reglab/housing_qa huggingface dataset:
TN Code § 56-18-112 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 18 - Mutual Life Insurance Companies|§ 56-18-112. Acquisition of Stock by Corporation in Carrying Out Plan of Conversion — Voting of Stock

   If a stock life insurance corporation determines to become a mutual life insurance corporation, it may, in carrying out any plan to that end under this chapter, acquire any shares of its own stock by gift, bequest or purchase.   Until all of the shares are acquired, any shares so acquired shall be assigned and transferred on the books of the corporation to five (5) trustees for the corporation, and shall be held by them in trust and be voted as a unit by them at all corporate meetings at which stockholders have a right to vote, until all of the capital stock of the corporation is acquired, when the entire capital stock shall be retired and cancelled and, thereupon, the corporation shall be made and become a mutual life insurance corporation without capital stock.   Before undertaking any of the duties of appointment, each trustee shall file with the company a verified acceptance of the appointment and a declaration that the trustee will faithfully discharge all duties as trustee, and shall give bond as required by the mutualization plan.   All dividends and other sums received by the trustees on the shares of stock so acquired by them, shall, after paying the necessary expenses of executing the trust, be added to and become a part of the surplus earned by the company.     The five (5) trustees shall be named in the plan of mutualization originally adopted by the directors of the corporation, and shall be approved by the commissioner. The plan of mutualization shall also provide for the method of filling vacancies occurring among the trustees.
TN Code § 56-18-113 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 18 - Mutual Life Insurance Companies|§ 56-18-113. Officers of Stock Corporation Become Officers of New Mutual Corporation

 When a stock life insurance corporation has become converted into a mutual life insurance corporation as provided in this chapter, the officers and directors shall remain as the officers and directors of the newly converted corporation until the next annual meeting for the election of officers and directors when their successors shall be elected in the manner provided for in this chapter and in the bylaws of the corporation.
TN Code § 56-18-114 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 18 - Mutual Life Insurance Companies|§ 56-18-114. Powers of Corporation Upon Conversion

 When a stock life insurance corporation has become converted into a mutual life insurance corporation as provided in this chapter, it shall have all the rights, privileges and powers conferred upon it by its charter and any amendments to its charter, and all the rights, privileges and powers conferred by general laws of this state either expressly applicable to a mutual life insurance corporation or containing general language within the scope and purview of which a mutual life insurance corporation falls.
TN Code § 56-18-115 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 18 - Mutual Life Insurance Companies|§ 56-18-115. Existing Contracts Not Affected by Conversion of Stock Life Insurance Company Into Mutual

 Neither the retirement of its capital stock nor any other action taken under this chapter shall affect existing suits, rights or contracts of the corporation. Any deposit made by the corporation under any requirement of an applicable statute of this state shall be retained by the commissioner in trust for the benefit and security of all of the policyholders of the corporation.
TN Code § 56-18-116 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 18 - Mutual Life Insurance Companies|§ 56-18-116. Abandonment of Conversion of Stock Life Insurance Company Into Mutual

 Any time before the mutualization of the corporation is complete, the corporation may abandon a plan of mutualization by the same procedure as was followed in adopting the plan. Upon abandonment, any right of any stockholder to be paid for stock in accordance with the plan shall cease and terminate, and the corporation shall continue to conduct its business as a domestic stock life insurance corporation as though no plan of mutualization had ever been adopted.
TN Code § 56-19-101 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-101. Incorporators — Number — Residence Qualifications

 Any number of persons, not less than twenty (20), a majority of whom are bona fide residents of this state, by complying with this chapter, may become, together with others who may thereafter be associated with them or their successors, a body corporate for the purpose of carrying on the business of mutual insurance as provided in this chapter.
TN Code § 56-19-102 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-102. Name of Company

 No name shall be adopted by the company that does not contain the word “mutual,” or that is so similar to any name already in use by any such existing corporation, company or association, organized and doing business in the United States, as to be confusing or misleading.
TN Code § 56-19-103 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-103. Articles of Incorporation — Acknowledgment — Contents

 Any persons proposing to form any such company shall subscribe and acknowledge articles of incorporation specifying:   The name, the purpose for which formed, and the location of its principal or home office, which shall be within this state;   The names and addresses of those composing the board of directors in which the management shall be vested until the first meeting of the members; and   The names and places of residence of the incorporators.
TN Code § 56-19-104 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-104. Articles of Incorporation — Execution in Duplicate — Submission to Commissioner — Filing

 Articles executed in duplicate shall be submitted to the commissioner of commerce and insurance, who, upon finding them to comply with this chapter, shall endorse approval thereon and shall file one (1) in the commissioner's office and shall cause the other to be filed and recorded as may be required in the case of other corporations.
TN Code § 56-19-105 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-105. Certificate of Incorporation

 Upon approval as provided in § 56-19-104, the commissioner or any other officer that may be charged with the duty in the case of other corporations shall issue to the company a certificate that shall be its authority to begin business.
TN Code § 56-19-106 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-106. Amendment of Articles of Incorporation

 The articles may be amended in the manner provided for other corporations or as may be provided in the articles, and any such amendment shall be filed and recorded as in the case of the original articles.
TN Code § 56-19-107 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-107. Legal Existence — Bylaws and Transaction of Business

  The company shall have legal existence from and after the date of the certificate of incorporation.    The board of directors named in the articles may thereupon adopt bylaws, accept applications for insurance and proceed to transact the business of the company; provided, that no insurance shall be put into force until the company has been licensed to transact insurance as provided by this chapter.   The bylaws and any amendments thereto shall within thirty (30) days after adoption be filed with the commissioner.
TN Code § 56-19-108 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-108. Powers of Company — Insurance Contracts — Kinds of Insurance — Reinsurance

 Any company organized under this chapter is empowered to make contracts of insurance or to reinsure or accept reinsurance or any portion thereof, to the extent specified in its articles of incorporation, for insurance:   Against loss or damage to property and loss of use and occupancy by fire, lightning, hail, tempest, flood, earthquake, frost or snow, explosion, fire ensuing and explosion, no fire ensuing, except explosion by steam boilers or flywheels; against loss or damage by water caused by the breakage or leakage of sprinklers, pumps or other apparatus, waterpipes, plumbing or their fixtures, erected for extinguishing fires, and against accidental injury to the sprinklers, pumps or other apparatus, waterpipes, plumbing or fixtures; against the risks of inland transportation and navigation; upon automobiles, whether stationary or operated under their own power, against loss or damage by any of the causes or risks specified in this subdivision (1), including also transportation, collision liability for damage to property resulting from owning, maintaining or using automobiles, and including burglary and theft, but not including loss or damage by reason of bodily injury to the person;   Against loss, expense or liability by reason of bodily injury or death by accident, disability, sickness or disease suffered by others for which the insured may be liable or have assumed liability, including workers' compensation;   Against bodily injury or death by accident and disability by sickness;   Against any or all loss, expense and liability resulting from the ownership, maintenance, or use of any automobile or other vehicle; provided, that no policies shall be issued under this subdivision (4) against the hazard of fire alone;   Against loss or liability to persons or property resulting from explosions or accidents to boilers, containers, pipes, engines, flywheels, elevators and machinery in connection therewith, and against loss of use and occupancy caused thereby, and to make inspections and issue certificates of inspection of the machinery;   Against loss from interruption of trade or business that may be the result of any accident or casualty; and   Against loss or damage by any hazard upon any risk not provided for in this section that is not prohibited by statute or at common law from being the subject of insurance, excepting life insurance.
TN Code § 56-19-109 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-109. License — Conditions Precedent

 No such company shall issue policies or transact any business of insurance, unless it holds a license from the commissioner authorizing the transaction of the business, which license shall not be issued until and unless the company complies with the following conditions:   It shall hold bona fide applications for insurance upon which it shall issue simultaneously, or it shall have in force, at least twenty (20) policies to at least twenty (20) members for the same kind of insurance upon not less than two hundred (200) separate risks, each within the maximum single risk described in subdivision (2);   The “maximum single risk” shall not exceed twenty percent (20%) of the admitted assets or three (3) times the average risk of one percent (1%) of the insurance in force, whichever is the greater, any reinsurance taking effect simultaneously with the policy being deducted in determining the maximum single risk;   It shall have collected a premium upon each application, which premiums shall be held in cash or securities in which insurance companies are authorized to invest and shall be equal, in case of fire insurance to not less than twice the maximum single risk assumed subject to one (1) fire nor less than ten thousand dollars ($10,000), and in any other kind of insurance to not less than five (5) times the maximum single risk assumed, and in case of workers' compensation insurance to not less than fifty thousand dollars ($50,000);   For the purpose of transacting employer's liability and workers' compensation insurance, the applications shall cover not less than one thousand five hundred (1,500) employees, each such employee being considered a separate risk for determining the maximum single risk; and   Satisfy the commissioner that its financial condition, methods of operation and manner of doing business are adequate to meet its obligations to all policyholders in this state.
TN Code § 56-19-110 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-110. Policy Provisions

 The mutual company may insert in any form of policy prescribed by the law of this state any provisions or conditions required by its plan of insurance that are not inconsistent or in conflict with any law of this state. The policy, in lieu of conforming to the language and form prescribed by the law, may conform thereto in substance, if the policy includes a provision or endorsement reciting that the policy shall be construed as if in the language and form prescribed by the law, and a copy of the policy and endorsement, if any, has been first filed with, and has not been disapproved by, the commissioner.
TN Code § 56-19-111 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-111. Corporate Policyholders — Officers Not Personally Liable

  Any public or private corporation, board or association in this state or elsewhere may make applications, enter into agreements for and hold policies in any such mutual insurance company. Any officer, stockholder, trustee or legal representative of any such corporation, board, association or estate may be recognized as acting for or on its behalf for the purpose of the membership, but shall not be personally liable upon the contract of insurance by reason of acting in the representative capacity.   The right of any corporation organized under the laws of this state to participate as a member of any such mutual insurance company is declared to be incidental to the purpose for which the corporation is organized and as much granted as the rights and powers expressly conferred.
TN Code § 56-19-112 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-112. Voting Rights of Members

 Every member of the company shall be entitled to one (1) vote, or to a number of votes based upon the insurance in force, the number of policies held or the amount of premiums paid, as may be provided in the bylaws.
TN Code § 56-19-113 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-113. Maximum Premium to Be Stated — Cash and Contingent Premiums

  The maximum premium payable by any member shall be expressed in the policy or in the application for the insurance. The maximum premium may be a cash premium and the contingent premium not less than the cash premium, or may be solely a cash premium.   No policy shall be issued for a cash premium without an additional contingent premium, unless the company has a surplus of at least one hundred thousand dollars ($100,000) or a surplus that is not less in amount than the capital stock required of domestic stock insurance companies transacting the same kinds of insurance.
TN Code § 56-19-114 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-114. Investment of Assets

 No such company shall invest any of its assets except in accordance with the laws of this state relating to the investment of the assets of domestic stock insurance companies transacting the same kind of insurance.
TN Code § 56-19-115 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-115. Unearned Premium and Other Reserves — Maintenance

 The mutual company shall maintain unearned premium and other reserves separately for each kind of insurance, upon the same basis as that required of domestic stock insurance companies transacting the same kind of insurance, and the funds earned by each kind of insurance shall be kept separate and shall not be available to pay losses or expenses incurred by any other kind of insurance; provided, that any reserve for losses or claims based upon the premium income shall be computed upon the net premium income after deducting any so-called dividend or premium returned or credited to the member.
TN Code § 56-19-116 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-116. Assets Not Equal to Unearned Premium Reserve and Other Liabilities — Assessment of Members — Increase

 A mutual company not possessed of assets at least equal to the unearned premium reserve and other liabilities shall make an assessment upon its members liable to assessment to provide for the deficiency, the assessment to be against each such member in proportion to the liability as expressed in the member's policy; provided, that the commissioner may, by written order, relieve the company from an assessment or other proceeding to restore the assets during the time fixed in that order; and provided further, that any domestic company that is deficient in providing the unearned premium reserve required hereby may, notwithstanding the deficiency, come under this chapter on the condition that it shall each year thereafter reduce the deficiency at least fifteen percent (15%) of the original amount, and in this case it may increase its assessments accordingly.
TN Code § 56-19-117 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-117. Advancements

  Any director, officer or member of any such company, or any other person, may advance to the company any sum or sums of money necessary for the purpose of its business or to enable it to comply with any of the requirements of the law, and the money and the interest thereon as may have been agreed upon, not exceeding the legal rate of interest, shall be payable only out of the surplus remaining after providing for all reserves and other liabilities and shall not otherwise be a liability or claim against the company or any of its assets.   No commission or promotion expenses shall be paid in connection with the advance of any such money to the company and the amount of the advance shall be reported in each annual statement.
TN Code § 56-19-118 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-118. Foreign Mutual Insurance Companies Admitted if Solvent — Requirements for Admission

  Any mutual insurance company organized outside of this state and authorized to transact the business of insurance on the mutual plan in any state, district, or territory, shall be admitted and licensed, subject to the approval of the commissioner as provided for in this chapter, to transact the kinds of insurance authorized by its charter or articles to the extent and with the powers and privileges specified in this chapter and when it is solvent under this chapter, and has complied with the following requirements:  Filing with the commissioner a certified copy of its charter or articles and a certificate of the supervising insurance official of the state, district, or territory, in which it is incorporated, that it is there organized and authorized to do such business as it desires to transact in this state;   Filing with the commissioner a copy of its bylaws certified to by its secretary;   Appointing the commissioner its agent for the service of process in any action, suit, or proceeding in any court of this state, which authority shall continue as long as any liability shall remain outstanding in this state;   Filing a financial statement under oath, in the form that the commissioner may require, and complying with other provisions of the law applicable to the filing of papers and furnishing information by stock companies on application for authority to transact the same kinds of insurance;   If organized without the United States, making and maintaining the deposit required of stock insurance companies formed without the United States transacting the same kinds of insurance; and   Its name shall not be so similar to any name already in use by any such existing corporation, company or association organized or licensed in this state as to be confusing or misleading.     Upon compliance by any such foreign company with this section, the company shall be licensed and authorized to transact business in this state, subject to all the provisions of law relating to information to and examinations by the commissioner, annual reports, taxes and the renewal of licenses, applicable to stock insurance companies transacting the same kinds of insurance, except as otherwise provided in this chapter.
TN Code § 56-19-119 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-119. Annual Report — Examination — Information Required

 Every mutual insurance company shall make its annual report in such form and submit to such examinations and furnish such information as may be required by the commissioner. As far as practicable, the examinations of foreign mutual insurance companies shall be made in cooperation with the insurance departments of other states and the forms of the annual report shall be such as are in general use throughout the United States.
TN Code § 56-19-120 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-120. Reinsurance — Restrictions

 Any such company organized or admitted to transact insurance in this state may reinsure any part or all of any risk or risks, in any insurance company or insurer licensed in this state; provided, that no such reinsurance shall be effected with any company or insurer not licensed in this state that has been disapproved  by written order of the commissioner filed in the commissioner's office.
TN Code § 56-19-121 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-121. Resident Agent Not Required

 Any law requiring that policies be countersigned and delivered through a resident agent shall not apply to any policy of the mutual company on which no commission shall be paid to any local agent.
TN Code § 56-19-122 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-122. Companies Governed by This Chapter Not Subject to Any Other Law

 Except as provided in this chapter, insurance companies organized or admitted to do business in this state under this chapter are not subject to any other law of this state governing insurance companies unless they are specifically mentioned or clearly included in its terms.
TN Code § 56-19-123 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-123. Violation of Chapter — Penalty — Revocation of License

 Any person or corporation violating this chapter commits a Class C misdemeanor, and the commissioner has the power to revoke the license of any such person or corporation.
TN Code § 56-19-124 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 19 - Mutual Insurance Companies Other Than Life|§ 56-19-124. Requirements as to Deposits and Surplus

 Each and every requirement and provision of §§ 56-2-101 — 56-2-104, 56-2-113 — 56-2-115, 56-2-201 and 56-2-301 relating to the kinds of business as defined in those sections, required deposits with the commissioner, and required surplus of insurance companies, shall be fully and specifically applicable to all insurance companies organized under this chapter.