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

(1) “Attorney general” means the attorney general and reporter, or the attorney general and reporter’s designee;
contract signature

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Terms Used In Tennessee Code 47-18-501

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Attorney general: means the attorney general and reporter, or the attorney general and reporter's designee. See Tennessee Code 47-18-501
  • club: means any person, corporation, partnership, unincorporated association, or other business enterprise operating for profit within the state of Tennessee, the primary purpose of which is to provide benefits to members from the cooperative purchase of services or merchandise. See Tennessee Code 47-18-501
  • Contract: A legal written agreement that becomes binding when signed.
  • Contract: means any oral or written agreement by which one becomes a member of a club. See Tennessee Code 47-18-501
  • 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.
  • member: means any status by which any natural person is entitled to any of the benefits of a discount buying organization. See Tennessee Code 47-18-501
  • 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.
  • Person: means a natural person, consumer, individual, governmental agency, partnership, corporation, trust, estate, incorporated or unincorporated association, and any other legal or commercial entity however organized. See Tennessee Code 47-18-2102
  • Prepayment: means any payment greater than fifty dollars ($50. See Tennessee Code 47-18-501
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • 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
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(2) “Business day” means any day other than a Saturday, Sunday, or legal holiday;
(3) “Buyer” or “member” means any status by which any natural person is entitled to any of the benefits of a discount buying organization;
(4) “Buying service,” “buying club,” or “club” means any person, corporation, partnership, unincorporated association, or other business enterprise operating for profit within the state of Tennessee, the primary purpose of which is to provide benefits to members from the cooperative purchase of services or merchandise;
(5) “Contract” means any oral or written agreement by which one becomes a member of a club; and
(6) [Deleted by 2019 amendment.]
(7) “Prepayment” means any payment greater than fifty dollars ($50.00) for service, merchandise, or membership made before the service is rendered. Money received by a club from a financial institution upon assignment of a contract shall be considered prepayment when and to the extent the member is required to make prepayments to the financial institution pursuant to the contract.
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