§ 4-28-107. Restrictions on Insurance Companies and Their Affiliates

An insurance company or affiliate of an insurance company shall not, directly or indirectly:

1. Beneficially own, whether through rights, options, convertible interest or otherwise, fifteen percent (15%) or more of the voting securities or other voting ownership interest of a TNInvestco;
2. Manage a TNInvestco, other than exercising remedies for default; or
3. Control the direction of investments for a TNInvestco.