Tenn. Code Ann. § 45-2-214

Time for approval or denial of application — Conditions for approval

Acts 1969, ch. 36, § 1 (3.312); 1973, ch. 294, § 6; T.C.A., § 45-214; Acts 1996, ch. 768, § 13.

The commissioner shall approve or deny the application for a certificate of authority within thirty (30) days after the application has been filed. The commissioner shall approve the application if:

(1) The capital and surplus have been fully paid in cash;

(2) Appropriate bylaws have been adopted;

(3) Any conditions imposed by the commissioner in granting the charter have been fulfilled;

(4) The requirements of this chapter and chapter 1 of this title have been satisfied; and

(5) An amount of fidelity bond coverages satisfactory to the commissioner is in force.

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.