Neither the retirement of its capital stock nor any other action taken under this chapter shall affect existing suits, rights or contracts of the corporation. Any deposit made by the corporation under any requirement of an applicable statute of this state shall be retained by the commissioner in trust for the benefit and security of all of the policyholders of the corporation.
Tenn. Code Ann. § 56-18-115
Existing contracts not affected by conversion of stock life insurance company into mutual
Known as the Tennessee Insurance Law
The act spans §§ 56–56 (1,220 sections).
Acts 1949, ch. 91, § 6; 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.