Part 1 General Provisions
Part 2 Registration of Companies
Part 3 Powers of Registered Companies
Part 4 Interest and Borrowers
Part 5 Supervision by Commissioner
Part 6 Industrial Banks and Industrial Investment Companies

Terms Used In Tennessee Code > Title 45 > Chapter 5

  • Actuarial method: means the method of allocating payments made on a debt between the principal and interest pursuant to which payment is applied first to accumulated interest and any remainder is subtracted from, or any deficiency is added to, the unpaid principal balance of the debt. See
  • Affiliated lender: means any industrial loan and thrift company or industrial investment company or industrial bank under common control with another registrant, or working together with another registrant, so as to effect for each other a greater volume of business. See
  • 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
  • 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
  • Commissioner: means the commissioner of financial institutions. See
  • Commissioner: means the commissioner of financial institutions. See
  • Company: includes a bank, trust company, corporation, partnership, association, business or other trust, or similar business entity. See
  • Control: means possession, direct or indirect, of the power to direct or cause the direction of management and policies of a person, whether through the ownership of voting securities by contract or otherwise. See
  • Controlling person: means any person in control of a registrant. See
  • Department: means the department of financial institutions. See
  • Deposit: means a deposit of money, bonds or other things of value, creating a debtor-creditor relationship. See
  • 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
  • Effective rate of interest: means the simple rate of interest, including the result of converting discount or other nominal rates of interest into simple rates of interest. See
  • Executor: includes an assets of the estate, pay debts, and distribute residue to those entitled to it. See Tennessee Code 1-3-105
  • Industrial bank: means a person organized and registered as an industrial bank pursuant to this chapter, engaged in the business of making loans and imposing the interest and loan charges authorized under this chapter, that issues thrift certificates and that is also examined, supervised and liquidated as a state bank under this title. See
  • Industrial investment company: means a person organized and registered as an industrial investment company pursuant to this chapter, engaged in the business of making loans and imposing the interest and loan charges authorized under this chapter, that issues investment certificates subject to the Tennessee Securities Act, compiled in title
  • Industrial loan and thrift company: means a person engaged in the business of making loans and imposing the interest and loan charges authorized under this chapter, and includes persons engaged in business as endorsement companies. See
  • Interest: means compensation for the use, detention or forbearance to collect money over a period of time, and does not include compensation for other purposes, including, but not limited to:

    (A) Time-price differentials. See

  • Investment certificate: means a writing by which an industrial investment company evidences its receipt of money from a natural person and its obligation to repay the money, with interest, in accordance with the provisions of the writing, which certificates are not insured by an agency of the United States government. See
  • Loan charges: means compensation to a registrant for services, expenses, detriments or commitments directly incident to a loan, and does not include compensation for other purposes, including, but not limited to, time-price differentials, interest or insurance charges. See
  • Month: means a calendar month. See Tennessee Code 1-3-105
  • Mortgage loan originator: means :

    (A) An individual who, for compensation or gain or in the expectation of compensation or gain:

    (i) Takes a residential mortgage loan application. See

  • Nationwide Mortgage Licensing System and Registry: means a mortgage licensing system developed and maintained by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators for the licensing and registration of licensed mortgage loan originators. See
  • Oath: includes affirmation. See Tennessee Code 1-3-105
  • 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

  • Person: means an individual, corporation, firm, trust, estate, partnership, joint venture or association, as the context may require. See
  • Person: means an individual, corporation, firm, trust, estate, partnership, joint venture, or association. See
  • Personal property: includes money, goods, chattels, things in action, and evidences of debt. See Tennessee Code 1-3-105
  • Principal: means the total of money paid to, received by, or paid or credited to the account of the borrower, including loan charges as provided in §. See
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • 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
  • 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
  • Registrant: means any person registered as an industrial loan and thrift company, industrial investment company or industrial bank under this chapter. See
  • 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 mortgage loan: means any loan, including an extension of credit, primarily for personal, family or household use that is secured by a mortgage, deed of trust or other equivalent consensual security interest on a dwelling, as defined in §. See
  • 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 federal savings and loan insurance corporation (FSLIC) or any successor of such corporation. 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: 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
  • Thrift certificate: means a writing by which an industrial bank evidences its receipt of money from a natural person and its obligation to repay the money, with interest in accordance with the provisions of the writing, that is insured by an agency of the United States government. See
  • Total amount of the loan: means the aggregate amount of money scheduled to be paid by a borrower to a registrant to repay a loan, including principal and any interest precomputed and deducted in advance. See
  • 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
  • Unique identifier: means a number or other identifier assigned by protocols established by the Nationwide Mortgage Licensing System and Registry. See
  • 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
  • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105