Tenn. Code § 66-2-301

Current through Acts 2023-2024, ch. 1069

Section 66-2-301 - [Effective Until 1/1/2025] Part definitions

As used in this part:

(1) "Real property" means one (1) or more defined parcels or tracts of land or interests, benefits, and rights inherent in the ownership of real estate, including easements, water rights, agricultural land, or any other interest in real property;

(2) "Sanctioned foreign business" means:

(A) A corporation incorporated under the laws of a foreign country of a sanctioned foreign government;

(B) A business entity whether or not incorporated, in which a majority interest is owned directly or indirectly by sanctioned nonresident aliens. As used in this subdivision (2)(B), the determination of "owned," in terms of ownership or control of a foreign business, is not affected by legal entities, including, but not limited to, trusts, holding companies, multiple corporations, and other business arrangements; or

(C) A corporation or business entity, whether or not incorporated, that is identified on the office of foreign assets control of the U.S. department of the treasury's sanctions programs and country information list;

(3) "Sanctioned foreign government" means a government other than the government of the United States, its states, its territories, or its possessions, that is identified by the office of foreign assets control of the U.S. department of the treasury's sanctions programs and country information list; and

(4)

(A) "Sanctioned nonresident alien" means an individual who is either:

(i) A citizen of a sanctioned foreign government; or

(ii) A person identified on the office of foreign assets control of the U.S. department of the treasury's sanctions programs and country information list; and

(B) "Sanctioned nonresident alien" does not include:

(i) A citizen of the United States; or

(ii) A person lawfully admitted into the United States for permanent residence by the United States immigration and naturalization service, even if such status is conditional.

T.C.A. § 66-2-301

Added by 2023 Tenn. Acts, ch. 369, s 3, eff. 7/1/2023.

This section is set out more than once due to postponed, multiple, or conflicting amendments.