Terms Used In Tennessee Code > Title 14 > Chapter 2 - Uniform Standards

• Business: includes every trade, occupation, profession, investment activity and other lawful purpose for gain or the preservation of assets whether or not carried on for profits. See Tennessee Code 48-202-101
• Business combination: when used in reference to any resident domestic corporation and any interested shareholder of such resident domestic corporation or any affiliate or associate of such interested shareholder, means:
  (A) Any merger or consolidation of such resident domestic corporation or any subsidiary of such resident domestic corporation with:

  (i) An interested shareholder or any affiliate or associate of such interested shareholder. See Tennessee Code 48-103-203
• city: means any town, city, metropolitan government or county. See Tennessee Code 7-32-101
• Class: when used with reference to membership interests, means a category of membership interests that differs in one (1) or more rights or preferences from another category of membership interests of the LLC. See Tennessee Code 48-202-101
• 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.
• Court: includes every court and judge having jurisdiction in the case. See Tennessee Code 48-202-101
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• domestic corporation: means a corporation for profit, which is not a foreign corporation, incorporated under or subject to the Tennessee Business Corporation Act, compiled in chapters 11-27 of this title, as amended. See Tennessee Code 48-202-101
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Interested shareholder: when used in reference to any resident domestic corporation, means any person (other than such resident domestic corporation or any subsidiary of such resident domestic corporation) that:
  (A)

  (i) Is the beneficial owner, directly or indirectly, of ten percent (10%) or more of the voting power of any class or series of the then outstanding voting stock of such resident domestic corporation. See Tennessee Code 48-103-203
• 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.
• Person: means an individual. See Tennessee Code 14-1-101
• Private business: means a person, sole proprietorship, corporation, limited liability company, partnership, trust, association, nonprofit organization described in §. See Tennessee Code 14-1-101
• Proof of vaccination: means physical documentation or digital storage of a person's receipt of a COVID-19 vaccine. See Tennessee Code 14-1-101
• 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).
• Resident domestic corporation: means an issuer of voting stock which, as of the share acquisition date in question, is organized under the laws of Tennessee and meets two (2) or more of the following requirements:
  (A)

  (i) The corporation has more than either ten thousand (10,000) or ten percent (10%) of its shareholders resident in Tennessee or more than ten percent (10%) of its outstanding shares held by resident Tennessee shareholders. See Tennessee Code 48-103-203
• School: means :
  (A) A public elementary or secondary school operated by a local education agency or by the state with public funds, including a charter school. See Tennessee Code 14-1-101
• Series: means a category of membership interests, within a class of membership interests, that have some of the same rights and preferences as other membership interests within the same class, but that differ in one (1) or more rights and preferences from another category of membership interests within that class. See Tennessee Code 48-202-101
• Shareholder: means the person in whose name shares are registered in the records of a corporation or the beneficial owner of shares to the extent of the rights granted by a nominee certificate on file with a corporation. See Tennessee Code 48-11-201
• Voting stock: means all shares of the resident domestic corporation entitled to vote generally in the election of directors. See Tennessee Code 48-103-203
• Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105