The corporate powers of a mutual life insurance corporation shall be exercised by, and its business and affairs shall be under the control and government of, a board of directors composed of not less than fifteen (15) nor more than twenty-one (21) natural persons who are policyholders and who are at least eighteen (18) years of age, and at least seven (7) of whom are residents and citizens of this state.
Tenn. Code Ann. § 56-18-103
Board of directors — Powers — Qualifications
Known as the Tennessee Insurance Law
The act spans §§ 56–56 (1,220 sections).
Acts 1949, ch. 91, § 8; C
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.