Whenever it appears to the commissioner that any person has committed a violation of this part that so impairs the financial condition of a domestic insurer or of a health maintenance organization as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, enrollees, providers, creditors, shareholders or the public, the commissioner may proceed as provided in chapter 9 of this title to take possession of the property of the domestic insurer or health maintenance organization and to conduct its business.
Tenn. Code Ann. § 56-11-112
Assumption of control by commissioner — Insolvency
Known as the Tennessee Insurance Law
The act spans §§ 56–56 (1,220 sections).
Acts 1986, ch. 572, § 12; 2000, ch. 708, § 3j; T.C.A. § 56-11-212; Acts 2014, ch. 583, § 1.
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.