Any insurance company may deposit and maintain on deposit with the state treasurer, securities as defined in § 56-3-303(a)(1) -(4), (7) and (8), to be held for the exclusive protection of its policyholders and creditors in this state; provided, that the deposit shall not exceed one hundred percent (100%) of that portion of the insurance company's reserves as is fairly allocable to insurance on risks located in this state.
Tenn. Code Ann. § 56-3-801
Voluntary deposit of securities for protection of state policyholders and creditors
Known as the Tennessee Insurance Law
The act spans §§ 56–56 (1,220 sections).
Acts 1973, ch. 104, § 1; T.C.A., § 56-355.
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.