As used in this chapter, unless the context otherwise requires:(1) 'Check' means any payment instrument, including any customer authorization for electronic payment;(2) 'Commissioner' means the commissioner of financial institutions or the commissioner's designated representative;(3) 'Deferred presentment services' means a transaction pursuant to a written agreement involving the following combination of activities in exchange for a fee: (A) Accepting a check dated on the date it was written; and(B) Holding the check for a period of time prior to presentment for payment or deposit;(4) 'Department' means the department of financial institutions;(5) 'Licensee' means a person licensed to provide deferred presentment services pursuant to this chapter;(6) 'Payment instrument': (A) Means a check, draft, warrant, money order, traveler's check or other instrument for payment of money, whether or not negotiable, and also includes any authorization for electronic payment of money; and(B) Does not include an instrument that is redeemable by the issuer in merchandise or service, a credit card voucher, or a letter of credit; and(7) 'Person' means an individual, group of individuals, (B) Does not include an instrument that is redeemable by the issuer in merchandise or service, a credit card voucher, or a letter of credit; and(7) 'Person' means an individual, group of individuals, partnership, association, corporation, or any other business unit or legal entity. Acts 1997 , ch. 255, § 3; 1999, ch. 14, §1; 2011 , ch. 205, §§ 1, 2.
Tennessee Legal Code