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Current as of January 02, 2024 | Updated by FindLaw Staff
(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.
Cite this article: FindLaw.com - Tennessee Code Title 35. Fiduciaries and Trust Estates § 35-2-102 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-35-fiduciaries-and-trust-estates/tn-code-sect-35-2-102/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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