Tennessee Code 56-9-333 – Unclaimed funds – Disposition
Current as of: 2024 | Check for updates
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Terms Used In Tennessee Code 56-9-333
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-9-103
- Creditor: is a person having any claim, whether matured or unmatured, liquidated or unliquidated, secured or unsecured, absolute, fixed or contingent. See Tennessee Code 56-9-103
- Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
- insolvent: means :
(A) For an insurer issuing only assessable fire insurance policies: (i) The inability to pay any obligation within thirty (30) days after it becomes payable. See Tennessee Code 56-9-103 - Insurer: means any person who has done, purports to do, is doing or is licensed to do an insurance business, and is or has been subject to the authority of, or to liquidation, rehabilitation, reorganization, supervision, or conservation by, any insurance commissioner. See Tennessee Code 56-9-103
- Person: means any association, aggregate of individuals, business, company, corporation, individual, joint-stock company, Lloyds-type organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Tennessee Code 56-16-102
- Property: includes both personal and real property. See Tennessee Code 1-3-105
- Representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
- State: means any state, district or territory of the United States and the Panama Canal Zone. See Tennessee Code 56-9-103