# Tenn. Code Ann. § 48-101-102: Part definitions

> Tennessee · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_TN_T48_C101_S48-101-102

## Section

- **Citation:** Tenn. Code Ann. § 48-101-102
- **Heading:** Part definitions
- **Jurisdiction:** Tennessee
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** TN Code / Title 48 / Chapter 101 / Section 48-101-102

## Text

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

## Nearby sections

- [Tenn. Code Ann. § 48-101-101 Short title](https://www.frixlaw.com/law-library/statutes/STATE_TN_T48_C101_S48-101-101.md)
- [Tenn. Code Ann. § 48-101-102 Part definitions](https://www.frixlaw.com/law-library/statutes/STATE_TN_T48_C101_S48-101-102.md)
- [Tenn. Code Ann. § 48-101-103 Persons entitled to incorporate - Certificate of incorporation](https://www.frixlaw.com/law-library/statutes/STATE_TN_T48_C101_S48-101-103.md)
- [Tenn. Code Ann. § 48-101-104 Completion of corporate entity](https://www.frixlaw.com/law-library/statutes/STATE_TN_T48_C101_S48-101-104.md)
- [Tenn. Code Ann. § 48-101-105 Powers](https://www.frixlaw.com/law-library/statutes/STATE_TN_T48_C101_S48-101-105.md)
- [Tenn. Code Ann. § 48-101-106 First meeting and organization](https://www.frixlaw.com/law-library/statutes/STATE_TN_T48_C101_S48-101-106.md)
- [Tenn. Code Ann. § 48-101-107 Board of directors and officers](https://www.frixlaw.com/law-library/statutes/STATE_TN_T48_C101_S48-101-107.md)
- [Tenn. Code Ann. § 48-101-108 Right to purchase or transfer capital stock or obligations of corporation - Membership](https://www.frixlaw.com/law-library/statutes/STATE_TN_T48_C101_S48-101-108.md)
- [Tenn. Code Ann. § 48-101-109 No preemptive rights respecting unissued stock](https://www.frixlaw.com/law-library/statutes/STATE_TN_T48_C101_S48-101-109.md)
- [Tenn. Code Ann. § 48-101-110 Membership of financial institutions](https://www.frixlaw.com/law-library/statutes/STATE_TN_T48_C101_S48-101-110.md)
- [Tenn. Code Ann. § 48-101-111 Duration of membership - Withdrawal](https://www.frixlaw.com/law-library/statutes/STATE_TN_T48_C101_S48-101-111.md)
- [Tenn. Code Ann. § 48-101-112 Powers of stockholders and members - Voting](https://www.frixlaw.com/law-library/statutes/STATE_TN_T48_C101_S48-101-112.md)
- [Tenn. Code Ann. § 48-101-113 Loans to the corporation](https://www.frixlaw.com/law-library/statutes/STATE_TN_T48_C101_S48-101-113.md)
- [Tenn. Code Ann. § 48-101-114 Obligations of corporation are legal investments for members](https://www.frixlaw.com/law-library/statutes/STATE_TN_T48_C101_S48-101-114.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_TN_T48_C101_S48-101-102. Check the current official text before relying on it. Not legal advice.