§ 12-12-103 — Chapter definitions

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) A natural person, corporation, company, limited liability company, business association, partnership, society, trust, or any other nongovernmental entity, organization, or group; (B) 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 (C) 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 (6) "State agency" means each state board, commission, department, executive department or office, institution, and instrumentality.

Legislative History

Added by 2016 Tenn. Acts, ch. 817, s 1, eff. 7/1/2016.