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Tenn. Code Ann. § 56-15-101

General powers — Right to become sureties — Banking business prohibited

Known as the Tennessee Insurance Law

The act spans §§ 56–56 (1,220 sections).

Applied in 1 court decision — leading case In Re International Fidelity Insurance Co. (1998)

Most recently applied in In Re International Fidelity Insurance Co. (September 1998)

Acts 1895, ch. 113, § 2; Shan., § 2213; mod

Fidelity or bonding corporations have the power to execute as surety, and guarantee the performance of:

(1) All bonds, stipulations, or undertakings conditioned for the faithful performance of any duty, public or private, including the bonds and obligations of such a character, as well of private individuals as of public officers, whether state, county, or municipal;

(2) All bonds and obligations required to be executed in the course of judicial proceedings in any of the courts of the state; and

(3) All bonds of administrators, executors, guardians and trustees, and of all persons acting in a fiduciary capacity, whether acting under the authority of any court of this state, or by virtue of a deed, will or other instrument executed by a private individual or corporation, or by virtue of any appointment to any position of trust or confidence by any private individual or corporation; provided, that no fidelity or bonding company shall receive deposits subject to check, or do a general banking business. A fidelity or bonding company that receives deposits subject to check, or does a general banking business commits a Class C misdemeanor.

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.