48-101-102 - Part definitions. - Tennessee Statutes

48-101-102. Part definitions.

As used in this part, unless the context otherwise requires:

     (1)  “Board of directors” means the board of directors of a corporation created under this part;

     (2)  “Corporation” means a development credit corporation created under this part;

     (3)  “Financial institution” means any banking corporation or institution, trust company, savings bank, cooperative bank, savings and loan association, insurance company, or related corporation, partnership, foundation, or other institution engaged primarily in lending or investing funds;

     (4)  “Loan limit” means, for any member, the maximum amount permitted to be outstanding at one (1) time on loans made by such member to the corporation, as determined under the provisions of this part; and

     (5)  “Member” means any financial institution authorized to do business within this state which shall undertake to lend money to a corporation created under this part, upon its call, and in accordance with the provisions of this part.

[Acts 1959, ch. 170, § 2; T.C.A., §§ 48-1702, 48-3-102.]