(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.
Tennessee Legal Code