reglab/housing_qa huggingface dataset:
TN Code § 56-3-107 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 1 - General Provisions|§ 56-3-107. Disbursements by Life Insurance Companies to Be Upon Vouchers or Affidavits

  No life insurance company doing business in this state shall make any payment out of its funds amounting to one hundred dollars ($100) or more unless the payment is evidenced by a voucher signed by or on behalf of the person receiving the money and correctly describing the consideration for the payment. If the payment is for both services and other purposes, the voucher shall set forth an itemized statement of the specific services rendered and of all other expenditures. If the expenditure is in connection with any matter pending before any legislative or public body or before any department or officer of any state or government, the voucher shall correctly describe, in addition, the nature of the matter and the interest of the company.   When the voucher cannot be obtained, the expenditure shall be evidenced by an affidavit describing the character and object of the expenditure and stating the reason for not obtaining the voucher.
TN Code § 56-3-108 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 1 - General Provisions|§ 56-3-108. Dividends — Unauthorized Payment — Penalty

  It is not lawful for the directors, trustees, or managers of any insurance company incorporated by the laws of this state to make any dividend except from the surplus profits.   Any dividend made contrary to this chapter shall subject the company making the dividend to a forfeiture of its charter, and each stockholder receiving it to a liability to the creditors of the company to the extent of double the amount of the dividend declared.
TN Code § 56-3-109 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 1 - General Provisions|§ 56-3-109. Dividends — Illegal Division — Directors' Liability to Creditors

 Moneys received as premiums upon risks undetermined and outstanding, at the time of declaring any dividend, shall not be considered as profits, earned and divided as such; and if any loss should happen impairing the capital stock, no dividend shall be declared until the capital stock is made good; and if a dividend is declared, contrary to this prohibition, the directors consenting to the dividend shall be liable to make good to the creditors of the company, if their claims cannot otherwise be satisfied, the amount of dividends thus illegally divided.
TN Code § 56-3-110 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 1 - General Provisions|§ 56-3-110. Unclaimed Dividends — Publication

 Every insurance company doing business in this state shall, on January 1 of each year, and for thirty (30) days thereafter, cause to be published, in one (1) newspaper printed in the city of Nashville, a full and accurate statement, verified by the oath of the presiding officer, of the dividends and profits declared and payable upon stocks, bonds, or other evidences of indebtedness that remain unclaimed by the person entitled to the dividends and profits.   Code 1858, § 1830; Shan., § 3346; Code 1932, § 6171; T.C.A. (orig. ed.), §§ 56-236, 56-331.
TN Code § 56-3-111 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 1 - General Provisions|§ 56-3-111. Certain Insurance Companies to Report Settlement or Judgment in Health Care Liability Claims

  Insurance companies providing insurance coverage against civil liability for the death or personal injury of any person as the result of negligence or health care liability in the rendering of professional services by a licensed physician, either doctor of osteopathic medicine or doctor of medicine, or by a licensed dentist shall report to the state board of medical examiners or state board of osteopathic examination or the state board of dentistry any settlement of a claim or judgment, sealed, confidential or otherwise, of five thousand dollars ($5,000) or more that arises out of a claim of negligence or health care liability on the part of an insured physician or dentist as distinguished from administrative matters. The report shall be made within thirty (30) days of the settlement or judgment and shall contain only the following information:  The name and address of the licensed physician or dentist;   The name and address of the plaintiff;   The name of the patient, if different from the plaintiff;   The name and location of the court in which a claim was filed, if any;   The amount of any judgment or settlement; and   The identity of the insurance company and the person filling out the report.     The reports shall be confidential, shall not be subject to public inspection, shall not be subject to subpoena or used as evidence in any legal proceeding, civil or criminal; provided, however, that the reported judgments and settlements contained in the reports, except those that are ordered sealed or to remain confidential by a court of competent jurisdiction, may be used to fulfill the requirements of the Health Care Consumer Right to Know Act of 1998, compiled in title 63, chapter 32, but may not be used to initiate or prosecute any administrative proceeding before the board for licensing health care facilities.   No insurance company, official, or other person authorized by an insurance company to issue the reports shall be liable for filing reports in accordance with this section, so long as the report is not disclosed to anyone other than authorized personnel of the state board of medical examiners, state board of osteopathic examination or the state board of dentistry, or the reported judgments and settlements contained in the reports, except those that are ordered sealed or to remain confidential by a court of competent jurisdiction are used to fulfill the requirements of the Health Care Consumer Right to Know Act of 1998.
TN Code § 56-3-113 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 1 - General Provisions|§ 56-3-113. Valuation of Bonds

  All bonds permitted by this chapter or other evidences of debt having a fixed term and rate of interest held by an insurer may, if amply secured and not in default as to principal or interest, be valued as follows:  If purchased at par, at the par value;   If purchased above or below par, on the basis of the purchase price adjusted so as to bring the value to par at maturity and so as to yield in the meantime the effective rate of interest at which the purchase was made, or in lieu of that method, according to the accepted method of valuation approved by the department; and   The purchase price shall in no case be taken at a higher figure than the actual market value at the time of purchase, plus actual brokerage, transfer, postage or express charges paid in the acquisition of the securities.     The department shall have full discretion in determining the method of calculating values according to the rules set forth in this section, but the method or valuation shall not be inconsistent with any applicable valuation or method used by insurers in general, or the method then currently formulated or approved by the National Association of Insurance Commissioners or its successor organization.
TN Code § 56-3-114 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 1 - General Provisions|§ 56-3-114. Valuation of Securities

  Securities, other than those referred to in § 56-3-113, held by an insurer shall be valued, in the discretion of the department, at their market value, at their appraised value, or at prices determined by it as representing their fair market value. Nothing in this section applies to loans secured by mortgages upon improved real property or upon leasehold estates in improved real property, which shall continue to be valued on the basis of amortization to maturity.   Preferred or guaranteed stocks or shares, while paying full dividends, may be carried at a fixed value in lieu of market value, at the discretion of the department and in accordance with the method of valuation it approves.   Stock of a subsidiary corporation of an insurer shall not be valued at an amount in excess of the net value of the stock as based upon those assets only of the subsidiary that would be eligible under this chapter for investment of the funds of the insurer directly.   No valuations under this section shall be inconsistent with any applicable valuation or method then currently formulated or approved by the National Association of Insurance Commissioners or its successor organization.   Before the commissioner takes any action pursuant to this section, the commissioner shall give written notice to the insurer involved, stating specifically the nature of the alleged violation, and fixing a time and place, at least ten (10) days thereafter, when a hearing on the matter shall be held. The burden of proof shall be on the commissioner to show the lack of statutory criteria by the preponderance of the evidence. After the hearing, or upon failure of the accused to appear at the hearing, the commissioner, if the commissioner finds a violation, may enter an appropriate order under this section as the commissioner deems advisable.   When the commissioner takes action in any or all of the ways set out in this section, the party aggrieved may appeal from the action to the chancery court of Davidson County.
TN Code § 56-3-115 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 1 - General Provisions|§ 56-3-115. Bonds or Other Evidences of Debt of a Domestic Insurance Company — Reinsurance Liability — Limitations

 Notwithstanding § 56-1-405, where bonds or other evidences of debt having a fixed term and rate of interest, or shares of capital stock of a federal home loan bank, owned by a domestic insurance company are held by or on behalf of another person in connection with a reinsurance liability of, or an indebtedness incurred to a federal home loan bank by the domestic insurance company, the amount allowed as a credit against the liability or indebtedness shall be determined in the manner provided for in § 56-3-113 or § 56-3-303(a)(4), as applicable, and the commissioner may allow the excess, if any, of the amount of the bonds or other evidences of debt or shares of capital stock over the amount of the liability or indebtedness to constitute an admissible asset of the domestic insurance company, but only if and to the extent that the bonds or other evidences of debt or shares of capital stock would constitute admissible assets except for being so held in connection with a reinsurance liability or indebtedness to a federal home loan bank; provided, that the total amount of the excess that a domestic insurance company may take into account as an admissible asset shall not exceed thirty percent (30%) of the company's capital and surplus as determined on December 31 of the year preceding the date of the determination.
TN Code § 56-3-116 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 1 - General Provisions|§ 56-3-116. Property and Casualty Insurers — Risk Limitations — Applicability

  No insurance company engaged in the business of property and casualty insurance shall retain a maximum net amount on any single risk in excess of ten percent (10%) of the company's capital, or surplus funds, if the insurer is a mutual, reciprocal or Lloyd's plan insurer.   This section does not apply to any company organized pursuant to chapter 13 of this title except for risk retention groups as defined in 15 U.S.C. §  3901 et seq. and 42 U.S.C. § 9671.
TN Code § 56-3-117 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 1 - General Provisions|§ 56-3-117. Foreign and Alien Insurers — Investments

  The investments of foreign and alien insurers shall be as permitted by the laws of their domicile but shall be of a quality substantially as high as those required under § 56-2-120 or §§ 56-3-113 — 56-3-116 and this section for similar funds of like domestic insurers.   For the purpose of this section, the domicile of an alien insurer, other than insurers formed under the laws of Canada, shall be that state designated by the insurer in writing filed with the commissioner at the time of admission to this state and may be any one (1) of the following states in which:  The insurer was first authorized to transact insurance;   The insurer's principal place of business is located in the United States; or   The larger deposits of trusteed assets of the insurer for the protection of its policyholders and creditors in the United States is held.     If the insurer makes no such designation, its domicile shall be deemed to be that state in which is located its principal place of business in the United States.   In the case of the insurer formed under the laws of Canada or a province of Canada, its domicile shall be deemed to be that province in which its head office is situated.   Before the commissioner takes any action pursuant to this section, the commissioner shall give written notice to the insurer involved, stating specifically the nature of the alleged violation, and fixing a time and place, at least ten (10) days thereafter, when a hearing on the matter shall be held. The burden of proof shall be on the commissioner to show the lack of statutory criteria by the preponderance of the evidence. After the hearing, or upon failure of the accused to appear at the hearing, the commissioner, if the commissioner finds a violation, may enter an appropriate order under this section as the commissioner deems advisable.   When the commissioner takes action in any or all of the ways set out in this section, the party aggrieved may appeal from the action to the chancery court of Davidson County.
TN Code § 56-3-118 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 1 - General Provisions|§ 56-3-118. Commissioner — Promulgation of Rules and Regulations

  The commissioner is authorized to promulgate rules and regulations to prescribe minimum standards for the establishment of liabilities and reserves resulting from insurance contracts issued by an insurer, including, but not limited to, unearned premium reserves and liabilities for claims and losses unpaid and incurred but not reported claims. The rules and regulations shall be promulgated in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.   The rules promulgated under this section shall contain provisions stating that before the commissioner takes any action pursuant to the rules and regulations, the commissioner shall give written notice to the insurer involved, stating specifically the nature of any alleged violation, and fixing a time and place, at least ten (10) days thereafter, when a hearing on the matter shall be held. The burden of proof shall be on the commissioner to show the lack of minimum standards under the rules promulgated under this section by the preponderance of the evidence. After the hearing, or upon failure of the accused to appear at the hearing, the commissioner, if the commissioner finds a violation, may enter an appropriate order under this section as the commissioner deems advisable.   When the commissioner takes action in any or all of the ways set out in this section, the party aggrieved may appeal from the action to the chancery court of Davidson County.
TN Code § 56-3-201 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 2 - Claims Office Requirements|§ 56-3-201. Soliciting Contracts by Advertisements — Claims Office Required

  Any life, accident, hospitalization and health insurance company doing business in this state that solicits applications or offers for contracts or contracts of insurance primarily by mail, radio, television, publication of advertisements in a newspaper, magazine, or by any other printed matter shall provide at least one (1) office for the handling of claims in one (1) of the following cities: Memphis, Nashville, Knoxville or Chattanooga.   Any insurance policy issued for delivery to a resident of this state shall contain information whereby a policyholder may locate the nearest claims office referred to in subsection (a).
TN Code § 56-3-202 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 2 - Claims Office Requirements|§ 56-3-202. Contracts Made by Resident Agent

 Sections 56-3-201 and 56-3-203 do not apply to solicitations, offers, or contracts that are taken or made directly by a duly licensed resident agent.
TN Code § 56-3-203 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 2 - Claims Office Requirements|§ 56-3-203. Failure to Provide Claims Office — Penalty

 Life, accident, hospitalization and health insurance companies that violate § 56-3-201 shall be fined no less than five hundred dollars ($500) nor more than one thousand dollars ($1,000) for each day a violation occurs in each city named in § 56-3-201.
TN Code § 56-3-301 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 3 - Investments of Domestic Life Insurance Companies|§ 56-3-301. Underwriting or Participation by Domestic Life Insurance Company in Offering of Securities by Another Prohibited — Agreement to Withhold Property From Sale Prohibited — Regulations on Loans

  No domestic life insurance company, whether incorporated by special act or under a general law of this state, shall underwrite or participate in the underwriting of an offering of securities or property by any other person; nor shall the company enter into any agreement to withhold from sale any of its property, but the disposition of its property shall be at all times within the control of its board of directors.    No investment or loan, except policy loans, shall be made by the life insurance company, unless the investment or loan first has been authorized by the board of directors or by a committee appointed by the board and charged with the duty of supervising the investment or loan; provided, that the acquisition and disposal of short-term bonds, debentures, notes, commercial paper, certificates of deposits or similar evidences of indebtedness, having a remaining maturity of ninety (90) days or less, if in accordance with § 56-3-303 and if done under the general supervision and periodic review of the board or a committee appointed by the board, shall not require specific approval of the board or committee.   Membership on the board of directors shall not be a requirement for eligibility to membership on the committee.
TN Code § 56-3-305 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 3 - Investments of Domestic Life Insurance Companies|§ 56-3-305. Domestic Life Insurance Companies May Acquire, Hold and Convey Real Estate — Purposes — Manner

  A domestic life insurance company may acquire, hold and convey real property only for the following purposes and in the following manner:  The land and the building on the land in which it has its principal office and other real property that is requisite for its convenient accommodations in the transaction of its insurance business, the amount not to exceed ten percent (10%) of its admitted assets, subject, however, to the limitations of subsection (b);   Real property that has been mortgaged to it in good faith by way of security for loans previously contracted or for moneys due;   Real property that has been conveyed to it in satisfaction of debts previously contracted in the course of its dealings;   Real property that has been purchased at sales on judgments, decrees, or mortgages obtained or made for those debts;   Real property that has been acquired for investment purposes; provided, that:  No real property may be acquired or held under the authority of this subdivision (a)(5) unless at the time of acquisition it is already improved and income producing or unless it is improved with due diligence after acquisition so as to produce an income;   No company shall at any one (1) time have more than two percent (2%) of its admitted assets invested in a single piece or adjoining pieces of real property acquired or held under the authority of this subdivision (a)(5); and   No investments under the authority of this subdivision (a)(5) shall be made in hotels, club houses, garages, schools, factories erected and designed for special purposes or agricultural properties, without specific approval in advance by the commissioner.       In no event shall the aggregate of all of a company's holdings and investments, under the authority of subdivisions (a)(1)-(5), exceed ten percent (10%) of the company's admitted assets; provided, that nothing in this subsection (b) shall prevent the acquisition by the company of any property under subdivisions (a)(2)-(4), but properties so acquired shall be held under § 56-3-306.
TN Code § 56-3-306 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 3 - Investments of Domestic Life Insurance Companies|§ 56-3-306. Time for Disposal of Real Estate — Extension of Time

 Real property specified in § 56-3-305(a)(2)-(4), which is not necessary for its accommodation in the convenient transaction of its business, shall be sold and disposed of within five (5) years after the company has acquired title to the property, or within five (5) years after the property has ceased to be necessary for the accommodation of its business, and it shall not hold the property for a longer period unless it complies with either of the following:   It shall procure a certificate from the commissioner authorizing an extension of time for the sale of the property, which certificate the commissioner is authorized to issue if, in the commissioner's judgment, it appears that the interest of the company will suffer materially by a forced sale of the property; or   It shall elect to hold the real property as an investment for income purposes under § 56-3-305(a)(5), in which event thereafter the real property shall be considered to have been acquired at a cost equal to its book value at the time of the election and to be held under, and subject to, § 56-3-305(a)(5) and (b). The election in this subdivision (2) may be made only if at the time of election the real property would otherwise qualify as a permissible investment under § 56-3-305(a)(5).
TN Code § 56-3-307 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 3 - Operation of Insurance Companies|Part 3 - Investments of Domestic Life Insurance Companies|§ 56-3-307. Investments or Loans of Domestic Life Insurance Companies Limited

 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.