All acquisition and administrative expenses in connection with the hospital service corporations shall at all times be limited after the first year of operation to not exceed twenty-five percent (25%) of the total net premium income of the corporation. All acquisition and administrative expenses shall be subject to the approval of the commissioner.
Tenn. Code Ann. § 56-29-110
Acquisition and administrative expenses — Limitation — Approval
Known as the Tennessee Insurance Law
The act spans §§ 56-10-101 to 56-8-206 (1,220 sections).
Acts 1949, ch. 234, § 13; 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.