For purposes of this chapter, a person engages in investment activities in Iran if:

(1) The person provides goods or services of twenty million dollars ($20,000,000) or more in the energy sector of Iran, including a person that provides oil or liquefied natural gas tankers, or products used to construct or maintain pipelines used to transport oil or liquefied natural gas, for the energy sector of Iran; or
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Terms Used In Tennessee Code 12-12-105

  • Financial institution: means the term as used in Section 14 of the Iran and Libya Sanctions Act of 1996 (Public Law 104- 172. See Tennessee Code 12-12-103
  • Investment: means a commitment or contribution of funds or property, whatever the source, a loan or other extension of credit, and the entry into or renewal of a contract for goods or services. See Tennessee Code 12-12-103
  • Iran: includes the government of Iran and any agency or instrumentality of Iran. See Tennessee Code 12-12-103
  • Person: means any of the following:
    (A) A natural person, corporation, company, limited liability company, business association, partnership, society, trust, or any other nongovernmental entity, organization, or group. See Tennessee Code 12-12-103
(2) The person is a financial institution that extends twenty million dollars ($20,000,000) or more in credit to another person, for forty-five (45) days or more, if that person will use the credit to provide goods or services in the energy sector in Iran and is identified on a list, created pursuant to § 12-12-106, as a person engaging in investment activities in Iran as described in this section.
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