35-2-102 - Chapter definitions. - Tennessee Statutes

35-2-102. Chapter definitions.

(a)  In this chapter, unless the context otherwise requires:

     (1)  “Bank” includes any person or association of persons, whether incorporated or not, carrying on the business of banking;

     (2)  “Fiduciary” includes a trustee under any trust, expressed, implied, resulting or constructive, executor, administrator, personal representative, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate;

     (3)  “Person” includes a corporation, partnership, or other association, or two (2) or more persons having a joint or common interest;

     (4)  “Principal” includes any person to whom a fiduciary as such owes an obligation; and

     (5)  “Savings institution” includes a federal or state savings and loan association or savings bank.

(b)  A thing is done “in good faith,” within the meaning of this chapter, when it is in fact done honestly, whether it is done negligently or not.

[Acts 1953, ch. 82, § 1 (Williams, § 9596.18); T.C.A. (orig. ed.), § 35-202; Acts 1985, ch. 167, § 1; 1988, ch. 854, § 13.]