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

(1) “Commissioner” means the commissioner of commerce and insurance;
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Terms Used In Tennessee Code 49-4-101

  • Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 49-4-101
  • 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.
  • Corporation: means a corporation or association not for profit authorized to administer a plan in the state. See Tennessee Code 49-4-101
  • Member: means any person who is accepted as a member by the plan and who may later become eligible for a scholarship as provided in the charter and bylaws of the plan. See Tennessee Code 49-4-101
  • Minor: means any person who has not attained eighteen (18) years of age. See Tennessee Code 1-3-105
  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
  • Plan: means any educational cooperative plan or scholarship plan subject to this part. See Tennessee Code 49-4-101
  • Scholarship: means educational benefits payable pursuant to a plan which shall not be deemed to be distribution of income to a member of a corporation. See Tennessee Code 49-4-101
  • 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
  • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
(2) “Corporation” means a corporation or association not for profit authorized to administer a plan in the state;
(3) “Fiscal year” means the period beginning January 1 and ending December 31 of each year;
(4) “Member” means any person who is accepted as a member by the plan and who may later become eligible for a scholarship as provided in the charter and bylaws of the plan;
(5) “Plan” means any educational cooperative plan or scholarship plan subject to this part;
(6) “Recipient of scholarship” means any member who has been granted a scholarship by the plan;
(7) “Scholarship” means educational benefits payable pursuant to a plan which shall not be deemed to be distribution of income to a member of a corporation; and
(8) “Trustee of member” means the person or persons, including corporations, partnerships or other entities, that, on behalf of a minor, executes an application for membership in the plan.
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