The company has the further right to insure the lives of persons, and engage in the general business of life insurance, and, coupled with that right, the right to grant and sell annuity, or contract loans based on life annuity, with benefit of survivorship, and accept and execute all legal trusts that may be confided to it.
Tenn. Code Ann. § 56-2-203
Life insurance — Annuity or contract loans — Trusts accepted and executed
Known as the Tennessee Insurance Law
The act spans §§ 56–56 (1,220 sections).
Applied in 1 court decision — leading case 706 F. Supp. 1309 - Nichols v. Merrill Lynch, Pierce, Fenner & Smith (1989)
Most recently applied in 706 F. Supp. 1309 - Nichols v. Merrill Lynch, Pierce, Fenner & Smith (January 1989)
Acts 1875, ch. 142, § 10; Shan., § 2261; Code 1932, § 3974; T.C.A
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.