reglab/housing_qa huggingface dataset:
TN Code § 56-20-101 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 20 - Mutual or Assessment Fire Insurance Companies|§ 56-20-101. Documents Filed With Commissioner

 Every mutual or assessment fire insurance company shall file with the commissioner of commerce and insurance a properly certified copy of its charter or articles of incorporation, together with a sworn statement of three (3) of the incorporators that bona fide agreements have been entered into for the insurance of property of an amount not less than fifty thousand dollars ($50,000), and of the nature and class stated in this chapter.
TN Code § 56-20-102 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 20 - Mutual or Assessment Fire Insurance Companies|§ 56-20-102. Policy Provisions

 The directors of every corporation subject to this chapter shall issue policies of insurance, signed by its president and secretary, agreeing in the name of the corporation to pay all damages, not exceeding the amount insured, which shall not be more than five thousand dollars ($5,000) on any one (1) risk, done to dwelling houses, barns and their contents, and other property not more hazardous and buildings not more hazardous, in cities or villages, and their contents, during the time mentioned in the policy. Every policy issued shall have attached to it a printed copy of the bylaws and regulations of the corporation.
TN Code § 56-20-103 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 20 - Mutual or Assessment Fire Insurance Companies|§ 56-20-103. Obligations of Insured — Uniformity

 Every person insured in and by any corporation subject to this chapter shall give an undertaking in the form as the corporation may prescribe, which form shall be uniform between and by all the insured, to pay the person's pro rata share of all losses or damages sustained by any member from any cause specified in the policy of the corporation. The person shall also pay a reasonable sum for expenses as the bylaws may require.
TN Code § 56-20-104 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 20 - Mutual or Assessment Fire Insurance Companies|§ 56-20-104. Payment of Losses or Damages — Borrowing or Assessments — General Assessments

  Should the amount of any loss or damage exceed the amount of money on hand, such of its officers as may be authorized by the bylaws to do so shall convene the directors or executive committee, who may borrow money on the credit of the corporation, sufficient to pay the loss, but no more, or make an assessment upon all the property insured pro rata according to its classification, and according to the amount insured, sufficient to pay what the cash in hand falls short of paying, or for the whole loss or damage, as the directors or executive committee may decide to be for the best interest of the corporation. If the directors or the executive committee deem it to be for the best interest of the corporation, they may, with the authority of a majority in value of the insurance held by members of the corporation, conferred by resolution, bylaw, or otherwise, previously given, make an estimate of the sums as, in their judgment, will be necessary to pay all losses, damages, and expenses for the current year, and supply any deficiency in the preceding year, and proceed to assess, levy, and collect the same of the members of the corporation at such times as, in their discretion, will be most advantageous to the corporation.   The assessment shall be made pro rata upon all property at the time insured, according to its classification or according to the amount insured, sufficient to pay the amount so estimated.   Not more than one (1) such general assessment shall be made in any one (1) year, nor shall any such assessment be made if more than ten percent (10%) of any previous assessment shall be in the treasury of the corporation, and not at the time required for losses actually suffered.   No assessment shall be invalid because made in whole or in part for the purpose of paying any money borrowed by the directors or executive committee, which has been used in the payment of any claim for the loss or damage against the corporation.
TN Code § 56-20-105 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 20 - Mutual or Assessment Fire Insurance Companies|§ 56-20-105. Limitation on and Use of Assessments

 The officers of the corporation shall not enter into any contract or agreement, or make any debt of any kind, except for payment of losses or damages as provided in § 56-20-104, that will require an assessment of more than fifty cents (50¢) on each one hundred dollars ($100) of insurance in force. Neither shall the officers of any such company use for current expenses any money assessed for losses or damages, and all money for the expenses raised by assessment must be so stated in the notices calling for the assessment.
TN Code § 56-20-106 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 20 - Mutual or Assessment Fire Insurance Companies|§ 56-20-106. Notice of Assessments — Time of Payment — Expense and Cost of Collection

 The secretary shall, within thirty (30) days after any assessment has been made, notify every member of the corporation, by written or printed notice, signed by the secretary, stating the amount due the corporation from the members, the time when and to whom it shall be paid, and the use to be made of the money collected. Such time shall not be less than thirty (30) days nor more than sixty (60) days from the service of the notice, which notice may be served personally or by mail. If by mail, service shall be deemed complete when deposited in the post office at the place where the principal office of the corporation is located, directed to each member at the member's place of residence or business, and postage prepaid. The expense and cost of collection of the assessment shall be regulated by the bylaws.
TN Code § 56-20-107 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 20 - Mutual or Assessment Fire Insurance Companies|§ 56-20-107. Collection of Assessments by Officers — Individual Liability for Neglect

 The officers of every corporation subject to this chapter may proceed to collect any assessment, when due and unpaid for thirty (30) days. Refusal and neglect on their part to endeavor to collect the assessments, or to perform any of the duties imposed by this chapter, shall render them liable, individually, for the amount lost by any person who loses by their neglect or refusal, and an action can be maintained against the officers for the losses.
TN Code § 56-20-108 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 20 - Mutual or Assessment Fire Insurance Companies|§ 56-20-108. Actions to Recover Assessments — Penalty and Interest

 An action may be brought by the corporation against any member to recover all assessments that the member may neglect or refuse to pay, made upon the member under this chapter, or by the bylaws of the corporation. If the corporation is compelled to bring any such action in order to collect any such assessment, it may recover the amount so assessed, with fifty percent (50%) to be added to the amount, in addition to lawful interest, as a penalty for the neglect and refusal to pay within the time required.
TN Code § 56-20-109 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 20 - Mutual or Assessment Fire Insurance Companies|§ 56-20-109. Lien for Assessments — Rights of Subsequent Purchaser, or Junior Lienholder

 The corporation shall have a lien upon the property insured to secure the payment of the assessments and calls as may be legally made under the contract of insurance, and, in case of loss, the subsequent purchaser, or junior lienholder, shall be entitled to the benefits of the insurance, and to the rights, benefits and privileges of the original insured, to the extent of the insured's interest in the property.
TN Code § 56-20-110 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 20 - Mutual or Assessment Fire Insurance Companies|§ 56-20-110. Exclusion From Membership — Policies Cancelled or Withdrawn — Effect

 Any member who neglects or refuses to pay an assessment may for this reason, or for any other reason satisfactory to the directors or executive committee, be excluded by a majority of the directors or executive committee, or as the bylaws may prescribe, from the corporation; and when thus excluded, the secretary shall cancel or withdraw the person's policy or policies and notify the person of the fact, which shall prevent the person's recovering for any loss or damage sustained after the exclusion.
TN Code § 56-20-111 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 20 - Mutual or Assessment Fire Insurance Companies|§ 56-20-111. Liability for Assessments Made Before Exclusion — Penalty — Limitation of Actions

 A member liable under § 56-20-110 shall remain liable for the payment of any assessment made prior to the member's exclusion, and for the penalty provided in § 56-20-108, in case action has been or shall be brought against the member therefor, within twelve (12) months after the time it was due.
TN Code § 56-20-112 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 20 - Mutual or Assessment Fire Insurance Companies|§ 56-20-112. Notice of Exclusion and Cancellation — Repayment of Equitable Portion of Unearned Premiums of Cancelled Policy

 If any member of the corporation is excluded therefrom as provided in § 56-20-110, and the policy issued to such member cancelled, the secretary shall at once enter the action, with date thereof, upon the records of the association, and, either in person or by mail, notify the member of the exclusion, and, if by mail, the postage shall be prepaid and the notice be addressed to the office given in the application or policy. From and after the personal notice, or five (5) days after mailing the notice, as required in this section, the policy shall be cancelled, and all liability on the policy shall cease, but the owner shall be entitled to receive from the corporation a repayment of an equitable portion of all unearned money to which the member has contributed, if any.
TN Code § 56-20-113 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 20 - Mutual or Assessment Fire Insurance Companies|§ 56-20-113. Annual Statement to Commissioner

 The president and secretary of every corporation doing business under this chapter shall make a statement, under oath, to the commissioner showing the condition of the corporation on December 31 in each year, which shall contain the amount and kind of property insured, the number of policies issued from the time of organization of the corporation up to the time of making the statement, the number insured during the year last past, the amount of insurance accepted and amount withdrawn, expired, and cancelled during the year, the whole amount of insurance in force on December 31, the amount of money received during the year by the corporation, the amount of disbursements, specifying the amount paid for fees, salaries, commissions, and all other matters of interest to the corporation or member that the commissioner may require on or before February 1 next following.
TN Code § 56-20-114 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 20 - Mutual or Assessment Fire Insurance Companies|§ 56-20-114. Examination by Commissioner — Payment of Expenses — Prosecution of Offending Officers

 It is the duty of the commissioner, upon the application of five (5) members of any company doing business under this chapter, or two (2) directors, or the president or secretary, to examine into the management of such company, and the company shall pay the necessary expenses of the examination. Should the commissioner find that any officer or any number of officers have been, or are, at the time, violating this chapter or the bylaws of the company, the commissioner shall cause the officer or officers to be prosecuted, as with other corporations that are guilty of like violations.
TN Code § 56-20-115 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 20 - Mutual or Assessment Fire Insurance Companies|§ 56-20-115. Fees of Commissioner

 The commissioner shall collect and pay into the state treasury the fees prescribed by § 56-4-101 for issuing each new certificate of authority for filing the company's annual statement and for amendments to the company's certificate of authority.
TN Code § 56-20-116 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 20 - Mutual or Assessment Fire Insurance Companies|§ 56-20-116. Extension of Business Operations

 Companies organized or incorporated under the laws of this state, and operated under and according to this chapter, are authorized and empowered to extend their business to and operate in contiguous counties.
TN Code § 56-20-117 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 20 - Mutual or Assessment Fire Insurance Companies|§ 56-20-117. Exemption From Deposit and Surplus Requirements

 Sections 56-2-101 — 56-2-104, 56-2-113 — 56-2-115, 56-2-201, and 56-2-301 do not apply to or affect, nor should they be construed as in any way applying to or affecting, domestic, state and county mutual fire insurance companies, the organization of which was and is authorized by this chapter and Chapters 2 1 and 22 of this title.
TN Code § 56-21-101 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 21 - State Mutual Fire Insurance Companies|§ 56-21-101. Paid-Up Guaranty Capital — Division Into Shares

  Any mutual fire insurance company organized under the laws of this state shall have a paid-up guaranty capital of not less than nine hundred fifty thousand dollars ($950,000) divided into shares of not exceeding one hundred dollars ($100) each.   The increase in the minimum amount of guaranty capital provided by the 1969 amendment does not apply to companies qualified and authorized prior to May 7, 1969.
TN Code § 56-21-102 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 21 - State Mutual Fire Insurance Companies|§ 56-21-102. Deposit of Securities

 Notwithstanding the provisions contained in § 56-2-104 to the contrary, guaranty capital securities, in amounts equal to the requirements of § 56-2-104(a)(4), must be deposited with the commissioner of commerce and insurance for the protection of the policyholders and creditors of the company in this state. Companies not having guaranty capital securities must deposit securities equal to ten percent (10%) of net written premiums, annually, not to exceed the requirements of § 56-2-104(a)(4).
TN Code § 56-21-103 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 21 - State Mutual Fire Insurance Companies|§ 56-21-103. Interest and Dividends From Guaranty Capital Securities to Subscribers — Dividends on Paid-Up Shares

 Every mutual fire insurance company organized with a guaranty capital may allow its subscribers all the interest and dividends accruing from the guaranty capital securities, according to the amount paid in or deposited by the respective guarantors, and, in addition, may pay the guarantors dividends of not exceeding six percent (6%) per annum on their respective paid-up shares; provided, that the surplus at the end of each year, over and above all liabilities, including reinsurance reserve and guaranty capital, is sufficient to pay the dividends.
TN Code § 56-21-104 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 21 - State Mutual Fire Insurance Companies|§ 56-21-104. Investment of Guaranty Capital and Other Assets

 The capital and other invested assets of the company shall be invested in real estate mortgages or mortgage notes, not exceeding one half (½) of the value of the property, or in such other securities as are permitted for investment by domestic stock fire insurance companies.
TN Code § 56-21-105 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 21 - State Mutual Fire Insurance Companies|§ 56-21-105. Impairment of Guaranty Capital — Effect

  Should the guaranty capital of any mutual fire insurance company at any time become impaired and remain so for sixty (60) days, the company shall cease issuing policies until the impairment is made good by either replacing the funds due the guaranty capital or by reducing the authorized amount of same by written notice to the commissioner by an amount equal to the impairment, but in no event to less than nine hundred fifty thousand dollars ($950,000). The company may continue to collect premiums that are due or become due on policies already in force while the impairment exists and until it is made good.   The increase in the minimum amount of guaranty capital provided by the 1969 amendment does not apply to companies qualified and authorized prior to May 7, 1969.
TN Code § 56-21-106 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 21 - State Mutual Fire Insurance Companies|§ 56-21-106. Retirement or Liquidation of Guaranty Capital

 A mutual fire insurance company may at any time use any surplus over and above all liabilities, including reinsurance reserve, for the purpose of retiring or liquidating any part of its guaranty capital. All of the guaranty capital shall be retired when an amount of net surplus of one million five hundred thousand dollars ($1,500,000) shall have been accumulated.
TN Code § 56-21-107 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 21 - State Mutual Fire Insurance Companies|§ 56-21-107. Return to Guarantors Upon Retirement or Liquidation of Guaranty Capital

 When guaranty capital is being retired or liquidated, if the guarantors have made their contributions in cash, a like amount of cash shall be repaid them; but if the same has been made in securities, the securities if not disposed of, or their cash value at the time of their sale if disposed of, shall be returned to the guarantor contributing them, or the return of the guaranty capital shall be made on such other terms as are agreed upon when the securities are deposited by the guarantor.
TN Code § 56-21-108 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 21 - State Mutual Fire Insurance Companies|§ 56-21-108. Withdrawal of Guaranty Capital or Securities by Guarantor

  A guarantor desiring to surrender the guarantor's shares and withdraw the guaranty capital or securities may do so by giving the company ninety (90) days' written notice to that effect; provided, that the withdrawal does not impair the company's guaranty capital below nine hundred fifty thousand dollars ($950,000).   The increase in the minimum amount of guaranty capital provided by the 1969 amendment does not apply to companies qualified and authorized prior to May 7, 1969.
TN Code § 56-21-109 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 21 - State Mutual Fire Insurance Companies|§ 56-21-109. Reinsurance Reserve — Computation

 When computing reinsurance reserve, policy fees, membership and endorsement fees, all agents' commissions and salaries of all agents required to have a certificate of authority from the department of commerce and insurance shall be excluded as a part of the premium receipts. The unpaid premiums in the course of collection and the unpaid premium notes of the policyholders not over twelve (12) months due shall be treated as ledger assets.
TN Code § 56-21-110 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 21 - State Mutual Fire Insurance Companies|§ 56-21-110. Deposits and Investments — Borrowing of Funds by Officers or Committee Members Prohibited — Director or Officer Not to Take Fees for Making Loans — Penalty

  The deposits and investments of every mutual fire insurance company subject to this chapter shall be made in its corporate name.   No officer of the company or member of any committee thereof charged with the investment of funds shall borrow the same or be, directly or indirectly, liable therefor, for or on account of loans made to others, nor shall any director or any officer take or receive to use any fee, brokerage, commission, gift or other consideration on account of any loan made by or on behalf of any such company; provided, that this does not prevent the persons subscribing for or securing shares of guaranty capital in any company operating on the guaranty capital plan on equal terms and conditions with other guarantors.   A violation of this section is a Class C misdemeanor.
TN Code § 56-21-111 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 21 - State Mutual Fire Insurance Companies|§ 56-21-111. Annual Report to Commissioner — Fee

 Every company subject to this chapter shall make an annual report to the commissioner, by March 1 of each year as of December 31 of the preceding year, on blank forms prepared and furnished by the commissioner for that purpose, setting forth the transactions of the company during the previous year, showing its condition at the close of the year, and shall pay to the commissioner a fee of fifty dollars ($50.00) at the time of filing the statement.
TN Code § 56-21-112 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 21 - State Mutual Fire Insurance Companies|§ 56-21-112. Injunction Against Further Business — Procedure — Appointment of Receiver

  The commissioner, whenever satisfied that any such company has exceeded its powers or has failed to comply with this chapter, or is conducting its business fraudulently, or that in the commissioner's judgment its financial condition is unsound, or that it is not maintaining the required amount of net surplus or unimpaired guaranty capital and reserve, shall have the duty to present the facts relating thereto to the attorney general and reporter, who shall, if the attorney general and reporter deems the circumstances warrant, commence an action in quo warranto or an action of that nature in any court of competent jurisdiction nearest to the company's domicile; and, if upon the trial, the court finds that the allegations in the petition are true and that legal grounds exist therefor, the company shall be enjoined from doing further business; provided, that the company shall have reasonable notice served upon it by the commissioner and shall be given reasonable opportunity and time to show cause why the proceedings should not be commenced and to make good any impairment in its guaranty capital or reserve.   Whenever, in the opinion of the court, the company should not be permitted longer to transact business, the court shall appoint a receiver for the purpose of winding up its business as in other cases of receivership in this state.
TN Code § 56-21-113 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 21 - State Mutual Fire Insurance Companies|§ 56-21-113. Guaranty Capitalized Companies Maintaining Reinsurance Reserves May Limit Premiums in Policies

 All companies operating under the guaranty capital provisions of this chapter and levying advance premiums and maintaining a full legal reinsurance reserve may limit their policyholders' liability to the amount of premiums stated in the policy or insurance contract and collect the same as set out in the policy and contract.
TN Code § 56-21-114 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 21 - State Mutual Fire Insurance Companies|§ 56-21-114. Policy and Its Prescribed Requisites Constitute the Contract

 The insurance contracts of all such companies shall be made to conform to this chapter, and shall consist of the policy proper; the constitution and bylaws of the company, which must be attached to or printed on the policy; all endorsements made on or attached to the policy; the parts of the application as are attached to or incorporated in the insurance contract; and any premium note, or other policy obligation given by the insured, all of which shall be binding on the insured as long as the insured remains a member of or policyholder in the company.
TN Code § 56-21-115 (2021)
2021 Tennessee Code|Title 56 - Insurance|Chapter 21 - State Mutual Fire Insurance Companies|§ 56-21-115. Regular and Contingent Premium Information in Policy

 The amount of the regular premium and the contingent premium shall be plainly written on the outside or title page of the policy, and it shall be plainly stated in the policy or insurance contract that it is issued in consideration of the regular premium, and the further contingent premium of not less than the same amount in addition to the premium.