A reciprocal may return to its present or past subscribers, or both, any savings or credits accruing to their accounts. The distribution shall not unfairly discriminate between classes of risks or policies, or between subscribers. However, the distribution may vary for classes of subscribers based upon the experience of those classes.
Tenn. Code Ann. § 56-16-114
Return of savings or credits to subscribers — Distribution
Known as the Exchange or Reciprocal Insurance Act
The act spans §§ 56–56 (29 sections).
Acts 1990, ch. 728, § 2; T.C.A. § 56-16-214.
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.