Section 1320-03-02-.14 - EXEMPT SHORT-TERM INTEREST(1) For the purpose of T.C.A. § 67-2-101, which provides that the term "bond" shall not include ordinary commercial paper, trade acceptance, etc., maturing in six (6) months or less from the date of issuance, the six (6) month period shall be calculated as follows: (a) By excluding the date of issuance and counting forward one hundred and eighty-two (182) days, and if the one hundred and eighty-second day falls on a Saturday, a Sunday, or a legal holiday, by including the next following day; or(b) By beginning on the date of issuance and including the corresponding date in the sixth (6th) succeeding month, except where the sixth (6th) succeeding month does not have a corresponding date, in which case the corresponding date shall be deemed to be the last date of the sixth (6th) succeeding month; whichever is greater.Tenn. Comp. R. & Regs. 1320-03-02-.14
Original rule filed March 1, 1983; effective June 15, 1983. Amendment filed May 11, 1990; effective August 29, 1990.Authority: T.C.A. §§ 67-1-102, 67-2-101, and 67-2-113.