Notwithstanding the provisions contained in § 56-2-104 to the contrary, guaranty capital securities, in amounts equal to the requirements of § 56-2-104(a)(4), must be deposited with the commissioner of commerce and insurance for the protection of the policyholders and creditors of the company in this state. Companies not having guaranty capital securities must deposit securities equal to ten percent (10%) of net written premiums, annually, not to exceed the requirements of § 56-2-104(a)(4).
Tenn. Code Ann. § 56-21-102
Deposit of securities
Known as the Tennessee Insurance Law
The act spans §§ 56-10-101 to 56-8-206 (1,220 sections).
Acts 1907, ch. 461, § 2; Shan., § 3369a6; Acts 1921, ch. 160, § 2; Code 1932, § 6257; Acts 1945, ch. 105, § 2; 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.