reglab/housing_qa huggingface dataset:
TN Code § 56-12-118 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 12 - Insurance Guaranty Associations|Part 1 - Tennessee Insurance Guaranty Association Act|§ 56-12-118. Advertising by Member Insurers

 No member insurer shall include any advertising matter in its advertisements in reference to the coverage afforded by the Tennessee insurance guaranty association.
TN Code § 56-12-119 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 12 - Insurance Guaranty Associations|Part 1 - Tennessee Insurance Guaranty Association Act|§ 56-12-119. Credit for Guaranty Fund Assessments

 Assessments made by the Tennessee insurance guaranty association as provided in § 56-12-107(a)(3) shall be allowed as a credit against premium taxes imposed on member insurers up to twenty-five percent (25%) of the net premium taxes due in any one (1) calendar year, until the aggregate of all assessments paid to the association have been offset by such premium tax credits.
TN Code § 56-12-120 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 12 - Insurance Guaranty Associations|Part 1 - Tennessee Insurance Guaranty Association Act|§ 56-12-120. Unearned Premium Claims

  All obligations for unearned premium claims shall include only that amount of each covered claim that is in excess of two hundred fifty dollars ($250) and is less than ten thousand dollars ($10,000).    Unearned premium claims arising out of workers' compensation policies shall be subject to the limitations of subsection (a).   Unearned premium claims shall not include credit adjustments developed under retrospective rating plans.
TN Code § 56-12-121 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 12 - Insurance Guaranty Associations|Part 1 - Tennessee Insurance Guaranty Association Act|§ 56-12-121. Insolvent Insurer

  In no case shall a covered claim include any claim filed with the association, domiciliary receiver, ancillary receiver or liquidator, after the earlier of:  Eighteen (18) months after the date of the order of liquidation; or   The final date set by the court for the filing of claims against the liquidator or receiver of an insolvent insurer.     In no case shall a covered claim include any claim filed with the association, domiciliary, or ancillary receiver or a liquidator for protection afforded under the insured's policy for incurred-but-not-reported losses.
TN Code § 56-12-201 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 12 - Insurance Guaranty Associations|Part 2 - Life and Health Insurance Guaranty Association Act|§ 56-12-201. Short Title

 This part shall be known and may be cited as the “Tennessee Life and Health Insurance Guaranty Association Act.”
TN Code § 56-12-202 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 12 - Insurance Guaranty Associations|Part 2 - Life and Health Insurance Guaranty Association Act|§ 56-12-202. Purpose

  The purpose of this part is to protect, subject to certain limitations, the persons listed in § 56-12-204(a) against failure in the performance of contractual obligations, under life, health, and annuity policies, plans, or contracts specified in § 56-12-204(b), because of the impairment or insolvency of the member insurer that issued the policies, plans, or contracts.   To provide this protection, an association of member insurers is hereby created to pay benefits and to continue coverages as limited in this part.   Members of the association are subject to assessment to provide funds to carry out the purpose of this part, and shall provide such services as are necessary to implement the protections accorded to policyholders by this part.
TN Code § 56-12-205 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 12 - Insurance Guaranty Associations|Part 2 - Life and Health Insurance Guaranty Association Act|§ 56-12-205. Creation of Association — Accounts

  There is created a nonprofit legal entity to be known as the Tennessee life and health insurance guaranty association. All member insurers are and shall remain members of the association as a condition of their authority to transact insurance or a health maintenance organization business in this state. The association shall perform its function under the plan of operation established and approved pursuant to § 56-12-209, and shall exercise its powers through a board of directors established by § 56-12-206. For purposes of administration and assessment, the association shall maintain two (2) accounts:  The life insurance and annuity account, which includes the following subaccounts:  Life insurance account; and   Annuity account, excluding unallocated annuities; and     The health account.     The association is under the immediate supervision of the commissioner and subject to the applicable provisions of the insurance laws of this state. Meetings or records of the association may be opened upon majority vote of the board of directors of the association.
TN Code § 56-12-206 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 12 - Insurance Guaranty Associations|Part 2 - Life and Health Insurance Guaranty Association Act|§ 56-12-206. Board of Directors — Reimbursement

  The board of directors of the association shall consist of not less than five (5) nor more than nine (9) member insurers serving terms as established in the plan of operation. The members of the board shall be selected by member insurers, subject to the approval of the commissioner. Vacancies on the board shall be filled for the remaining period of the term by a majority vote of the remaining board members, subject to the approval of the commissioner. To select the initial board of directors, and initially organize the association, the commissioner shall give notice to all member insurers of the time and place of the organizational meeting. In determining voting rights at the organizational meeting, each member insurer shall be entitled to one (1) vote in person or by proxy. If the board of directors is not selected within sixty (60) days after notice of the organizational meeting, the commissioner may appoint the initial members.   In approving selections or in appointing members to the board, the commissioner shall consider, among other things, whether all member insurers are fairly represented.   Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board of directors in accordance with the state's travel regulations. Members of the board shall not otherwise be compensated by the association for their services.
TN Code § 56-12-209 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 12 - Insurance Guaranty Associations|Part 2 - Life and Health Insurance Guaranty Association Act|§ 56-12-209. Plan of Operation

   The association shall submit to the commissioner a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the association. The plan of operation and any amendments thereto shall become effective upon the commissioner's written approval or within thirty (30) days if the commissioner has not disapproved it during such thirty-day period.   If an association fails to submit suitable amendments to the plan, the commissioner shall, after notice and hearing, adopt and promulgate such reasonable rules as are necessary or advisable to effectuate this part. Such rules shall continue in force until modified by the commissioner or superseded by a plan submitted by the association and approved by the commissioner.     All member insurers shall comply with the plan of operation.   The plan of operation shall, in addition to requirements enumerated elsewhere in this part:  Establish procedures for handling the assets of the association;   Establish the amount and method of reimbursing members of the board of directors under § 56-12-206;   Establish regular places and times for meetings including telephone conference calls of the board of directors;   Establish procedures for records to be kept of all financial transactions of the association, its agents, and the board of directors;   Establish the procedures whereby selections for the board of directors will be made and submitted to the commissioner;   Establish any additional procedures for assessments pursuant to § 56-12-208; and   Contain additional provisions necessary or proper for the execution of the powers and duties of the association.     The plan of operation may provide that any or all powers and duties of the association, except those set forth in §§ 56-12-207(k)(3) and 56-12-208, are delegated to a corporation, association, or other organization that performs or will perform functions similar to those of this association, or its equivalent, in two (2) or more states. Such a corporation, association, or organization shall be reimbursed for any payments made on behalf of the association and shall be paid for its performance of any function of the association. A delegation under this subsection (d) shall take effect only with the approval of both the board of directors and the commissioner, and may be made only to a corporation, association, or organization that extends protection not substantially less favorable and effective than that provided by this part.
TN Code § 56-12-210 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 12 - Insurance Guaranty Associations|Part 2 - Life and Health Insurance Guaranty Association Act|§ 56-12-210. Powers and Duties of Commissioner — Judicial Review

  In addition to the duties and powers enumerated elsewhere in this part, the commissioner shall:  Upon request of the board of directors, provide the association with a statement of the premiums in this and any other appropriate states for each member insurer;   When an impairment is declared and the amount of the impairment is determined, serve a demand upon the impaired insurer to make good the impairment within a reasonable time; notice to the impaired insurer shall constitute notice to its shareholders, if any; the failure of the insurer to promptly comply with such demand shall not excuse the association from the performance of its powers and duties under this part; and   In any liquidation or rehabilitation proceeding involving a domestic insurer, be appointed as the liquidator or rehabilitator.     The commissioner may suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any member insurer who fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative, the commissioner may levy a forfeiture on any member insurer who fails to pay an assessment when due. Such forfeiture shall not exceed five percent (5%) of the unpaid assessment per month, but no forfeiture shall be less than one hundred dollars ($100) per month.   Any action of the board of directors or the association may be appealed to the commissioner by any member insurer, if such appeal is taken within sixty (60) days of the final action which is being appealed. If a member company is appealing an assessment, the amount assessed shall be paid to the association and be available to meet association obligations during the pendancy of an appeal. If the appeal on the assessment is upheld, the amount paid in error or excess shall be returned to the member company. Any final action or order of the commissioner shall be subject to judicial review in a court of competent jurisdiction.   The liquidator, rehabilitator or conservator of any impaired insurer may notify all interested persons of the effect of this part.
TN Code § 56-12-212 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 12 - Insurance Guaranty Associations|Part 2 - Life and Health Insurance Guaranty Association Act|§ 56-12-212. Right of Offset

   A member insurer may offset against any premium, franchise, excise or income tax liability or liabilities to this state an assessment described in § 56-12-208(h) to the extent of the lesser of:  Ten percent (10%) of the amount of such assessment for each of the ten (10) calendar years following the year in which such assessment was paid; or   One tenth of one percent (0.10%) of all premiums written in this state by the member insurer for each calendar year until recovery of the assessment or assessments is made.     In the event a member insurer ceases doing business in this state, all uncredited assessments may be credited against any premium, franchise, excise, or income tax due for the year it ceases doing business.     A member insurer may transfer any offset right as described in this section to an affiliated member insurer. As used in this section:  “Affiliated member insurer” means an insurance company licensed or holding a certificate of authority to do business in this state that controls, is controlled by, or is under common control with, another member insurer; and   “Control” means holding, directly or indirectly, the ownership of, or power to vote, one hundred percent (100%) of the voting stock of another member insurer.     Any sums that are acquired by refund, pursuant to § 56-12-208(f), from the association by member insurers, and that have theretofore been offset against premium, franchise, excise, or income taxes as provided in subsection (a), shall be paid by such insurers to this state in such manner as the tax authorities may require. The association shall notify the commissioner that such refunds have been made.
TN Code § 56-12-214 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 12 - Insurance Guaranty Associations|Part 2 - Life and Health Insurance Guaranty Association Act|§ 56-12-214. Association Subject to Examination — Annual Report

  The association shall be subject to examination and regulation by the commissioner.   The board of directors shall submit to the commissioner each year, not later than one hundred twenty (120) days after the association's fiscal year, a financial report in a form approved by the commissioner and a report of its activities during the preceding fiscal year.
TN Code § 56-12-215 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 12 - Insurance Guaranty Associations|Part 2 - Life and Health Insurance Guaranty Association Act|§ 56-12-215. Tax and Fee Exemption

 The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real property.
TN Code § 56-12-216 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 12 - Insurance Guaranty Associations|Part 2 - Life and Health Insurance Guaranty Association Act|§ 56-12-216. Immunity From Liability

  There shall be no liability on the part of, and no cause of action of any nature shall arise against, any member insurer or its agents or employees, the association or its agents or employees, members of the board of directors, or the commissioner or the commissioner's representatives, for any action or omission by them in the performance of their powers and duties under this part.   This immunity shall extend to the participation in any organization of one (1) or more other state associations of similar purposes and to any such organization and its agents or employees.
TN Code § 56-12-217 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 12 - Insurance Guaranty Associations|Part 2 - Life and Health Insurance Guaranty Association Act|§ 56-12-217. Stay of Proceedings — Default Judgments

  All proceedings in which the insolvent insurer is a party in any court in this state shall be stayed sixty (60) days from the date an order of liquidation, rehabilitation, or conservation is final to permit proper legal action by the association on any matters relative to its powers or duties.   As to judgment under any decision, order, verdict, or finding based on default, the association may apply to have the judgment set aside by the same court that entered the judgment and shall be permitted to defend against the suit on the merits.
TN Code § 56-12-219 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 12 - Insurance Guaranty Associations|Part 2 - Life and Health Insurance Guaranty Association Act|§ 56-12-219. Insurers Not Covered

 This part does not apply to any insurer that is insolvent or unable to fulfill its contractual obligations on July 1, 1989.
TN Code § 56-12-220 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 12 - Insurance Guaranty Associations|Part 2 - Life and Health Insurance Guaranty Association Act|§ 56-12-220. Rules and Regulations

  The commissioner is authorized to promulgate rules and regulations to effectuate the purposes of this part.   All such rules and regulations shall be promulgated in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.
TN Code § 56-13-101 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 13 - Revised Tennessee Captive Insurance Act|Part 1 - General Provisions|§ 56-13-101. Short Title — Purpose

  This chapter shall be known and may be cited as the “Revised Tennessee Captive Insurance Act.”   The purpose of this chapter is to establish the procedures for the organization and regulation of the operations of captive insurance companies within this state and thereby promote the general welfare of the people of this state.
TN Code § 56-13-104 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 13 - Revised Tennessee Captive Insurance Act|Part 1 - General Provisions|§ 56-13-104. Names of Companies — “Certificate of Authority”

  No captive insurance company shall adopt a name that is the same, deceptively similar, or likely to be confused with or mistaken for any other existing business name registered in this state, nor any name likely to mislead the public. Any name adopted by a captive insurance company shall comply with the requirements of titles 48 and 61.   A license issued pursuant to this chapter is a “Certificate of Authority”.
TN Code § 56-13-105 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 13 - Revised Tennessee Captive Insurance Act|Part 1 - General Provisions|§ 56-13-105. Capital and Surplus Requirements

  No captive insurance company shall be issued a license unless it possesses and maintains unimpaired paid-in capital and surplus of:  In the case of a pure captive insurance company, not less than two hundred fifty thousand dollars ($250,000);   In the case of an association captive insurance company, not less than five hundred thousand dollars ($500,000);   In the case of an industrial insured captive insurance company, not less than five hundred thousand dollars ($500,000);   In the case of a risk retention group, not less than one million dollars ($1,000,000); and   In the case of a protected cell captive insurance company, not less than two hundred fifty thousand dollars ($250,000).     The commissioner may prescribe additional capital and surplus based upon the type, volume, and nature of insurance business to be transacted.    Capital and surplus required under subsection (a) must be in the form of cash, cash equivalent, marketable securities, or an irrevocable letter of credit issued by a bank approved by the commissioner.   Marketable securities must consist of bonds of the United States, or any agency or instrumentality of the United States, which have been included in the three (3) highest grades by any of the recognized securities rating firms, bonds of this state, or bonds publicly issued by any solvent institution created or existing under the laws of the United States or any state of the United States, which have been included in the three (3) highest grades by any of the recognized securities rating firms.   Captive insurance companies using marketable securities to meet the capital and surplus requirements of subsection (a) shall file with the commissioner a certificate of an official with whom the securities are deposited, stating the time and amount, and that the official is satisfied that they are worth the amount required under subsection (a) and that the deposit is made with the official by the company for the protection of all policyholders and creditors.   Notwithstanding subdivision (c)(1), the commissioner may decline to accept as a deposit any specific issue of securities that the commissioner has determined may not provide the necessary protection to policyholders and creditors.     Except as otherwise provided in this chapter, chapter 9 of this title shall apply to captive insurance companies formed under this chapter.
TN Code § 56-13-106 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 13 - Revised Tennessee Captive Insurance Act|Part 1 - General Provisions|§ 56-13-106. Restrictions on Dividends on or Distributions From Capital or Surplus

 No captive insurance company shall pay a dividend out of, or other distribution with respect to, capital or surplus without the prior approval of the commissioner. Approval of an ongoing plan for the payment of dividends or other distributions shall be conditioned upon the retention, at the time of each payment, of capital or surplus in excess of amounts specified by, or determined in accordance with formulas approved by the commissioner. A captive insurance company may otherwise make such distributions as are in conformity with its purposes and approved by the commissioner.
TN Code § 56-13-108 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 13 - Revised Tennessee Captive Insurance Act|Part 1 - General Provisions|§ 56-13-108. Annual Reports

  No captive insurance companies shall be required to make any annual report except as provided in this chapter and as required by title 48 and title 61.   Prior to March 15 of each year, each captive insurance company shall submit to the commissioner a report of its financial condition, verified by oath of two (2) of its executive officers; provided, however, that a captive insurance company organized as a risk retention group shall instead submit to the commissioner a report of its financial condition prior to March 1 of each year, verified by oath of two (2) of its executive officers. Each captive insurance company, including risk retention groups organized under this chapter, shall report using generally accepted accounting principles, unless the commissioner requires, approves, or accepts the use of statutory accounting principles or other comprehensive basis of accounting. The commissioner may require, approve, or accept any appropriate or necessary modifications of the statutory accounting principles or other comprehensive basis of accounting for the type of insurance and kinds of insurers to be reported upon. The commissioner may require additional information to supplement such report. Except as otherwise provided, each risk retention group shall file its report in the form required by this title, and each risk retention group shall comply with the requirements set forth in this title. The commissioner shall by rule propose the forms in which pure captive insurance companies and industrial insured captive insurance companies shall report. Section 56-13-103(c)(3) shall apply to each report filed pursuant to this section; provided, that § 56-13-103(c)(3) shall not apply to reports filed by risk retention groups.   A pure captive insurance company or an industrial insured captive insurance company may make written application to the commissioner for filing the required report on a fiscal year-end. If an alternative reporting date is granted by the commissioner, then:  The annual report is due one hundred and eighty (180) days after the fiscal year-end; and   In order to provide sufficient detail to support the premium tax return, the pure captive insurance company or industrial insured captive insurance company shall file, prior to March 15 of each year for each calendar year-end, such information as may be required on a form approved by the commissioner, verified by oath of two (2) of its executive officers.