In addition to the paid up capital stock or surplus as required under §§ 56-2-103 and 56-2-114(a), all insurance companies doing business in this state shall possess and maintain bona fide surplus funds in the amount of one million dollars ($1,000,000), except for insurance companies authorized under § 56-2-114(b), which shall possess and maintain bona fide surplus funds equaling in amounts not less than fifty percent (50%) of the capital stock or surplus otherwise required by § 56-2-114(b).
Tenn. Code Ann. § 56-2-115
Additional surplus requirement
Known as the Tennessee Insurance Law
The act spans §§ 56–56 (1,220 sections).
Acts 1895, ch. 160, § 9, par. 2; 1901, ch. 131, § 1; 1907, ch. 493, § 1; Shan., § 3292; Code 1932, § 6107; Acts 1947, ch. 223, § 1; 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.