Terms Used In Tennessee Code > Title 35 > Chapter 6 > Part 4 > Receipts Not Normally Apportioned

• Accounting period: means a calendar year unless another twelve-month period is selected by a fiduciary. See Tennessee Code 35-6-102
• Amortization: Paying off a loan by regular installments.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Association: means the Tennessee insurance guaranty association. See Tennessee Code 4-31-803
• Authority: means the Tennessee local development authority, a public agency and instrumentality of the state, created by this chapter, or if such authority shall be abolished, the board, body, commission or agency succeeding to the principal functions thereof or to which the powers and duties granted or imposed upon the authority shall be given by law. See Tennessee Code 4-31-102
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Beneficiary: includes , in the case of a decedent's estate, an heir, legatee, and devisee and, in the case of a trust, an income beneficiary and a remainder beneficiary. See Tennessee Code 35-6-102
• Bond: means any bond authorized and issued pursuant to this chapter. See Tennessee Code 4-31-102
• Bonds: means all bonds, notes or other obligations issued by the authority under this part. See Tennessee Code 4-31-803
• claims: means a covered claim as defined in §. See Tennessee Code 4-31-803
• Commissioner: means the commissioner of mental health and substance abuse services when referenced in provisions relating to mental health facilities or centers and means the commissioner of intellectual and developmental disabilities when referenced in provisions relating to intellectual and developmental disabilities facilities or centers. See Tennessee Code 4-31-703
• Contract: A legal written agreement that becomes binding when signed.
• Decedent: A deceased person.
• Department: means the department of mental health and substance abuse services when referenced in provisions relating to mental health facilities or centers and means the department of intellectual and developmental disabilities when referenced in provisions relating to developmental disabilities facilities or centers. See Tennessee Code 4-31-703
• 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.
• Facility: means "facility" as defined in §. See Tennessee Code 4-31-703
• 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.
• Grantee: means a nonprofit, Tennessee Code 4-31-703
• Income: means money or property that a fiduciary receives as current return from a principal asset. See Tennessee Code 35-6-102
• Income interest: means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require it to be distributed or authorize it to be distributed in the trustee's discretion. See Tennessee Code 35-6-102
• 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}
• Mandatory income interest: means the right of an income beneficiary to receive net income that the terms of the trust require the fiduciary to distribute. See Tennessee Code 35-6-102
• Natural disaster: means any hurricane, tornado, storm, flood, high water, wind-driven water, tidal wave, tsunami, earthquake, volcanic eruption, landslide, mudslide, snowstorm, ice storm, drought, fire, explosion, civil disturbance or other catastrophe that causes or may cause substantial damage or injury to property. See Tennessee Code 4-31-803
• Net income: means the total receipts allocated to income during an accounting period minus the disbursements made from income during the period, plus or minus transfers under this chapter to or from income during the period. See Tennessee Code 35-6-102
• 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.
• Principal: means property held in trust for distribution to a remainder beneficiary when the trust terminates. See Tennessee Code 35-6-102
• Project: means the facility or portion of a facility, the construction of which is being financed or refinanced by a loan pursuant to this part. See Tennessee Code 4-31-703
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• State: means the state of Tennessee. See Tennessee Code 4-31-102
• Trustee: includes an original, additional, or successor trustee, whether or not appointed or confirmed by a court. See Tennessee Code 35-6-102
• Trustee: A person or institution holding and administering property in trust.
• 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