Tennessee Code 49-4-106 – Participation by financial institutions
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Terms Used In Tennessee Code 49-4-106
- Scholarship: means educational benefits payable pursuant to a plan which shall not be deemed to be distribution of income to a member of a corporation. See Tennessee Code 49-4-101
All banks and trust companies, industrial savings banks, building and loan associations and savings and loan associations are authorized to participate in scholarship plans operating under this part.