Part Definitions

  1. Law
  2. Tennessee Code
  3. Education
  4. Financial Aid
  5. Cooperative Scholarship Plans
  6. Part Definitions

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

  1. “Commissioner” means the commissioner of commerce and insurance;
  2. “Corporation” means a corporation or association not for profit authorized to administer a plan in the state;
  3. “Fiscal year” means the period beginning January 1 and ending December 31 of each year;
  4. “Member” means any person who is accepted as a member by the plan and who may later become eligible for a scholarship as provided in the charter and bylaws of the plan;
  5. “Plan” means any educational cooperative plan or scholarship plan subject to this part;
  6. “Recipient of scholarship” means any member who has been granted a scholarship by the plan;
  7. “Scholarship” means educational benefits payable pursuant to a plan which shall not be deemed to be distribution of income to a member of a corporation; and
  8. “Trustee of member” means the person or persons, including corporations, partnerships or other entities, that, on behalf of a minor, executes an application for membership in the plan.


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