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Tenn. Code Ann. § 56-16-208

Assessments — Time limit for paying

Known as the Exchange or Reciprocal Insurance Act

The act spans §§ 56-16-101–56-16-210 (29 sections).

Acts 1990, ch. 728, § 2; T.C.A. § 56-16-308.

Every subscriber of a domestic reciprocal having contingent assessment liability shall be liable for and shall pay the subscriber's share of any assessment computed in accordance with § 56-16-207 if, while the policy is in force or within one (1) year after its termination, the subscriber is notified:

(1) By the attorney of the attorney's intention to levy the assessment; or

(2) That delinquency proceedings have been commenced against the reciprocal under chapter 9 of this title, and the department or receiver intends to levy an assessment.

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.