As used in this part, unless the context otherwise requires:

(1) “Apparent owner” means a person whose name appears on the records of a holder as the owner of property held, issued, or owing by the holder;
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Terms Used In Tennessee Code 66-29-102

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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
  • Business association: means a for-profit or nonprofit corporation, joint stock company, investment company other than an investment company registered under the Investment Company Act of 1940 ( 15 U. See Tennessee Code 66-29-102
  • 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.
  • Domicile: means :
    (A) For a corporation, the state of its incorporation. See Tennessee Code 66-29-102
  • Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Tennessee Code 66-29-102
  • 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.
  • 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
  • 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.
  • Financial organization: means a savings and loan association, building and loan association, savings bank, industrial bank, bank, banking organization, or credit union. See Tennessee Code 66-29-102
  • Game-related digital content: means digital content that exists only in an electronic game or electronic-game platform. See Tennessee Code 66-29-102
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Holder: means a person obligated to hold for the account of, or to deliver or pay to, the owner of property that is subject to this part. See Tennessee Code 66-29-102
  • Insurance company: means an insurer, not-for-profit hospital and medical corporation regulated under title 56, chapter 29, health maintenance organization, fraternal benefit society, or any person or entity required to obtain a certificate of authority or similar license from the department of commerce and insurance under title 56 in order to issue or enter into contracts of insurance in this state. See Tennessee Code 66-29-102
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • 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.
  • 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
  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Loyalty card: means a record given without direct monetary consideration under an award, reward, benefit, loyalty, incentive, rebate, or promotional program that may be used or redeemed only to obtain goods or services or a discount on goods or services. See Tennessee Code 66-29-102
  • Mineral: means gas, oil, coal, oil shale, other gaseous liquid or solid hydrocarbon, cement material, sand and gravel, road material, building stone, chemical raw material, gemstone, fissionable and nonfissionable ores, colloidal and other clay, steam and other geothermal resources, and any other substance defined as a mineral by any other law of this state. See Tennessee Code 66-29-102
  • Mineral proceeds: includes an amount payable:
    (A) For the acquisition and retention of a mineral lease, including, but not limited to, a bonus, royalty, compensatory royalty, shut-in royalty, minimum royalty, and delay rental. See Tennessee Code 66-29-102
  • Money order: means a payment order for a specified amount of money and includes, but is not limited to, an express money order and a personal money order on which the remitter is the purchaser. See Tennessee Code 66-29-102
  • 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.
  • Owner: includes :
    (A) A depositor, for a deposit. See Tennessee Code 66-29-102
  • 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.
  • Payroll card: means a record that evidences a payroll card account, as that term is defined in 12 C. See Tennessee Code 66-29-102
  • Person: means an individual, estate, business association, public corporation, government or governmental subdivision, agency, instrumentality, or other legal entity. See Tennessee Code 66-29-102
  • Property: means tangible property described in §. See Tennessee Code 66-29-102
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Tennessee Code 66-29-102
  • 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
  • Road: includes public bridges and may be held equivalent to the words "county way" "county road" or "state road". See Tennessee Code 1-3-105
  • 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
  • Security: means :
    (A) A security interest, as that term is defined in §. See Tennessee Code 66-29-102
  • 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.
  • State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Tennessee Code 66-29-102
  • Transit fare card: means any pass or instrument purchased to utilize public transportation facilities or services. See Tennessee Code 66-29-102
  • Treasurer: means the state treasurer. See Tennessee Code 66-29-102
  • United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Utility: means a person that owns or operates for public use a plant, equipment, real property, franchise, or license for the following public services:
    (A) The transmission of communications or information. See Tennessee Code 66-29-102
  • Virtual currency: means a digital representation of value used as a medium of exchange, unit of account, or a store of value that is not recognized by the United States as legal tender. See Tennessee Code 66-29-102
  • Worthless security: means a security whose cost of liquidation and delivery would exceed the value of the security on the date a report is due under this part. See Tennessee Code 66-29-102
(2) “Business association” means a for-profit or nonprofit corporation, joint stock company, investment company other than an investment company registered under the Investment Company Act of 1940 ( 15 U.S.C. §§ 80a-1 et seq.), partnership, unincorporated association, joint venture, limited liability company, business trust, trust company, land bank, safe deposit company, safekeeping depository, financial organization, insurance company, federally chartered entity, utility, sole proprietorship, or other business entity;
(3) “Confidential information” has the same meaning as described in § 66-29-178;
(4) “Domicile” means:

(A) For a corporation, the state of its incorporation;
(B) For a business association, other than a corporation, whose formation requires a filing with a state, the state of its filing;
(C) For a federally chartered entity or an investment company registered under the Investment Company Act of 1940, the state of its home office; and
(D) For any other holder, the state of its principal place of business;
(5) “Electronic” means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities;
(6) “Electronic mail” means any communication of information by electronic means that is automatically retained and stored and may be readily accessed or retrieved;
(7) “Financial organization” means a savings and loan association, building and loan association, savings bank, industrial bank, bank, banking organization, or credit union;
(8) “Game-related digital content” means digital content that exists only in an electronic game or electronic-game platform. “Game-related digital content”:

(A) Includes:

(i) Game-play currency such as a virtual wallet, even if denominated in United States currency; and
(ii) The following if for use or redemption only within that game or platform or another electronic game or electronic-game platform:

(a) Points sometimes referred to as gems, tokens, gold, and similar names; and
(b) Digital codes; and
(B) Does not include an item that the issuer:

(i) Permits to be redeemed for use outside of a game or platform for:

(a) Money; or
(b) Goods or services that have more than minimal value; or
(ii) Otherwise monetizes for use outside of a game or platform;
(9) “Gift card”:

(A) Means a stored-value card:

(i) The value of which does not expire;
(ii) That may be decreased in value only by redemption for merchandise, goods, or services; and
(iii) That, unless required by law, must not be redeemed for or converted into money or otherwise monetized by the issuer; and
(B) Includes a prepaid commercial mobile radio service, as that term is defined in 47 C.F.R. § 20.3;
(10) “Holder” means a person obligated to hold for the account of, or to deliver or pay to, the owner of property that is subject to this part;
(11) “Insurance company” means an insurer, not-for-profit hospital and medical corporation regulated under title 56, chapter 29, health maintenance organization, fraternal benefit society, or any person or entity required to obtain a certificate of authority or similar license from the department of commerce and insurance under title 56 in order to issue or enter into contracts of insurance in this state. “Insurance company” also includes any person or entity that has regulatory approval in its state of domicile to issue or enter into contracts of insurance and that would be required to obtain a certificate of authority or similar license from the department of commerce and insurance under title 56 if it issued or entered into contracts of insurance in this state;
(12) “Local government” means any metropolitan government, municipality, or county located in this state;
(13) “Loyalty card” means a record given without direct monetary consideration under an award, reward, benefit, loyalty, incentive, rebate, or promotional program that may be used or redeemed only to obtain goods or services or a discount on goods or services. “Loyalty card” does not include a record that may be redeemed for money or otherwise monetized by the issuer;
(14) “Military medal” means any decoration or award that may be presented or awarded to a member of the armed forces of the United States or national guard;
(15) “Mineral” means gas, oil, coal, oil shale, other gaseous liquid or solid hydrocarbon, cement material, sand and gravel, road material, building stone, chemical raw material, gemstone, fissionable and nonfissionable ores, colloidal and other clay, steam and other geothermal resources, and any other substance defined as a mineral by any other law of this state;
(16) “Mineral proceeds” means an amount payable for extraction, production, or sale of minerals or, on the abandonment of the amount, the amount that becomes payable after abandonment. “Mineral proceeds” includes an amount payable:

(A) For the acquisition and retention of a mineral lease, including, but not limited to, a bonus, royalty, compensatory royalty, shut-in royalty, minimum royalty, and delay rental;
(B) For the extraction, production, or sale of minerals, including, but not limited to, a net revenue interest, royalty, overriding royalty, extraction payment, and production payment; and
(C) Under an agreement or option, including, but not limited to, a joint operating agreement, unit agreement, pooling agreement, and farm out agreement;
(17) “Money order” means a payment order for a specified amount of money and includes, but is not limited to, an express money order and a personal money order on which the remitter is the purchaser;
(18) “Municipal bond” means a bond of evidence of indebtedness issued by a municipality or other political subdivision of a state;
(19) “Net card value” means the original purchase price or original issued value of a stored-value card, plus amounts added to its original value and minus amounts used and any service charge, fee, or dormancy charge permitted by law;
(20) “Non-freely transferable security” means a security that cannot be delivered to the treasurer by the Depository Trust & Clearing Corporation or a similar custodian of securities providing post-trade clearing and settlement services to financial markets, or that cannot be delivered because there is no agent to effect transfer. “Non-freely transferable security” includes a worthless security;
(21) “Owner” means a person who has a legal, beneficial, or equitable interest in property subject to this part or the person’s legal representative when acting on behalf of the owner. “Owner” includes:

(A) A depositor, for a deposit;
(B) A beneficiary, for a trust other than a deposit in trust;
(C) A creditor, claimant, or payee, for other property; and
(D) The lawful bearer of a record that may be used to obtain money, a reward, or a thing of value;
(22) “Payroll card” means a record that evidences a payroll card account, as that term is defined in 12 C.F.R. § 1005.2;
(23) “Person” means an individual, estate, business association, public corporation, government or governmental subdivision, agency, instrumentality, or other legal entity;
(24) “Property” means tangible property described in §§ 66-29-109, 30-2-702, and 31-6-107 or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder’s business or by a government, governmental subdivision, agency, or instrumentality. “Property”:

(A) Includes all income from or increments to the property;
(B) Includes property referred to as or evidenced by:

(i) Money, virtual currency, interest, dividend, check, draft, deposit, or payroll card;
(ii) A credit balance, customer’s overpayment, stored-value card, security deposit, refund, credit memorandum, unpaid wage, unused ticket for which the issuer has an obligation to provide a refund, mineral proceeds, or an unidentified remittance;
(iii) A security, other than:

(a) A worthless security; or
(b) A security that is subject to a lien, legal hold, or restriction evidenced on the records of the holder or imposed by operation of law, and that restricts the holder’s or owner’s ability to lawfully receive, transfer, sell, or otherwise negotiate the security;
(iv) A bond, debenture, note, or other evidence of indebtedness;
(v) Money deposited to redeem a security, make a distribution, or pay a dividend;
(vi) An amount that has become due and payable by an insurance company in accordance with the terms of the applicable contract or as otherwise determined by this part;
(vii) An amount distributable from a trust or custodial fund established under a plan to provide health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit sharing, employee savings, supplemental unemployment insurance, or similar benefits; and
(C) Does not include:

(i) Game-related digital content;
(ii) A loyalty card;
(iii) An in-store credit for returned merchandise;
(iv) A gift card; or
(v) A transit fare card;
(25) “Putative holder” means a person believed by the treasurer to be a holder, until the person pays or delivers to the treasurer property subject to this part or until a final determination is made that the person is a holder;
(26) “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form;
(27) “Security” means:

(A) A security interest, as that term is defined in § 47-1-201; or
(B) A security entitlement, as that term is defined in § 47-8-102, including, but not limited to, a customer security account held by a registered broker-dealer, to the extent that the financial assets held in the security account are not registered on the books of the issuer in the name of, payable to the order of, or specifically endorsed to, the person for whom the broker-dealer holds the assets;
(28) “Sign” means, with present intent to authenticate or adopt a record:

(A) To execute or adopt a tangible symbol; or
(B) To attach to or logically associate with the record an electronic symbol, sound, or process;
(29) “State” means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States;
(30) “Stored-value card”:

(A) Means a record evidencing a promise made for consideration by the seller or issuer of the record that goods, services, or money will be provided to the owner of the record equal to the value or amount shown in the record;
(B) Includes:

(i) A record that contains or consists of a microprocessor chip, magnetic strip, or other means for the storage of information, which is prefunded and whose value or amount is decreased on each use and increased by payment of additional consideration; and
(ii) A payroll card; and
(C) Does not include a loyalty card, transit fare card, gift card, or game-related digital content;
(31) “Transit fare card” means any pass or instrument purchased to utilize public transportation facilities or services;
(32) “Treasurer” means the state treasurer;
(33) “Treasurer’s agent” means a person with whom the treasurer contracts to conduct an examination under § 66-29-157 on behalf of the treasurer and an independent contractor of the person. “Treasurer’s agent” includes each individual participating in the examination on behalf of the person or contractor;
(34) “Utility” means a person that owns or operates for public use a plant, equipment, real property, franchise, or license for the following public services:

(A) The transmission of communications or information;
(B) The production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, or gas; or
(C) The provision of sewage and septic services, trash or garbage services, or recycling disposal;
(35) “Virtual currency” means a digital representation of value used as a medium of exchange, unit of account, or a store of value that is not recognized by the United States as legal tender. “Virtual currency” does not include:

(A) The software or protocols governing the transfer of the digital representation of value;
(B) Game-related digital content; or
(C) A loyalty card or gift card; and
(36) “Worthless security” means a security whose cost of liquidation and delivery would exceed the value of the security on the date a report is due under this part.
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