{"data":{"id":"us-tn/tenn.-code-ann.-47-18-5502","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 47-18-5502","heading":"Part definitions","body":"In this part: (1) \"Administrator\" means the commissioner of commerce and insurance; (2) \"Affiliate\": (A) With respect to an individual, means: (i) The spouse of the individual; (ii) A sibling of the individual or the spouse of a sibling; (iii) An individual or the spouse of an individual who is a lineal ancestor or lineal descendant of the individual or the individual's spouse; (iv) An aunt, uncle, great aunt, great uncle, first cousin, niece, nephew, grandniece, or grandnephew, whether related by the whole or the half blood or adoption, or the spouse of any of them; or (v) Any other individual occupying the residence of the individual; and (B) With respect to an entity, means: (i) A person that directly or indirectly controls, is controlled by or is under common control with the entity; (ii) An officer of, or an individual performing similar functions with respect to, the entity; (iii) A director of, or an individual performing similar functions with respect to, the entity; (iv) Subject to adjustment of the dollar amount pursuant to § 47-18-5532(f) , a person that receives or received more than twenty-five thousand dollars ($25,000) from the entity in either the current year or the preceding year or a person that owns more than ten percent (10%) of, or an individual who is employed by or is a director of, a person that receives or received more than twenty-five thousand dollars ($25,000) from the entity in either the current year or the preceding year; (v) An officer or director of, or an individual performing similar functions with respect to, a person described in this subdivision (2)(B); (vi) The spouse of, or an individual occupying the residence of, an individual described in subdivisions (2)(B)(i)-(v); or (vii) An individual who has the relationship specified in subdivision (2)(A)(iv) to an individual or the spouse of an individual described in subdivisions (2)(B)(i)-(v); (3) \"Agreement\" means an agreement between a provider and an individual for the performance of debt-management services; (4) \"Bank\" means a financial institution, including a commercial bank, savings bank, savings and loan association, credit union and trust company, engaged in the business of banking, chartered under federal or state law, and regulated by a federal or state banking regulatory authority; (5) \"Business address\" means the physical location of a business, including the name and number of a street; (6) \"Certified counselor\" means an individual certified by a training program or certifying organization, approved by the administrator, that authenticates the competence of individuals providing education and assistance to other individuals in connection with debt-management services in which an agreement contemplates that creditors will reduce finance charges or fees for late payment, default or delinquency; (7) \"Certified debt specialist\" means an individual certified by a training program or certifying organization, approved by the administrator, that authenticates the competence of individuals providing education and assistance to other individuals in connection with debt-management services in which an agreement contemplates that creditors will settle debts for less than the full principal amount of debt owed; (8) \"Concessions\" means assent to repayment of a debt on terms more favorable to an individual than the terms of the contract between the individual and a creditor; (9) \"Day\" means calendar day; (10) \"Debt-management services\" means services as an intermediary between an individual and one (1) or more creditors of the individual for the purpose of obtaining concessions, but does not include: (A) Legal services provided in an attorney-client relationship by an attorney licensed or otherwise authorized to practice law in this state; (B) Accounting services provided in an accountant-client relationship by a certified public accountant licensed to provide accounting services in this state; or (C) Financial-planning services provided in a\nose of obtaining concessions, but does not include: (A) Legal services provided in an attorney-client relationship by an attorney licensed or otherwise authorized to practice law in this state; (B) Accounting services provided in an accountant-client relationship by a certified public accountant licensed to provide accounting services in this state; or (C) Financial-planning services provided in a financial planner-client relationship by a member of a financial-planning profession whose members the administrator, by rule, determines are: (i) Licensed by this state; (ii) Subject to a disciplinary mechanism; (iii) Subject to a code of professional responsibility; and (iv) Subject to a continuing-education requirement; (11) \"Entity\" means a person other than an individual; (12) \"Good faith\" means honesty in fact and the observance of reasonable standards of fair dealing; (13) \"Person\" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture or any other legal or commercial entity. The term does not include a public corporation, government or governmental subdivision, agency or instrumentality; (14) \"Plan\" means a program or strategy in which a provider furnishes debt-management services to an individual and that includes a schedule of payments to be made by or on behalf of the individual and used to pay debts owed by the individual; (15) \"Principal amount of the debt\" means the amount of a debt at the time of an agreement; (16) \"Provider\" means a person that provides, offers to provide or agrees to provide debt-management services directly or through others; (17) \"Record\" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form; (18) \"Settlement fee\" means a charge imposed on or paid by an individual in connection with a creditor's assent to accept in full satisfaction of a debt an amount less than the principal amount of the debt; (19) \"Sign\" means, with present intent to authenticate or adopt a record: (A) To execute or adopt a tangible symbol; or (B) To attach to or logically associate with the record an electronic sound, symbol or process; (20) \"State\" means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States; and (21) \"Trust account\" means an account held by a provider that is: (A) Established in an insured bank; (B) Separate from other accounts of the provider or its designee; (C) Designated as a trust account or other account designated to indicate that the money in the account is not the money of the provider or its designee; and (D) Used to hold money of one (1) or more individuals for disbursement to creditors of the individuals. Acts 2009, ch. 469, § 1.\nIn this part:\n(1) \"Administrator\" means the commissioner of commerce and insurance;\nthe provider or its designee; (C) Designated as a trust account or other account designated to indicate that the money in the account is not the money of the provider or its designee; and (D) Used to hold money of one (1) or more individuals for disbursement to creditors of the individuals. Acts 2009, ch. 469, § 1.\nIn this part:\n(1) \"Administrator\" means the commissioner of commerce and insurance;\n(2) \"Affiliate\": (A) With respect to an individual, means: (i) The spouse of the individual; (ii) A sibling of the individual or the spouse of a sibling; (iii) An individual or the spouse of an individual who is a lineal ancestor or lineal descendant of the individual or the individual's spouse; (iv) An aunt, uncle, great aunt, great uncle, first cousin, niece, nephew, grandniece, or grandnephew, whether related by the whole or the half blood or adoption, or the spouse of any of them; or (v) Any other individual occupying the residence of the individual; and (B) With respect to an entity, means: (i) A person that directly or indirectly controls, is controlled by or is under common control with the entity; (ii) An officer of, or an individual performing similar functions with respect to, the entity; (iii) A director of, or an individual performing similar functions with respect to, the entity; (iv) Subject to adjustment of the dollar amount pursuant to § 47-18-5532(f) , a person that receives or received more than twenty-five thousand dollars ($25,000) from the entity in either the current year or the preceding year or a person that owns more than ten percent (10%) of, or an individual who is employed by or is a director of, a person that receives or received more than twenty-five thousand dollars ($25,000) from the entity in either the current year or the preceding year; (v) An officer or director of, or an individual performing similar functions with respect to, a person described in this subdivision (2)(B); (vi) The spouse of, or an individual occupying the residence of, an individual described in subdivisions (2)(B)(i)-(v); or (vii) An individual who has the relationship specified in subdivision (2)(A)(iv) to an individual or the spouse of an individual described in subdivisions (2)(B)(i)-(v);\n(A) With respect to an individual, means: (i) The spouse of the individual; (ii) A sibling of the individual or the spouse of a sibling; (iii) An individual or the spouse of an individual who is a lineal ancestor or lineal descendant of the individual or the individual's spouse; (iv) An aunt, uncle, great aunt, great uncle, first cousin, niece, nephew, grandniece, or grandnephew, whether related by the whole or the half blood or adoption, or the spouse of any of them; or (v) Any other individual occupying the residence of the individual; and\n(i) The spouse of the individual;\n(ii) A sibling of the individual or the spouse of a sibling;\n(iii) An individual or the spouse of an individual who is a lineal ancestor or lineal descendant of the individual or the individual's spouse;\n(iv) An aunt, uncle, great aunt, great uncle, first cousin, niece, nephew, grandniece, or grandnephew, whether related by the whole or the half blood or adoption, or the spouse of any of them; or\n(ii) A sibling of the individual or the spouse of a sibling;\n(iii) An individual or the spouse of an individual who is a lineal ancestor or lineal descendant of the individual or the individual's spouse;\n(iv) An aunt, uncle, great aunt, great uncle, first cousin, niece, nephew, grandniece, or grandnephew, whether related by the whole or the half blood or adoption, or the spouse of any of them; or\n(v) Any other individual occupying the residence of the individual; and\n(B) With respect to an entity, means: (i) A person that directly or indirectly controls, is controlled by or is under common control with the entity; (ii) An officer of, or an individual performing similar functions with respect to, the entity; (iii) A director of, or an individual performing similar functions with respect to, the entity; (iv) Subject to adjustment of the dollar amount pursuant to § 47-18-5532(f) , a person that receives or received more than twenty-five thousand dollars ($25,000) from the entity in either the current year or the preceding year or a person that owns more than ten percent (10%) of, or an individual who is employed by or is a director of, a person that receives or received more than twenty-five thousand dollars ($25,000) from the entity in either the current year or the preceding year; (v) An officer or director of, or an individual performing similar functions with respect to, a person described in this subdivision (2)(B); (vi) The spouse of, or an individual occupying the residence of, an individual described in subdivisions (2)(B)(i)-(v); or (vii) An individual who has the relationship specified in subdivision (2)(A)(iv) to an individual or the spouse of an individual described in subdivisions (2)(B)(i)-(v);\n(i) A person that directly or indirectly controls, is controlled by or is under common control with the entity;\n(ii) An officer of, or an individual performing similar functions with respect to, the entity;\n(iii) A director of, or an individual performing similar functions with respect to, the entity;\n(iv) Subject to adjustment of the dollar amount pursuant to § 47-18-5532(f) , a person that receives or received more than twenty-five thousand dollars ($25,000) from the entity in either the current year or the preceding year or a person that owns more than ten percent (10%) of, or an individual who is employed by or is a director of, a person that receives or received more than twenty-five thousand dollars ($25,000) from the entity in either the current year or the preceding year;\n(v) An officer or director of, or an individual performing similar functions with respect to, a person described in this subdivision (2)(B);\n(vi) The spouse of, or an individual occupying the residence of, an individual described in subdivisions (2)(B)(i)-(v); or\n(vii) An individual who has the relationship specified in subdivision (2)(A)(iv) to an individual or the spouse of an individual described in subdivisions (2)(B)(i)-(v);\n(3) \"Agreement\" means an agreement between a provider and an individual for the performance of debt-management services;\n(4) \"Bank\" means a financial institution, including a commercial bank, savings bank, savings and loan association, credit union and trust company, engaged in the business of banking, chartered under federal or state law, and regulated by a federal or state banking regulatory authority;\n(5) \"Business address\" means the physical location of a business, including the name and number of a street;\n(6) \"Certified counselor\" means an individual certified by a training program or certifying organization, approved by the administrator, that authenticates the competence of individuals providing education and assistance to other individuals in connection with debt-management services in which an agreement contemplates that creditors will reduce finance charges or fees for late payment, default or delinquency;\nd counselor\" means an individual certified by a training program or certifying organization, approved by the administrator, that authenticates the competence of individuals providing education and assistance to other individuals in connection with debt-management services in which an agreement contemplates that creditors will reduce finance charges or fees for late payment, default or delinquency;\n(7) \"Certified debt specialist\" means an individual certified by a training program or certifying organization, approved by the administrator, that authenticates the competence of individuals providing education and assistance to other individuals in connection with debt-management services in which an agreement contemplates that creditors will settle debts for less than the full principal amount of debt owed;\n(8) \"Concessions\" means assent to repayment of a debt on terms more favorable to an individual than the terms of the contract between the individual and a creditor;\n(9) \"Day\" means calendar day;\n(10) \"Debt-management services\" means services as an intermediary between an individual and one (1) or more creditors of the individual for the purpose of obtaining concessions, but does not include: (A) Legal services provided in an attorney-client relationship by an attorney licensed or otherwise authorized to practice law in this state; (B) Accounting services provided in an accountant-client relationship by a certified public accountant licensed to provide accounting services in this state; or (C) Financial-planning services provided in a financial planner-client relationship by a member of a financial-planning profession whose members the administrator, by rule, determines are: (i) Licensed by this state; (ii) Subject to a disciplinary mechanism; (iii) Subject to a code of professional responsibility; and (iv) Subject to a continuing-education requirement;\n(A) Legal services provided in an attorney-client relationship by an attorney licensed or otherwise authorized to practice law in this state;\n(B) Accounting services provided in an accountant-client relationship by a certified public accountant licensed to provide accounting services in this state; or\n(C) Financial-planning services provided in a financial planner-client relationship by a member of a financial-planning profession whose members the administrator, by rule, determines are: (i) Licensed by this state; (ii) Subject to a disciplinary mechanism; (iii) Subject to a code of professional responsibility; and (iv) Subject to a continuing-education requirement;\n(i) Licensed by this state;\n(ii) Subject to a disciplinary mechanism;\n(iii) Subject to a code of professional responsibility; and\n(iv) Subject to a continuing-education requirement;\n(11) \"Entity\" means a person other than an individual;\n(12) \"Good faith\" means honesty in fact and the observance of reasonable standards of fair dealing;\n(13) \"Person\" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture or any other legal or commercial entity. The term does not include a public corporation, government or governmental subdivision, agency or instrumentality;\n(14) \"Plan\" means a program or strategy in which a provider furnishes debt-management services to an individual and that includes a schedule of payments to be made by or on behalf of the individual and used to pay debts owed by the individual;\n(15) \"Principal amount of the debt\" means the amount of a debt at the time of an agreement;\n(16) \"Provider\" means a person that provides, offers to provide or agrees to provide debt-management services directly or through others;\n(17) \"Record\" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form;\nividual;\n(15) \"Principal amount of the debt\" means the amount of a debt at the time of an agreement;\n(16) \"Provider\" means a person that provides, offers to provide or agrees to provide debt-management services directly or through others;\n(17) \"Record\" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form;\n(18) \"Settlement fee\" means a charge imposed on or paid by an individual in connection with a creditor's assent to accept in full satisfaction of a debt an amount less than the principal amount of the debt;\n(19) \"Sign\" means, with present intent to authenticate or adopt a record: (A) To execute or adopt a tangible symbol; or (B) To attach to or logically associate with the record an electronic sound, symbol or process;\n(A) To execute or adopt a tangible symbol; or\n(B) To attach to or logically associate with the record an electronic sound, symbol or process;\n(20) \"State\" means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States; and\n(21) \"Trust account\" means an account held by a provider that is: (A) Established in an insured bank; (B) Separate from other accounts of the provider or its designee; (C) Designated as a trust account or other account designated to indicate that the money in the account is not the money of the provider or its designee; and (D) Used to hold money of one (1) or more individuals for disbursement to creditors of the individuals.\n(A) Established in an insured bank;\n(B) Separate from other accounts of the provider or its designee;\n(C) Designated as a trust account or other account designated to indicate that the money in the account is not the money of the provider or its designee; and\n(D) Used to hold money of one (1) or more individuals for disbursement to creditors of the individuals.","path":["TN Code","Title 47","Chapter 18"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_tn_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:26Z","sha256":"93dce3e6267b7fbb60f4c8426f3e69ef40f2f4a3d71cb020260f7ce63ae3b5b4","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-47-18-5501","next":"us-tn/tenn.-code-ann.-47-18-5503"},"notice":"GroundRules: Original legal text. Not legal advice."}