Part Definitions

  1. Law
  2. Tennessee Code
  3. Securities, Corporations and Associations
  4. Special Purpose Corporations and Associations
  5. Development Credit Corporation Act
  6. Part Definitions

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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.


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