No domestic life insurance company shall invest or loan its funds in any manner except as provided in §§ 56-3-301 — 56-3-306, except that investments of domestic life insurance companies may include electronic computer or data processing machines or systems heretofore or hereafter purchased for use in connection with the business of the insurer; provided, that the machine or system shall have an original cost of at least fifty thousand dollars ($50,000), and that the amortized value of the machine or system at the end of any calendar year shall not be greater than the original purchase price less ten percent (10%) for each completed year after purchase.
Tenn. Code Ann. § 56-3-307
Investments or loans of domestic life insurance companies limited
Known as the Tennessee Insurance Law
The act spans §§ 56–56 (1,220 sections).
Acts 1907, ch. 458, § 4; Shan., § 3348a32; Code 1932, § 6207; 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.