Terms Used In Tennessee Code > Title 8 > Chapter 34 > Part 5 - Actuarial Services

• Age of majority: means eighteen (18) years of age or older. See Tennessee Code 1-3-105
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• board: means the board provided for in part 3 of this chapter. See Tennessee Code 8-34-101
• Commissioner: means any person in office as a member of the public service commission, as prescribed by title 65, chapter 1, prior to June 30, 1996. See Tennessee Code 8-34-101
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Defective condition: means a condition of a product that renders it unsafe for normal or anticipatable handling and consumption. See Tennessee Code 29-28-102
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• 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.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Manufacturer: means the designer, fabricator, producer, compounder, processor or assembler of any product or its component parts. See Tennessee Code 29-28-102
• Member: means any person included in the membership of the retirement system, as provided in chapter 35, part 1 of this title. See Tennessee Code 8-34-101
• 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: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Product: means any tangible object or goods produced. See Tennessee Code 29-28-102
• Product liability action: includes , but is not limited to, all actions based upon the following theories: strict liability in tort. See Tennessee Code 29-28-102
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Regular interest: means interest at such rate or rates compounded annually as may be set from time to time by the board of trustees in accordance with §. See Tennessee Code 8-34-101
• Retirement: means withdrawal from membership with a retirement allowance granted under chapters 34-37 of this title. See Tennessee Code 8-34-101
• Retirement system: means the Tennessee consolidated retirement system as defined in §. See Tennessee Code 8-34-101
• Seller: includes a retailer, wholesaler, or distributor, and means any individual or entity engaged in the business of selling a product, whether such sale is for resale, or for use or consumption. See Tennessee Code 29-28-102
• Service: means service as a general employee, a teacher, a state police officer, a wildlife officer, a firefighter, a police officer, a state judge, a county judge, an attorney general, a commissioner or a county official which is paid for by an employer, and also includes service for which a former member of the general assembly is entitled to under former §. See Tennessee Code 8-34-101
• Service of process: The service of writs or summonses to the appropriate party.
• 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
• Statute: A law passed by a legislature.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• 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.
• United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• Unreasonably dangerous: means that a product is dangerous to an extent beyond that which would be contemplated by the ordinary consumer who purchases it, with the ordinary knowledge common to the community as to its characteristics, or that the product because of its dangerous condition would not be put on the market by a reasonably prudent manufacturer or seller, assuming that the manufacturer or seller knew of its dangerous condition. See Tennessee Code 29-28-102
• Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105