Terms Used In Tennessee Code > Title 33 > Chapter 9 - Interstate Provisions

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Alcohol dependence: means alcohol abuse that results in the development of tolerance or manifestations of alcohol abstinence syndrome upon cessation of use. See Tennessee Code 33-1-101
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Associate: includes any:
  (A) Employee of a producer of title insurance business. See Tennessee Code 56-35-102
• Attorney: means the person designated and authorized by subscribers as the attorney-in-fact having authority to obligate them on reciprocal insurance contracts. See Tennessee Code 56-16-102
• board: means the board provided for in part 3 of this chapter. See Tennessee Code 8-34-101
• Commissioner: means the commissioner of mental health and substance abuse services. See Tennessee Code 33-1-101
• Commissioner: means the commissioner of commerce and insurance, and includes all deputies legally appointed and constituted to act in the commissioner's place and stead by other applicable law of the state. See Tennessee Code 56-35-102
• Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-1-102
• Continuance: Putting off of a hearing ot trial until a later time.
• Controlled business: describes that portion of a title insurance company's, title insurance agent's or title insurance agency's business in this state with which there is connected in any way, directly or indirectly:
  (A) Producers of title insurance business who have financial interests in the title insurance company, title insurance agent or title insurance agency. See Tennessee Code 56-35-102
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the department of commerce and insurance. See Tennessee Code 56-1-102
• Department: means the department of mental health and substance abuse services. See Tennessee Code 33-1-101
• Drug dependence: means drug abuse that results in the development of tolerance or manifestations of drug abstinence syndrome upon cessation of use. See Tennessee Code 33-1-101
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• Employer: means :
  (A) The state or any department, commission, institution, board or agency of the state government by which a member is paid, with respect to members in its employ. See Tennessee Code 8-34-101
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Financial interest: means any interest, legal or beneficial, such that the holder is or will be entitled to a share of the net profits or net worth of the business in which the interest is held. See Tennessee Code 56-35-102
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Foreign: when used without limitation, includes all companies formed by authority of any other state or government. See Tennessee Code 56-1-102
• Fraud: Intentional deception resulting in injury to another.
• Hospital: means a public or private hospital or facility or part of a hospital or facility equipped to provide inpatient care and treatment for persons with mental illness or serious emotional disturbance. See Tennessee Code 33-1-101
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Mental illness: means a psychiatric disorder, alcohol dependence, or drug dependence, but does not include intellectual disability or other developmental disabilities as defined in title 52. See Tennessee Code 33-1-101
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Person: means an individual, firm, association, partnership, estate, trust, fiduciary, syndicate or corporation. See Tennessee Code 56-35-102
• Policy: means any instrument, contract or agreement whereby and whereunder title insurance companies insure or guarantee titles to real property, or interests therein, or liens or encumbrances on the property, as defined in subdivision (11). See Tennessee Code 56-35-102
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Producer of title insurance business: means :
  (A) The insured or one (1) of the insureds under a policy of title insurance, except that, if the interest of the insured is held in a fiduciary capacity, the true or beneficial owner of the interest shall be deemed the insured for the purposes of this definition. See Tennessee Code 56-35-102
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Retirement: means withdrawal from membership with a retirement allowance granted under chapters 34-37 of this title. See Tennessee Code 8-34-101
• Risk rate: means the aggregate consideration paid, or to be paid, to a title insurance company for the insurance liability assumed under the policy of title insurance, or binder therefor, issued and delivered, or proposed to be issued and delivered, by the company, exclusive of all other charges incident to the issuance of the binder or policy for abstracting, record searching, certificates as to the record title to real estate, escrow and closing services, or other related services that may be offered by any title insurance or guaranty company and which company is authorized by law and its charter to perform, or the company's costs and expenses of procuring examinations of titles by attorneys approved or selected by it for such purpose. See Tennessee Code 56-35-102
• Serious emotional disturbance: means a condition in a child who currently or at any time during the past year has had a diagnosable mental, behavioral, or emotional disorder of sufficient duration to meet psychiatric diagnostic criteria that results in functional impairment that substantially interferes with or limits the child's role or functioning in family, school, or community activities and includes any mental disorder, regardless of whether it is of biological etiology. See Tennessee Code 33-1-101
• Service of process: The service of writs or summonses to the appropriate party.
• State: means the state of Tennessee. See Tennessee Code 8-34-101
• State: includes states, territories, districts and insular and other possessions of the United States. See Tennessee Code 33-9-101
• Subscriber: means a person obligated under a reciprocal insurance agreement. See Tennessee Code 56-16-102
• Testify: Answer questions in court.
• Title insurance agency: means a firm, association, trust, corporation, cooperative, joint stock company or other legal entity authorized in writing by a title insurance company to solicit title insurance, collect premiums, determine insurability in accordance with the underwriting rules and standards prescribed by the title insurance company that the agency represents, and issue title insurance policies, title insurance binders, commitments to insure and endorsements thereto in its behalf. See Tennessee Code 56-35-102
• Title insurance agent: means either:
  (A) A natural person who meets the requirements of or performs the same functions as a "title insurance agency". See Tennessee Code 56-35-102
• Title insurance business: means the insuring or guaranteeing of titles to real property, or interests in real property, or the validity, accuracy or sufficiency of liens or encumbrances on real property. See Tennessee Code 56-35-102
• Title insurance company: means any corporation, foreign or domestic, authorized by its charter to conduct a "title insurance business" as defined by this chapter and is sometimes referred to as "insurer" or "insurers. See Tennessee Code 56-35-102
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}