Tennessee § 45-17-102 - Chapter definitions.

§ 45-17-102. Chapter definitions.

As used in this chapter, unless the context otherwise requires: “Check” means any payment instrument, including any customer authorization for electronic payment; “Commissioner” means the commissioner of financial institutions or the commissioner's designated representative; “Deferred presentment services” means a transaction pursuant to a written agreement involving the following combination of activities in exchange for a fee: Accepting a check dated on the date it was written; and Holding the check for a period of time prior to presentment for payment or deposit; “Department” means the department of financial institutions; “Licensee” means a person licensed to provide deferred presentment services pursuant to this chapter; “Payment instrument”: 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 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 “Person” means an individual, group of individuals, partnership, association, corporation, or any other business unit or legal entity. Acts 1997, ch. 255, § 3; 1999, ch. 14, § 1; 2011, ch. 205, §§ 1, 2. Compiler's Notes. Acts 1997, ch. 255, § 22 provided that §§ 45-17-101 — 45-17-119 were to be repealed at 12:01 a.m. October 1, 1999; however, Acts 1999, ch. 14, § 1 deleted the repeal provisions in Acts 1997, ch. 255, § 22, effective March 17, 1999. Attorney General Opinions. Definition of the term "check" in the Deferred Presentment Services Act. OAG 11-40, 2011 Tenn. AG LEXIS 42 (4/28/11).