§ 56-19-122. Companies Governed by This Chapter Not Subject to Any Other Law
Except as provided in this chapter, insurance companies organized or admitted to do business in this state under this chapter are not subject to any other law of this state governing insurance companies unless they are specifically mentioned or clearly included in its terms.
§ 56-19-123. Violation of Chapter — Penalty — Revocation of License
Any person or corporation violating this chapter commits a Class C misdemeanor, and the commissioner has the power to revoke the license of any such person or corporation.
§ 56-19-124. Requirements as to Deposits and Surplus
Each and every requirement and provision of §§ 56-2-101 — 56-2-104, 56-2-113 — 56-2-115, 56-2-201 and 56-2-301 relating to the kinds of business as defined in those sections, required deposits with the commissioner, and required surplus of insurance companies, shall be fully and specifically applicable to all insurance companies organized under this chapter.
§ 56-19-125. State Malpractice Insurance Companies Becoming State Stock Malpractice Insurance Companies — Definitions — Plans
A state malpractice insurance company organized under Tennessee law may become a state stock malpractice insurance company operating under this chapter pursuant to a plan and procedure that is approved in advance by the commissioner. The commissioner shall not approve any such plan or procedure unless: The plan or procedure is equitable to the insurer’s […]
§ 56-19-114. Investment of Assets
No such company shall invest any of its assets except in accordance with the laws of this state relating to the investment of the assets of domestic stock insurance companies transacting the same kind of insurance.
§ 56-19-115. Unearned Premium and Other Reserves — Maintenance
The mutual company shall maintain unearned premium and other reserves separately for each kind of insurance, upon the same basis as that required of domestic stock insurance companies transacting the same kind of insurance, and the funds earned by each kind of insurance shall be kept separate and shall not be available to pay losses […]
§ 56-19-116. Assets Not Equal to Unearned Premium Reserve and Other Liabilities — Assessment of Members — Increase
A mutual company not possessed of assets at least equal to the unearned premium reserve and other liabilities shall make an assessment upon its members liable to assessment to provide for the deficiency, the assessment to be against each such member in proportion to the liability as expressed in the member’s policy; provided, that the […]
§ 56-19-117. Advancements
Any director, officer or member of any such company, or any other person, may advance to the company any sum or sums of money necessary for the purpose of its business or to enable it to comply with any of the requirements of the law, and the money and the interest thereon as may have […]
§ 56-19-118. Foreign Mutual Insurance Companies Admitted if Solvent — Requirements for Admission
Any mutual insurance company organized outside of this state and authorized to transact the business of insurance on the mutual plan in any state, district, or territory, shall be admitted and licensed, subject to the approval of the commissioner as provided for in this chapter, to transact the kinds of insurance authorized by its charter […]
§ 56-19-119. Annual Report — Examination — Information Required
Every mutual insurance company shall make its annual report in such form and submit to such examinations and furnish such information as may be required by the commissioner. As far as practicable, the examinations of foreign mutual insurance companies shall be made in cooperation with the insurance departments of other states and the forms of […]