Restrictions on insurance companies and their affiliates
Known as the Tennessee Small Business Investment Company Credit Act
The act spans §§ 4–4 (15 sections).
Acts 2009, ch. 610, § 8.
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.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.