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§ 45-17-102. Chapter definitions.

TN Code § 45-17-102 (2019) (N/A)
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(1) “Check” means any payment instrument, including any customer authorization for electronic payment;

(2) “Commissioner” means the commissioner of financial institutions or the commissioner's designated representative;

(3) “Deferred presentment services” means a transaction pursuant to a written agreement involving the following combination of activities in exchange for a fee:

(A) Accepting a check dated on the date it was written; and

(B) Holding the check for a period of time prior to presentment for payment or deposit;

(4) “Department” means the department of financial institutions;

(5) “Licensee” means a person licensed to provide deferred presentment services pursuant to this chapter;

(6) “Payment instrument”:

(A) Means a check, draft, warrant, money order, traveler's check or other instrument for payment of money, whether or not negotiable, and also includes any authorization for electronic payment of money; and

(B) Does not include an instrument that is redeemable by the issuer in merchandise or service, a credit card voucher, or a letter of credit; and

(7) “Person” means an individual, group of individuals, partnership, association, corporation, or any other business unit or legal entity.

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§ 45-17-101. Short title.
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§ 45-17-103. License requirement.