Tenn. Code Ann. § 56-13-418

Applicability of insolvency provisions

Known as the Revised Tennessee Captive Insurance Act

The act spans §§ 56-13-101 to 56-13-418 (59 sections).

Acts 2011, ch. 468, § 1.

(1) Except as otherwise provided in this section, chapter 9 of this title shall apply in full to an SPFC.

(2) Upon any order of supervision, rehabilitation, or liquidation of an SPFC, the receiver shall manage the assets and liabilities of the SPFC pursuant to this part.

(3) Notwithstanding chapter 9 of this title: No asset of a protected cell shall be used to pay any expenses or claims other than those attributable to such protected cell; and

(4) An SPFC's capital and surplus shall, at all times, be available to pay any expenses of or claims against the SPFC.

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.