Terms Used In Tennessee Code > Title 13 > Chapter 24 > Part 2 - Manufactured Residential Dwellings

• 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
• 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
• 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
• 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 Tennessee Code 45-3-104
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the department of financial institutions. 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
• Depositor: means the holder of a deposit account in an association. See Tennessee Code 45-3-104
• 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}
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Federal association: means a savings and loan association operating under the laws and regulations of the United States. See Tennessee Code 45-3-104
• Fiduciary: A trustee, executor, or administrator.
• Financial institution: means a thrift institution, commercial bank, or trust company. See Tennessee Code 45-3-104
• 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
• 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
• 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
• Liquid assets: means :
  (A) Cash on hand. See Tennessee Code 45-3-104
• Member: means a person holding a deposit account of a mutual association. See Tennessee Code 45-3-104
• 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: 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}
• 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
• 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
• 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 dwelling: as used in this part , does not apply to factory-manufactured mobile homes constructed as a single self-contained unit and mounted on a single chassis, and as further defined in §. See Tennessee Code 13-24-201
• 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
• State bank: means any bank chartered by this state. See Tennessee Code 45-1-103
• 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