Tennessee § 47-24-101 - Definition.
Full text of Tennessee Tennessee Code Annotated § 47-24-101 — Definition., with citation guidance and answers to common questions.
§ 47-24-101. Definition.
“Equity participations” means loan transactions in which the lender, in addition to interest and other amounts received pursuant to and rights resulting from the loan transaction, has the right, subject to § 47-24-102 , to participate in the borrower's enterprise or venture to the extent described in a written agreement between the lender and the borrower, the participation including, but not limited to, having or exercising the right to acquire equity in the enterprise or venture, and having or exercising the right to receive a percentage of the rents, profits, revenues, sales or refinancing proceeds, or other similar assets represented by the borrower's enterprise or venture, as defined in the written agreement between the lender and the borrower; provided, that no equity participation in agricultural land shall be entered into nor shall any equity participation be secured in any part by agricultural land. Acts 1981, ch. 173, § 1; 1986, ch. 821, § 1. Cross-References. Open-end mortgages and mortgages securing future advances, title 47, ch. 28. Law Reviews. Selected Tennessee Legislation of 1986, 54 Tenn. L. Rev. 457 (1987).
Frequently Asked Questions About Tennessee § 47-24-101
What does Tennessee Code Annotated § 47-24-101 cover?
Section 47-24-101 ("Definition.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 47-24-101?
A common citation format is "Tennessee Code Annotated § 47-24-101" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 47-24-101 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.