§ 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 […]
§ 56-19-119. 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 […]
§ 56-19-120. Reinsurance — Restrictions
Any such company organized or admitted to transact insurance in this state may reinsure any part or all of any risk or risks, in any insurance company or insurer licensed in this state; provided, that no such reinsurance shall be effected with any company or insurer not licensed in this state that has been disapproved […]
§ 56-19-121. Resident Agent Not Required
Any law requiring that policies be countersigned and delivered through a resident agent shall not apply to any policy of the mutual company on which no commission shall be paid to any local agent.
§ 56-19-112. Voting Rights of Members
Every member of the company shall be entitled to one (1) vote, or to a number of votes based upon the insurance in force, the number of policies held or the amount of premiums paid, as may be provided in the bylaws.
§ 56-19-113. Maximum Premium to Be Stated — Cash and Contingent Premiums
The maximum premium payable by any member shall be expressed in the policy or in the application for the insurance. The maximum premium may be a cash premium and the contingent premium not less than the cash premium, or may be solely a cash premium. No policy shall be issued for a cash premium without […]
§ 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.