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Current as of January 02, 2024 | Updated by Findlaw Staff
As used in this part:
(1) “Assign” or “assignment” means a financial institution's policy, process, or practice that labels, links, or otherwise associates a firearms code with a merchant or a payment card transaction in a manner that allows the financial institution or another entity facilitating or processing the payment card transaction to identify whether a merchant is a firearms retailer or whether a transaction involves the sale of firearms or ammunition;
(2) “Customer” means an individual or entity engaged in a payment card transaction facilitated or processed by a financial institution;
(3) “Financial institution” means an individual or entity other than a merchant involved in facilitating or processing a payment card transaction, including a bank, savings and loan association, state credit union, state trust company, acquirer, payment card issuer, payment card network, payment gateway, or payment card processor;
(4) “Firearm”:
(A) Means a deadly weapon capable of expelling or propelling one (1) or more projectiles by the action of an explosive or combustible propellant; and
(B) Includes a firearm component or accessory;
(5) “Firearms code” means a merchant category code approved by the International Organization for Standardization or an equivalent successor organization that is specifically assigned to a firearms retailer;
(6) “Firearms retailer” means an individual or entity that is lawfully engaged, from a physical place of business in this state, in selling or trading firearms, antique firearms, or ammunition to be used in firearms or antique firearms;
(7) “Government entity” means this state, a political subdivision of this state, or any court, agency, or instrumentality of this state;
(8) “Payment card” means a credit card, charge card, debit card, or another card that is issued to an authorized card user and allows the user to purchase goods or services from a merchant; and
(9) “Payment card transaction” means a transaction in which a payment card is accepted as payment.
Cite this article: FindLaw.com - Tennessee Code Title 45. Banks and Financial Institutions § 45-2-2202 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-45-banks-and-financial-institutions/tn-code-sect-45-2-2202/
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 before relying on it for your legal needs.
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