Terms Used In Tennessee Code > Title 13 > Chapter 23 > Part 4 - Housing Funds

• Acquisition of a branch: means the acquisition of all or substantially all of the assets other than loans, cash or securities and the assumption of all or substantially all of the liabilities of or related to a branch that has been open and engaged in the business of banking for at least three (3) continuous years without the acquisition of the entire bank. See Tennessee Code 45-2-1402
• Affiliate: means any company that controls, is controlled by, or is under common control with another company. See Tennessee Code 45-2-1402
• 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.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• 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
• Bank: has the meaning stated in §. See Tennessee Code 45-2-1402
• Bank: means a credit card state bank established and operated in accordance with §. See Tennessee Code 45-2-1903
• Bank holding company: has the meaning set forth in §. See Tennessee Code 45-2-1402
• Branch: means a branch as defined in §. See Tennessee Code 45-2-1402
• Cardholder: includes borrowers and other primary obligors on loans. See Tennessee Code 45-2-1903
• Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
• Collateral kinship: means a relationship that is not lineal, but stems from a common ancestor. See Tennessee Code 45-2-2001
• Commercial activities: means any activities in which a bank holding company, financial holding company, a national bank, or a national bank subsidiary, may not engage under federal law. See Tennessee Code 45-2-1402
• Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-1-103
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Community: means a city, town, or incorporated village in this state, or where not within any of the foregoing, a trade area in this state. See Tennessee Code 45-1-103
• Company: has the meaning set forth in §. See Tennessee Code 45-2-1402
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• Control: has the meaning set forth in §. See Tennessee Code 45-2-1402
• Control: has the meaning set forth in 12 U. See Tennessee Code 45-2-1901
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• credit card plan: means any account that can be accessed by a credit card, including a debit card with a credit feature, whereby the cardholder may obtain loans from time to time either by credit card cash advance or by the purchase or satisfaction by the bank of obligations of the cardholder incurred pursuant to a credit card. See Tennessee Code 45-2-1903
• Credit card state bank: means a state bank chartered under the laws of Tennessee and whose principal office is in this state and the activities of which are limited to those permitted under §. See Tennessee Code 45-2-1901
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• De novo acquisition: means acquisition of shares of a bank prior to the time it is authorized to commence operations. See Tennessee Code 45-2-1402
• De novo branch: means a branch of a bank that:
  (A) Is originally established by the bank as a branch. See Tennessee Code 45-2-1402
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Department: means the department of financial institutions. See Tennessee Code 45-1-103
• Deposit: means a deposit of money, bonds or other things of value, creating a debtor-creditor relationship. See Tennessee Code 45-1-103
• Depository institution: means any company included for any purpose within any of the definitions of insured depository institution, as set forth in 12 U. See Tennessee Code 45-1-103
• Designated ancestor: means one (1) or more ancestors of the family designated as such in the application submitted under this part. See Tennessee Code 45-2-2001
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Domestic holding company: means a company or other affiliate, that either:
  (i) Controls a domestic or foreign lender and has its principal place of business in this state. See Tennessee Code 45-2-1901
• Domestic lender: means any bank, savings and loan association, savings bank, or credit union organized and supervised under the laws of this state or the United States, that has its principal place of business in this state or any other business organization that is authorized by law to accept deposits and make loans and has its principal place of business in this state. See Tennessee Code 45-2-1901
• Donor: The person who makes a gift.
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Family affiliate: means a company or other entity in which one (1) or more family members, directly or indirectly, through ownership of voting securities or equity, by contract, through power of direction, through beneficial or other ownership in one (1) or more other entities, or otherwise:
  (i) Owns a majority interest. See Tennessee Code 45-2-2001
• Family client: means :
  (i) A family member. See Tennessee Code 45-2-2001
• Family member: means a designated ancestor and:
  (i) An individual within the twelfth degree of lineal kinship of a designated ancestor. See Tennessee Code 45-2-2001
• Family services provider: means :
  (i) A full-time employee of the private trust company. See Tennessee Code 45-2-2001
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Foreign bank: means a foreign bank, as defined in the International Banking Act of 1978 §. See Tennessee Code 45-1-103
• Foreign lender: means any bank, savings and loan association, savings bank, credit union, organized or chartered under the laws of the United States, or any state other than this state, or the District of Columbia, that has its principal place of business outside this state, or any other business organization that is authorized by law to accept deposits and make commercial loans and has its principal place of business outside this state. See Tennessee Code 45-2-1901
• Foster child: means an individual raised or being raised by someone who is not the individual's natural or adoptive parent. See Tennessee Code 45-2-2001
• Fraud: Intentional deception resulting in injury to another.
• Good faith: means honesty in fact in the conduct or transaction concerned. See Tennessee Code 45-1-103
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Holding company: means any company that controls a domestic or foreign lender. See Tennessee Code 45-2-1901
• Home state: means :
  (A) With respect to a national bank, the state in which the main office of the bank is located. See Tennessee Code 45-2-1402
• Host state: means a state, other than the home state of a bank, in which the bank maintains or seeks to establish and maintain a branch. See Tennessee Code 45-2-1402
• Immediate family: means an individual's spouse or former spouse, any descendant of that individual, and any relative living in the same residence as that individual. See Tennessee Code 45-2-2001
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Inter vivos: Transfer of property from one living person to another living person.
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Interim bank merger: means the technique by which a new bank charter is obtained solely for the purpose of merging an existing bank into the bank for which the charter is sought, or solely for the purpose of merging the bank for which the charter is sought into an existing bank. See Tennessee Code 45-2-1402
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Lineal kinship: means the direct ancestors and descendants of an individual. See Tennessee Code 45-2-2001
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Loan: means any extension of credit, including, but not limited to, credit extended under plans or in transactions for which no credit card is issued, whether by way of installment, single payment, add-on, discount factoring, or otherwise for personal, consumer, agricultural or commercial purposes. See Tennessee Code 45-2-1903
• Minor: means any person who has not attained eighteen (18) years of age. See Tennessee Code 1-3-105
• Month: means a calendar month. See Tennessee Code 1-3-105
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Oath: A promise to tell the truth.
• Oath: includes affirmation. See Tennessee Code 1-3-105
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• 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
• 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 an individual, corporation, firm, trust, estate, partnership, joint venture, or association. See Tennessee Code 45-1-103
• Private trust company: means a company that is a private trust company as set forth in §. See Tennessee Code 45-1-103 v2
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Public trust company: means a state trust company that is not a private trust company. See Tennessee Code 45-1-103 v2
• Qualifying organization: means a corporation, partnership, or other entity that at all times maintains an office in this state, at which it employs at least one hundred (100) persons residing in this state, and that is directly engaged in providing the following services, either for the qualifying organization or on behalf of other domestic or foreign lenders or credit card state banks:
  (A) The distribution of credit cards or other devices designed and effective to access credit card accounts. See Tennessee Code 45-2-1901
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
• 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).
• 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
• Savings and loan association: includes a building and loan association, a federal or state savings and loan association, a federal savings bank, and any other financial institution, the accounts of which are insured by the [former] federal savings and loan insurance corporation (FSLIC) or any successor [repealed] of such corporation. See Tennessee Code 1-3-105
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• 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
• State trust company: means a corporation or limited liability company organized or reorganized under the Tennessee Banking Act, compiled in this chapter and chapter 2 of this title, whose purposes and powers are limited to fiduciary purposes and power, including a trust company previously organized under the laws of this state. See Tennessee Code 45-1-103
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Tennessee bank holding company: means a bank or bank holding company for which Tennessee is the home state of the bank or company. See Tennessee Code 45-2-1402
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Transact a trust business with the general public: means any sale, solicitation, arrangement, agreement, or transaction to provide fiduciary services as described in §. See Tennessee Code 45-2-2001
• Trust company: means a state trust company or any other company chartered to act as a fiduciary that is neither a depository institution nor a foreign bank. See Tennessee Code 45-1-103
• Trust institution: means a depository institution, foreign bank, state bank or trust company authorized to act as a fiduciary. See Tennessee Code 45-1-103
• Trust office: means an office, other than the principal office, at which a trust institution is authorized by the commissioner to act as a fiduciary. See Tennessee Code 45-1-103
• Trustee: A person or institution holding and administering property in trust.
• Unauthorized trust activity: means :
  (A) A company, other than one identified in chapter 2, part 10 of this title, acting as a fiduciary within this state. See Tennessee Code 45-1-103
• 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
• Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105