For the purpose of determining the financial condition of any assuming insurer, the insurer shall be charged with an amount in its unearned premium liability equal to the amount of the deductions specified in § 56-23-103, and in its valuation reserve liability with an amount at least equal to the amount that it would be required to maintain if it were the direct insurer of the assumed risks on the basis specified in the reinsurance agreement.
Tenn. Code Ann. § 56-23-104
Assuming insurers — Determination of financial condition
Known as the Tennessee Insurance Law
The act spans §§ 56-10-101 to 56-8-206 (1,220 sections).
Acts 1973, ch. 293, § 4; T.C.A., § 56-4204.
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.