Terms Used In Tennessee Code > Title 45 > Chapter 5 > Part 6 - Industrial Banks and Industrial Investment Companies

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-5-102
• Control: means possession, direct or indirect, of the power to direct or cause the direction of management and policies of a person, whether through the ownership of voting securities by contract or otherwise. See Tennessee Code 45-5-102
• 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.
• Deposit: means a deposit of money, bonds or other things of value, creating a debtor-creditor relationship. See Tennessee Code 45-1-103
• Industrial bank: means a person organized and registered as an industrial bank pursuant to this chapter, engaged in the business of making loans and imposing the interest and loan charges authorized under this chapter, that issues thrift certificates and that is also examined, supervised and liquidated as a state bank under this title. See Tennessee Code 45-5-102
• Industrial investment company: means a person organized and registered as an industrial investment company pursuant to this chapter, engaged in the business of making loans and imposing the interest and loan charges authorized under this chapter, that issues investment certificates subject to the Tennessee Securities Act, compiled in title 48, chapter 1, part 1, and that is also examined, supervised and liquidated as a state bank under this title. See Tennessee Code 45-5-102
• Industrial loan and thrift company: means a person engaged in the business of making loans and imposing the interest and loan charges authorized under this chapter, and includes persons engaged in business as endorsement companies. See Tennessee Code 45-5-102
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• 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, corporation, firm, trust, estate, partnership, joint venture or association, as the context may require. See Tennessee Code 45-5-102
• Principal: means the total of money paid to, received by, or paid or credited to the account of the borrower, including loan charges as provided in §. See Tennessee Code 45-5-102
• 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
• State bank: means any bank chartered by this state. See Tennessee Code 45-1-103