that must be present to do business.
• Real estate loan: means any loan or other obligation secured by a lien on real estate in any state held in fee or in a leasehold extending or renewable automatically for a period of at least ten (10) years beyond the date scheduled for the final principal payment of the loan or obligation, or any transactions out of which a lien or claim is created against the real estate, including, inter alia, the purchase of the real estate in fee by an association and the concurrent or immediate sale thereof on installment contract. See Tennessee Code 45-3-104
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• real property: include lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Tennessee Code 1-3-105
• Reason to know: means that, upon the information available, a person of ordinary intelligence in the particular business, or of the superior intelligence or experience that the person in question may have, would infer that the fact in question exists or that there is such a substantial chance of its existence that, if exercising reasonable care with reference to the matter in question, conduct would be predicated upon the assumption of its possible existence. See Tennessee Code 45-1-103
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Referendum: means any voting procedure under which affected producers may, by secret ballot, vote for or against an assessment authorized by this chapter. See Tennessee Code 44-19-103
• Regulations: means a resolution by the county legislative body or an ordinance by the governing body of any municipality regulating or prohibiting the normal noises of animals or fowls, the noises in the operation of the equipment, the odors normally associated with any feedlot, dairy farm, or poultry production house, or the preclusion of any animals or fowls from within the city or from within a defined area of the county. See Tennessee Code 44-18-101
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
• Residential housing: means a specific work or improvement within this state undertaken primarily to provide dwelling accommodations for persons and families of lower and moderate income, including the acquisition, construction or rehabilitation of land, buildings and improvements thereto and such other nonhousing facilities as may be incidental or appurtenant thereto. See Tennessee Code 13-23-103
• Resulting bank: means the bank resulting from a merger or conversion. See Tennessee Code 45-2-1301
• Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) ^{Source: OCC}
• Right of offset: Banks' legal right to seize funds that a guarantor or debtor may have on deposit to cover a loan in default. It is also known as the right of set-off. ^{Source: OCC}
• Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
• Rule of the department: means a rule as defined in the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, that materially affects the operation of a feedlot, dairy farm, or poultry production house and that has been adopted by the department. See Tennessee Code 44-18-101
• Safe deposit box: means a safe deposit box, vault, or other safe deposit receptacle maintained by a lessor and the rules relating thereto apply to property or documents kept in safekeeping in the bank's vault. See Tennessee Code 45-2-901
• Satellite office: means a facility that is operated ancillary to a home or branch office and that does not have more than one thousand (1,000) square feet of floor space nor more than four (4) teller stations. See Tennessee Code 45-3-104
• Savings and loan association: includes a building and loan association, a federal or state savings and loan association, a federal savings bank, and any other financial institution, the accounts of which are insured by the [former] federal savings and loan insurance corporation (FSLIC) or any successor [repealed] of such corporation. See Tennessee Code 1-3-105
• Savings association: means an association as defined and operating under chapter 3 of this title or under the laws of the United States. See Tennessee Code 45-1-103
• Secretary: means the corporate officer to whom the bylaws or the board of directors has delegated responsibility under §. See Tennessee Code 48-11-201
• Secretary of state: means the person who holds the office of secretary of state of Tennessee. See Tennessee Code 48-202-101
• Servicing fees: means that sum paid for the reasonable value of services rendered to the agency for the servicing of mortgages it acquires. See Tennessee Code 13-23-103
• Servicing of mortgages: means the collection and payment of all principal and interest and all reasonable fees and charges by the lender for mortgages acquired by the agency. See Tennessee Code 13-23-103
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• sex: means a person's immutable biological sex as determined by anatomy and genetics existing at the time of birth and evidence of a person's biological sex. See Tennessee Code 1-3-105
• signed: includes a mark, the name being written near the mark and witnessed, or any other symbol or methodology executed or adopted by a party with intention to authenticate a writing or record, regardless of being witnessed. See Tennessee Code 1-3-105
• State: means the state of Tennessee. See Tennessee Code 13-23-103
• 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
• State bank: means any bank chartered by this state. See Tennessee Code 45-1-103
• State bank: means a bank chartered by this state. See Tennessee Code 45-2-1301
• State bank: means any bank chartered by this state. See Tennessee Code 45-1-103
• State portion: means funds appropriated by the state to fund the state portion of the loan fund pool. See Tennessee Code 13-23-302
• State trust company: means a corporation or limited liability company organized or reorganized under the Tennessee Banking Act, compiled in this chapter and chapter 2 of this title, whose purposes and powers are limited to fiduciary purposes and power, including a trust company previously organized under the laws of this state. See Tennessee Code 45-1-103
• State trust company: means a corporation or limited liability company organized or reorganized under the Tennessee Banking Act, compiled in this chapter and chapter 2 of this title, whose purposes and powers are limited to fiduciary purposes and power, including a trust company previously organized under the laws of this state. See Tennessee Code 45-1-103
• State trust institution: means a trust institution having its principal office in this state. See Tennessee Code 45-1-103
• Statute: A law passed by a legislature.
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Stockholder: means the holder of one (1) or more shares of any class of capital stock of a capital stock association organized and operating pursuant to this chapter. See Tennessee Code 45-3-104
• Subpoena: A command to a witness to appear and give testimony.
• Subscription: includes a mark, the name being written near the mark and witnessed. See Tennessee Code 1-3-105
• Subsidiary: means a corporation more than fifty percent (50%) of whose outstanding voting shares are owned by its parent and/or the parent's other wholly-owned subsidiaries. See Tennessee Code 48-11-201
• Subsidiary corporation: means any corporation, all or part of the stock of which is owned by a bank principally for the purpose of participating in the active management of the business of the corporation as distinguished from the purpose of deriving profit from the appreciation in value of the stock or from dividends paid on the stock. See Tennessee Code 45-1-103
• Subsidiary nonprofit corporation: means a nonprofit corporation, the sole member of which is also a nonprofit corporation. See Tennessee Code 48-101-802
• Substantial rehabilitation: means improvements made to residential real property that exceed thirty-five percent (35%) of the proposed market value of the structure after rehabilitation. See Tennessee Code 7-8-102
• Surplus: means the aggregate amount of the undistributed net income of an association held as undivided profits or unallocated reserves for general corporate purposes, and any paid-in surplus or initial undivided profits held by an association. See Tennessee Code 45-3-104
• Tenancy by the entirety: A type of joint tenancy between husband and wife that is recognized in some States. Neither party can sever the joint tenancy relationship; when a spouse dies, the survivor acquires full title to the property.
• Tennessee bank holding company: means a bank or bank holding company for which Tennessee is the home state of the bank or company. See Tennessee Code 45-2-1402
• Tennessee dairy promotion committee: means a statewide committee appointed by the commissioner established pursuant to this chapter. See Tennessee Code 44-19-103
• Termination: means the end of an LLC's existence as a legal entity and occurs when the articles of termination are filed with the secretary of state under §. See Tennessee Code 48-202-101
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Thrift institution: means an association, a mutual savings bank, a cooperative bank, a homestead association, a credit union, a federal association, a small loan company, and any supervised thrift or residential financing institution of a substantially similar nature as determined by the commissioner. See Tennessee Code 45-3-104
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Transact a trust business with the general public: means any sale, solicitation, arrangement, agreement, or transaction to provide fiduciary services as described in §. See Tennessee Code 45-2-2001
• Trust company: means a state trust company or any other company chartered to act as a fiduciary that is neither a depository institution nor a foreign bank. See Tennessee Code 45-1-103
• Trust company: means a state trust company or any other company chartered to act as a fiduciary that is neither a depository institution nor a foreign bank. See Tennessee Code 45-1-103
• Trust institution: means a depository institution, foreign bank, state bank or trust company authorized to act as a fiduciary. See Tennessee Code 45-1-103
• Trust institution: means a depository institution, foreign bank, state bank or trust company authorized to act as a fiduciary. See Tennessee Code 45-1-103
• Trust office: means an office, other than the principal office, at which a trust institution is authorized by the commissioner to act as a fiduciary. See Tennessee Code 45-1-103
• Trust office: means an office, other than the principal office, at which a trust institution is authorized by the commissioner to act as a fiduciary. See Tennessee Code 45-1-103
• Trustee: A person or institution holding and administering property in trust.
• Unauthorized trust activity: means :
  (A) A company, other than one identified in chapter 2, part 10 of this title, acting as a fiduciary within this state. See Tennessee Code 45-1-103
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Unit or units of local government: means any city or county, separately or together, that sets up a program to establish a housing trust fund. See Tennessee Code 13-23-502
• United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• Venue: The geographical location in which a case is tried.
• Vote: means to cast a ballot in a referendum. See Tennessee Code 44-19-103
• Withdrawal value: means the amount paid to an association on a deposit account, plus interest credited thereto, less lawful deductions therefrom, as shown by the books of the association. See Tennessee Code 45-3-104
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
• Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
• Zoning requirement: means a regulation or ordinance that has been adopted by a city, county, township, school district, or any special-purpose district or authority, that materially affects the operation of a feedlot, dairy farm or poultry production house. See Tennessee Code 44-18-101