A public adjuster who receives, accepts or holds any funds on behalf of an insured, towards the settlement of a claim for loss or damage, shall deposit the funds in a noninterest-bearing escrow or trust account in a financial institution that is insured by an agency of the federal government in the insured's home state or in the state where the loss occurred.
Tenn. Code Ann. § 56-6-915
Escrow or trust account
Known as the Tennessee Insurance Law
The act spans §§ 56-10-101–56-8-206 (1,220 sections).
Acts 2006, ch. 997, § 16.
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.