Tennessee Code 12-2-301 – Part definitions
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As used in this part, unless the context otherwise clearly requires:
Terms Used In Tennessee Code 12-2-301
- 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.
- 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
- Municipality: includes any county, city or town of the state. See Tennessee Code 12-2-301
- 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