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Tenn. Code Ann. § 12-12-103

Chapter definitions

Known as the Iran Divestment Act

The act spans §§ 12-12-101 to 12-12-113 (13 sections).

Acts 2016, ch. 817, § 1.

As used in this chapter:

(1) “Energy sector of Iran” means activities to develop petroleum or natural gas resources or nuclear power in Iran;

(2) “Financial institution” means the term as used in Section 14 of the Iran and Libya Sanctions Act of 1996 (Public Law 104 - 172; 50 U.S.C. § 1701 note);

(3) “Investment” means a commitment or contribution of funds or property, whatever the source, a loan or other extension of credit, and the entry into or renewal of a contract for goods or services. “Investment” does not include indirect beneficial ownership through index funds, commingled funds, limited partnerships, derivative instruments, or the like;

(4) “Iran” includes the government of Iran and any agency or instrumentality of Iran;

(5) “Person” means any of the following: A natural person, corporation, company, limited liability company, business association, partnership, society, trust, or any other nongovernmental entity, organization, or group;

(6) Any governmental entity or instrumentality of a government, including a multilateral development institution, as defined in Section 1701(c)(3) of the International Financial Institutions Act (22 U.S.C. § 262r(c)(3)); or

(7) Any successor, subunit, parent entity, or subsidiary of, or any entity under common ownership or control with, any entity described in subdivisions (5)(A) and (B); and

(8) “State agency” means each state board, commission, department, executive department or office, institution, and instrumentality.

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.