reglab/statecodes huggingface dataset:
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 52 - TENNESSEE CHARITABLE GIFT ANNUITY ACT OF 2008 (§§ 56-52-101 — 56-52-111) › Section 56-52-103 - Certificate of authority - Application - Fees - Exemption

(a)
A charitable organization shall not receive any transfer of property, conditioned upon its agreement to pay an annuity to the donor or other annuitant unless and until it has obtained from the commissioner a certificate of authority to issue charitable gift annuities.
(b)
A charitable organization shall file with the commissioner its application for a certificate of authority. The application shall be on a form prescribed and furnished by the commissioner and shall be verified by two (2) of the applicant's officers. The application shall include or be accompanied by such proof as the commissioner may reasonably require that the applicant is qualified under this chapter. At filing of the application the applicant shall pay to the commissioner the applicable filing fees as specified in §
56-4-101(1)
.
(c)
If after such investigation or examination as the commissioner deems advisable, the commissioner finds that the applicant is in sound financial condition and is otherwise qualified, the commissioner shall issue to the applicant a certificate of authority. If the commissioner does not so find, the commissioner shall deny issuance of the certificate of authority and notify the applicant in writing stating the reasons.
(d)
The certificate of authority of a charitable organization issued under this chapter shall continue until suspended or revoked by the commissioner or terminated by the organization, subject to continuance each year by payment on or before March 1 of the continuance fee of one hundred dollars ($100) and filing of the annual report required under §
56-52-106
.
(e)
A person acting on behalf of a charitable organization to solicit the transfers of property in exchange for annuity payments as authorized under this chapter shall not be required to be licensed.
(f)
The commissioner shall be authorized to exempt from this section any charitable organizations or classes of organizations that the commissioner finds inappropriate to include to effectuate the purposes of this chapter.
Acts 2008, ch. 831, §§ 1, 4.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 52 - TENNESSEE CHARITABLE GIFT ANNUITY ACT OF 2008 (§§ 56-52-101 — 56-52-111) › Section 56-52-104 - Charitable gift annuity separate accounts

(a)
A charitable organization authorized by this chapter shall maintain one (1) or more charitable gift annuity separate accounts for its charitable gift annuities. The assets allocated to any such separate account shall not be used to satisfy any debts of the charitable organization other than those incurred pursuant to the issuance of charitable gift annuities to which the account applies. The assets of the separate account shall at least equal either:
(1)
The total amount of donations for outstanding charitable gift annuities to which the account applies, measured at the time of each annuity donation, later reduced by payments under the annuity and taking into account investment gains and losses; or
(2)
One hundred ten percent (110%) of the reserves, calculated in a manner consistent with subsection (b) for charitable gift annuities to which the separate account applies.
(b)
(1)
Reserves on the outstanding charitable gift annuities shall not be less than reserves calculated using:
(A)
The commissioner's annuity reserve valuation method as defined in the charitable organization's domestic state standard valuation law;
(B)
Any mortality table permitted under the charitable organization's domestic state standard valuation law to be used in determining the minimum standard for the valuation of individual annuities issued during the same calendar year as the charitable gift annuity; and
(C)
The maximum interest rate permitted under the charitable organization's domestic state standard valuation law to be used in determining the minimum standard for the valuation of individual annuities issued during the same calendar year as the charitable gift annuity; or
(2)
One hundred ten percent (110%) of reserves determined by using the Annuity 2000 Mortality Table and an interest assumption of five percent (5%), or such other mortality table and interest assumption as may be prescribed from time to time by the commissioner.
(c)
Any portion of the charitable gift annuity risk that is insured or reinsured by the charitable organization with an authorized insurer or reinsurer shall be exempt from subsection (a). For this purpose, any annuity contract purchased from an authorized insurer or reinsurer by the charitable organization is considered to be "annuity risk reinsured."
(d)
The general assets of the charitable organization shall be liable for charitable gift annuity agreements to the extent that assets allocated to the charitable gift annuity separate accounts are inadequate.
(e)
A charitable organization may, but is not required to, maintain a charitable gift annuity separate account solely applicable to its charitable gift annuities issued to Tennessee annuitants. Any charitable gift annuity separate account maintained pursuant to this subsection (e) shall be subject to the requirements of subsection (a).
Acts 2008, ch. 831, §§ 1, 5; 2011, ch. 95, §§ 1 - 3; 2012, ch. 743, §§ 1, 2.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 52 - TENNESSEE CHARITABLE GIFT ANNUITY ACT OF 2008 (§§ 56-52-101 — 56-52-111) › Section 56-52-105 - Investment of account assets

The segregated assets held in the charitable gift annuity separate account shall be invested in accordance with the prudent investor standard as set forth in the Tennessee Uniform Prudent Investor Act of 2002, compiled in title 35, chapter 14.
Acts 2008, ch. 831, §§ 1, 6.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 52 - TENNESSEE CHARITABLE GIFT ANNUITY ACT OF 2008 (§§ 56-52-101 — 56-52-111) › Section 56-52-106 - Annual report

(a)
A charitable organization authorized under this chapter shall annually file a report verified by at least two (2) principal officers with the commissioner covering the preceding fiscal year. The report is due ninety (90) days after the close of the charity's fiscal year or at a later date approved by the commissioner. Alternatively, in lieu of a verified report, a charitable organization may submit an audited report within one hundred fifty (150) days after the close of the charity's fiscal year or at a later date approved by the commissioner.
(b)
The report shall be in a form prescribed by the commissioner and shall include:
(1)
A financial statement of the organization, including its balance sheet and receipts and disbursements for the preceding year;
(2)
Any material changes in the information;
(3)
The number of gift annuity contracts issued during the year, the number of gift annuity contracts as of the end of the year and the number of gift annuity contracts that terminated during the year;
(4)
The amount of annuity payments made during the year and the amounts transferred from the charitable gift annuity separate account to the general account during the year; and
(5)
Other information relating to the performance of the charitable gift annuities and charitable gift annuity separate account of the charitable organization necessary to enable the commissioner to:
(A)
Issue certificates of authority;
(B)
Ascertain maintenance of records;
(C)
Evaluate solvency;
(D)
Respond to consumer complaints; and
(E)
Conduct hearings to determine compliance with this chapter.
(c)
A copy of a report, containing the information required under subsection (b), that has been filed in the state of domicile of the charitable organization, or in any other state in which the charitable organization must file a report containing substantially the same information required by this chapter will be deemed to satisfy the requirements of this section. The commissioner shall have the authority to request additional information.
Acts 2008, ch. 831, §§ 1, 7; 2012, ch. 743, § 3.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 52 - TENNESSEE CHARITABLE GIFT ANNUITY ACT OF 2008 (§§ 56-52-101 — 56-52-111) › Section 56-52-107 - Examination of charitable organization's assets, liabilities and affairs by commissioner

Whenever the commissioner determines it to be proper or expedient, the commissioner may make or cause to be made an examination of the assets and liabilities and other affairs of the charitable organization as they pertain to charitable gift annuity agreements entered into pursuant to this chapter. In determining a charitable organization's ability to pay its obligations under charitable gift annuities, the commissioner may limit the examinations to the charitable gift annuity separate account, unless the commissioner determines that the assets in the charitable gift annuity account are not adequate for that purpose. The authority of the commissioner under this section shall be the same as that bestowed upon the commissioner under §§
56-1-411
and
56-8-107
. The commissioner shall keep the information obtained in the course of examinations confidential until the examination is completed. The reasonable expenses incurred for an examination shall be paid by the charitable organization.
Acts 2008, ch. 831, §§ 1, 8.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 52 - TENNESSEE CHARITABLE GIFT ANNUITY ACT OF 2008 (§§ 56-52-101 — 56-52-111) › Section 56-52-108 - Charitable gift annuity - Proposed agreement form

(a)
No form of a charitable gift annuity shall be issued in this state without the approval of the commissioner. The commissioner shall, within thirty (30) days of the filing of a charitable gift annuity, approve or disapprove the proposed agreement forms and shall notify the charitable organization as soon as practicable. If the commissioner does not disapprove the proposed agreement forms within the thirty-day period, the forms shall be deemed approved.
(b)
Each annuity agreement form shall include the following information:
(1)
The value of the property to be transferred;
(2)
The amount of the annuity to be paid to the donor or other annuitant;
(3)
The manner in which and the intervals at which payment is to be made;
(4)
The age and sex of the person or persons during whose life payment is to be made;
(5)
The reasonable value as of the date of the agreement of the benefits created as calculated using methodology approved by the internal revenue service; and
(6)
The date the payments are to begin.
Acts 2008, ch. 831, §§ 1, 9.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 52 - TENNESSEE CHARITABLE GIFT ANNUITY ACT OF 2008 (§§ 56-52-101 — 56-52-111) › Section 56-52-109 - Written acknowledgments from donor

(a)
Within a reasonable amount of time after accepting the property transferred in exchange for the annuity agreement, the organization shall obtain a signed statement from a donor acknowledging the following terms of the agreement:
(1)
The expected value of the property to be transferred;
(2)
The amount of the annuity to be paid to the donor or other annuitant;
(3)
The manner in which and the intervals at which payment is to be made;
(4)
The age of the person or persons during whose life payment is to be made;
(5)
The reasonable value as of the date of the agreement of the benefits created; and
(6)
The date the payments are to begin.
(b)
In addition to the disclosure in subsection (a), the charitable organization shall obtain a signed statement from a donor acknowledging that the donor has been informed that payments made under a charitable gift annuity are backed solely by the full faith and credit of the organization, are not insured or guaranteed by an insurance company, are not protected by any insurance guaranty association and are not backed in any way by the state of Tennessee.
(c)
The requirements of subsections (a) and (b) may be satisfied by an acknowledgement that is a part of the annuity agreement that is signed by the donor.
(d)
A donor may revoke any donation under this chapter prior to signing the written acknowledgement required in subsections (a) and (b).
Acts 2008, ch. 831, § 10.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 52 - TENNESSEE CHARITABLE GIFT ANNUITY ACT OF 2008 (§§ 56-52-101 — 56-52-111) › Section 56-52-110 - Applicability of title provisions

(a)
Chapter 8 of this title shall apply to charitable gift annuities issued under this chapter.
(b)
Except as otherwise provided in this chapter, this title, including, but not limited to, chapters 3, 9, and 12, shall not apply to charitable gift annuities issued under this chapter.
Acts 2008, ch. 831, § 11.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 52 - TENNESSEE CHARITABLE GIFT ANNUITY ACT OF 2008 (§§ 56-52-101 — 56-52-111) › Section 56-52-111 - Rules and regulations

The commissioner may, after notice and hearing, promulgate reasonable rules, regulations and orders as are necessary or proper to carry out and effectuate this chapter, including, but not limited to, the standards for determining financial soundness and other qualifications of a charitable organization wishing to issue charitable gift annuities in this state. The regulations shall be subject to review in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.
Acts 2008, ch. 831, § 12.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 53 - INSURANCE FRAUD (§§ 56-53-101 — 56-53-112) › Section 56-53-102 - Fraudulent insurance act - Criminal violations

(a)
Any person who, knowingly and with intent to defraud, and for the purpose of depriving another of property or for pecuniary gain, commits, participates in or aids, abets, or conspires to commit or solicits another person to commit, or intentionally permits its employees or its agents to commit any of the following acts, has committed a fraudulent insurance act:
(1)
Presents, causes to be presented, or prepares with knowledge or belief that it will be presented, by or on behalf of an insured, claimant or applicant to an insurer, insurance professional or premium finance company in connection with an insurance transaction or premium finance transaction, any information that contains false representations as to any material fact, or that withholds or conceals a material fact concerning any of the following:
(A)
The application for, rating of, or renewal of, any insurance policy;
(B)
A claim for payment or benefit pursuant to any insurance policy;
(C)
Payments made in accordance with the terms of any insurance policy; or
(D)
The application used in any premium finance transaction;
(2)
Presents, causes to be presented, or prepares with knowledge or belief that it will be presented, to or by an insurer, insurance professional or a premium finance company in connection with an insurance transaction or premium finance transaction, any information that contains false representations as to any material fact, or that withholds or conceals a material fact, concerning any of the following:
(A)
The solicitation for sale of any insurance policy or purported insurance policy;
(B)
An application for certificate of authority;
(C)
The financial condition of any insurer; or
(D)
The acquisition, formation, merger, affiliation or dissolution of any insurer;
(3)
Solicits or accepts new or renewal insurance risks by or for an insolvent insurer;
(4)
Removes the assets or records of assets, transactions and affairs or a material part of the assets or records, from the home office or other place of business of the insurer, or from the place of safekeeping of the insurer, or destroys or sequesters the same from the department; or
(5)
Diverts, misappropriates, converts or embezzles funds of an insurer, an insured, claimant or applicant for insurance in connection with:
(A)
An insurance transaction;
(B)
The conduct of business activities by an insurer or insurance professional; or
(C)
The acquisition, formation, merger, affiliation or dissolution of any insurer.
(b)
It shall be unlawful for any person to commit, or to attempt to commit, or aid, assist, abet or solicit another to commit, or to conspire to commit a fraudulent insurance act.
Acts 2001, ch. 356, § 3.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 53 - INSURANCE FRAUD (§§ 56-53-101 — 56-53-112) › Section 56-53-103 - Unlawful insurance act - Civil violations

(a)
Any person who commits, participates in, or aids, abets, or conspires to commit, or solicits another person to commit, or permits its employees or its agents to commit any of the following acts with an intent to induce reliance, has committed an unlawful insurance act:
(1)
Presents, causes to be presented, or prepares with knowledge or belief that it will be presented, by or on behalf of an insured, claimant or applicant to an insurer, insurance professional or a premium finance company in connection with an insurance transaction or premium finance transaction, any information that the person knows to contain false representations, or representations the falsity of which the person has recklessly disregarded, as to any material fact, or that withholds or conceals a material fact, concerning any of the following:
(A)
The application for, rating of, or renewal of, any insurance policy;
(B)
A claim for payment or benefit pursuant to any insurance policy;
(C)
Payments made in accordance with the terms of any insurance policy; or
(D)
The application for the financing of any insurance premium;
(2)
Presents, causes to be presented, or prepares with knowledge or belief that it will be presented, to or by an insurer, insurance professional or a premium finance company in connection with an insurance transaction or premium finance transaction, any information that the person knows to contain false representations, or representations the falsity of which the person has recklessly disregarded, as to any material fact, or that withholds or conceals a material fact, concerning any of the following:
(A)
The solicitation for sale of any insurance policy or purported insurance policy;
(B)
An application for certificate of authority;
(C)
The financial condition of any insurer; or
(D)
The acquisition, formation, merger, affiliation or dissolution of any insurer; or
(3)
Solicits or accepts new or renewal insurance risks by or for an insurer that the person knows was insolvent or the insolvency of which the person recklessly disregards.
(b)
It shall be unlawful for any person to commit, or to attempt to commit, or aid, assist, abet or solicit another to commit, or to conspire to commit an unlawful insurance act.
Acts 2001, ch. 356, § 4.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 53 - INSURANCE FRAUD (§§ 56-53-101 — 56-53-112) › Section 56-53-104 - Criminal penalties

A person who violates §
56-53-102
shall be punished and subject to the penalties under §
39-14-133
.
Acts 2001, ch. 356, § 5.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 53 - INSURANCE FRAUD (§§ 56-53-101 — 56-53-112) › Section 56-53-105 - Restitution

(a)
A person convicted of a violation of §
56-53-102
shall be ordered to make monetary restitution for any financial loss or damages sustained by any other person as a result of the violation. Financial loss or damage shall include, but is not necessarily limited to, loss of earnings, out-of-pocket and other expenses, paid deductible amounts under an insurance policy, insurer claim payments, cost reasonably attributed to investigations and recovery efforts by owners, insurers, insurance professionals, law enforcement and other public authorities, and cost of prosecution.
(b)
When restitution is ordered, the court shall determine its extent and methods. Restitution may be imposed in addition to a fine and, if ordered, any other penalty, but not in lieu thereof. The court shall determine whether restitution, if ordered, shall be paid in a single payment or installments and shall fix a period of time, not in excess of three (3) years, within which payment of restitution is to be made in full.
Acts 2001, ch. 356, § 6.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 53 - INSURANCE FRAUD (§§ 56-53-101 — 56-53-112) › Section 56-53-106 - Administrative penalties

(a)
(1)
Any practitioner determined by the court to have violated §
56-53-102
shall be deemed to have committed an act involving moral turpitude that is inimical to the public well being. The court or prosecutor shall notify the appropriate licensing authority in this state of the judgment for appropriate disciplinary action, including revocation of the professional license, and may notify appropriate licensing authorities in any other jurisdictions where the practitioner is licensed. Any victim may notify the appropriate licensing authorities in this state and any other jurisdiction where the practitioner is licensed, of the conviction.
(2)
Upon notification of a conviction of the crimes enumerated in §
56-53-102
or a substantially similar crime under the laws of another state or the United States, this state's appropriate licensing authority may hold an administrative hearing, or take other appropriate administrative action authorized by state law, to consider the imposition of the administrative sanctions as provided by law against the practitioner. Where the practitioner has been convicted of a felony violation of §
56-53-102
or a substantially similar crime under the laws of another state or of the United States, this state's appropriate licensing authority may hold an administrative hearing, or take other appropriate administrative action authorized by state law, and may summarily and permanently revoke the license or take other action against the licensee as deemed appropriate. It is recommended by the legislature that the supreme court shall summarily and permanently disbar any attorney found guilty of such felony.
(3)
The referrals to the appropriate licensing or other agencies, and all dispositive actions of the referral, shall be a matter of public record.
(b)
(1)
A person convicted of a felony involving dishonesty or breach of trust shall not participate in the business of insurance unless a waiver is granted by the commissioner.
(2)
A person in the business of insurance shall not knowingly or intentionally permit a person convicted of a felony involving dishonesty or breach of trust to participate in the business of insurance unless a waiver has been granted by the commissioner pursuant to subdivision (b)(1).
Acts 2001, ch. 356, § 7.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 53 - INSURANCE FRAUD (§§ 56-53-101 — 56-53-112) › Section 56-53-108 - Exclusivity of remedies

The remedies expressly provided in §
56-53-107
shall be the only private remedies for violations of this chapter and no additional remedies shall be implied. The remedies available under §
56-53-107
shall not be used in conjunction with or in addition to any other remedies available at law or in equity to duplicate recovery for the same element of economic damage. Further, in any civil action pleading both exemplary damages and the treble damages available in §
56-53-107(c)
, the plaintiff shall elect one (1) or the other remedy, but not both, at the conclusion of the evidentiary phase of the trial; provided, that nothing in this chapter shall limit or abrogate any right of action that would have existed in the absence of this chapter, but no action based on such a right shall rely on this chapter to establish a standard of conduct or for any other purpose.
Acts 2001, ch. 356, § 9.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 53 - INSURANCE FRAUD (§§ 56-53-101 — 56-53-112) › Section 56-53-109 - Cooperation

(a)
When any law enforcement official or authority, any insurance department, state division of insurance fraud, or state or federal regulatory or licensing authority requests information from an insurer or insurance professional for the purpose of detecting, prosecuting or preventing insurance fraud, the insurer or insurance professional shall take all reasonable actions to provide the information requested, subject to any legal privilege protecting the information.
(b)
Any insurer or insurance professional who has reasonable belief that an act violating §
56-53-102
or §
56-53-103
will be, is being, or has been committed shall furnish and disclose any information in the insurance professional's possession concerning the act to the appropriate law enforcement official or authority, insurance department, state division of insurance fraud, or state or federal regulatory or licensing authority, subject to any legal privilege protecting the information. In no case shall the information be required by subpoena or otherwise to be given to the person alleged to have committed a violation, unless in possession of an insurer and that insurer used the information to deny a claim of the person, in whole or in part.
(c)
All documents or other information submitted to or generated by a law enforcement, regulatory, licensing or other governmental agency pursuant to subsection (a) or (b) shall not be subject to disclosure pursuant to the public records laws, codified in title 10, chapter 7, and shall be confidential unless disclosed by the law enforcement, regulatory, licensing or other governmental agency at the agency's sole discretion.
(d)
Any person who has a reasonable belief that an act violating this chapter will be, is being, or has been committed, or any person who collects, reviews or analyzes information concerning insurance fraud may furnish and disclose any information in the person's possession concerning the act to an authorized representative of an insurer who requests the information for the purpose of detecting, prosecuting or preventing insurance fraud.
(e)
Failure to cooperate with a request for information from an appropriate local, state or federal governmental authority shall bar a person's eligibility for restitution from any proceeds resulting from the governmental investigation and prosecution. This subsection (e) shall not be construed as limiting the ability of any governmental authority from imposing lawful civil discipline upon a person or entity that fails to cooperate with a request for information as delineated in this subsection (e).
Acts 2001, ch. 356, § 10.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 53 - INSURANCE FRAUD (§§ 56-53-101 — 56-53-112) › Section 56-53-110 - Immunity

In the absence of actual malice, no person furnishing, disclosing or requesting information pursuant to §
56-53-109
shall be subject to civil liability for libel, slander, or any other cause of action arising from the furnishing, disclosing or requesting of the information. No person providing information pursuant to §
56-53-109(a)
shall be subject to civil liability for any cause of action arising from the person's provision of requested information. Any person against whom any action is brought who is found to be immune from liability under this section, shall be entitled to recover reasonable attorneys' fees and costs from the person or party who brought the action. This section does not abrogate or modify in any way any common law or statutory privilege or immunity heretofore enjoyed by any person.
Acts 2001, ch. 356, § 11.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 53 - INSURANCE FRAUD (§§ 56-53-101 — 56-53-112) › Section 56-53-111 - Regulatory requirements

(a)
Anti-Fraud Plans.
(1)
By January 1, 2002, every insurer with direct written premiums exceeding ten million dollars ($10,000,000) shall prepare, implement, and maintain an insurance anti-fraud plan. Each insurer's anti-fraud plan shall outline specific procedures, appropriate to the type of insurance the insurer writes in this state, to:
(A)
Prevent, detect and investigate all forms of insurance fraud, including fraud involving the insurer's employees or agents; fraud resulting from misrepresentations in the application, renewal or rating of insurance policies; claims fraud; and security of the insurer's data processing systems;
(B)
Educate appropriate employees on fraud detection and the insurer's anti-fraud plan;
(C)
Provide for the hiring of or contracting for fraud investigators;
(D)
Report insurance fraud to appropriate law enforcement and regulatory authorities in the investigation and prosecution of insurance fraud; and
(E)
Pursue restitution for financial loss caused by insurance fraud, where appropriate.
(2)
The commissioner may review each insurer's anti-fraud plan at the time of the insurance company's financial examination or market conduct examination or at any other time when requested by the commissioner.
(3)
The commissioner may require each insurer to file a summary of the insurer's anti-fraud activities and results. The anti-fraud plans and the summary of the insurer's anti-fraud activities and results are not public records and are exempt from the public records act, and shall be proprietary and not subject to public examination, and shall not be discoverable or admissible in civil litigation.
(4)
This subsection (a) confers no private rights of action.
(b)
Fraud Warnings.
(1)
(A)
By January 1, 2002, all applications for insurance, and all claim forms regardless of the form of transmission provided and required by an insurer or required by law as a condition of payment of a claim, shall contain a statement, permanently affixed to the application or claim form, that clearly states in substance the following, or words to that effect:
"It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of defrauding the company. Penalties include imprisonment, fines and denial of insurance benefits."
(B)
The lack of a statement required in this subsection (b) does not constitute a defense in any criminal prosecution under §
56-53-102
nor in any civil action under §
56-53-102
or §
56-53-103
.
(2)
The warning required by subdivision (b)(1) shall not be required on forms relating to reinsurance.
(c)
Enforcement.
Notwithstanding any other law, the following are the exclusive monetary penalties for violation of this section. Insurers that fail to prepare, implement, and maintain an insurance anti-fraud plan are subject to a penalty of five hundred dollars ($500) per day, not to exceed twenty-five thousand dollars ($25,000).
Acts 2001, ch. 356, § 12.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 53 - INSURANCE FRAUD (§§ 56-53-101 — 56-53-112) › Section 56-53-112 - Inapplicable to workers' compensation

Nothing in this chapter shall apply to a workers' compensation insurance policy as defined in §
56-47-102
, and the Workers' Compensation Fraud Act, compiled in chapter 47 of this title, shall continue in full force and effect.
Acts 2001, ch. 356, § 13.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 54 - TENNESSEE HEALTH CARE LIABILITY REPORTING ACT (§§ 56-54-101 — 56-54-111) › Section 56-54-101 - [Repealed]

Repealed by 2021 Tenn. Acts, ch. 537, s 8, eff. 5/25/2021.
Acts 2008 , ch. 1009, § 2; 2012 , ch. 798, § 27.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 54 - TENNESSEE HEALTH CARE LIABILITY REPORTING ACT (§§ 56-54-101 — 56-54-111) › Section 56-54-102 - [Repealed]

Repealed by 2021 Tenn. Acts, ch. 537, s 8, eff. 5/25/2021.
Acts 2008 , ch. 1009, § 3; 2012 , ch. 798, § 28.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 54 - TENNESSEE HEALTH CARE LIABILITY REPORTING ACT (§§ 56-54-101 — 56-54-111) › Section 56-54-103 - [Repealed]

Repealed by 2021 Tenn. Acts, ch. 537, s 8, eff. 5/25/2021.
Acts 2008 , ch. 1009, § 4; 2012 , ch. 798, § 29.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 54 - TENNESSEE HEALTH CARE LIABILITY REPORTING ACT (§§ 56-54-101 — 56-54-111) › Section 56-54-104 - [Repealed]

Repealed by 2021 Tenn. Acts, ch. 537, s 8, eff. 5/25/2021.
Acts 2008 , ch. 1009, § 5; 2012 , ch. 798, § 30.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 54 - TENNESSEE HEALTH CARE LIABILITY REPORTING ACT (§§ 56-54-101 — 56-54-111) › Section 56-54-105 - [Repealed]

Repealed by 2021 Tenn. Acts, ch. 537, s 8, eff. 5/25/2021.
Acts 2008 , ch. 1009, § 6; 2011 , ch. 112, § 1; 2012 , ch. 798, § 31.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 54 - TENNESSEE HEALTH CARE LIABILITY REPORTING ACT (§§ 56-54-101 — 56-54-111) › Section 56-54-106 - [Repealed]

Repealed by 2021 Tenn. Acts, ch. 537, s 8, eff. 5/25/2021.
Acts 2008 , ch. 1009, § 7; 2012 , ch. 798, §§ 32, 33.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 54 - TENNESSEE HEALTH CARE LIABILITY REPORTING ACT (§§ 56-54-101 — 56-54-111) › Section 56-54-107 - [Repealed]

Repealed by 2021 Tenn. Acts, ch. 537, s 8, eff. 5/25/2021.
Acts 2008 , ch. 1009, § 8.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 54 - TENNESSEE HEALTH CARE LIABILITY REPORTING ACT (§§ 56-54-101 — 56-54-111) › Section 56-54-108 - [Repealed]

Repealed by 2021 Tenn. Acts, ch. 537, s 8, eff. 5/25/2021.
Acts 2008 , ch. 1009, § 9.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 54 - TENNESSEE HEALTH CARE LIABILITY REPORTING ACT (§§ 56-54-101 — 56-54-111) › Section 56-54-109 - [Repealed]

Repealed by 2021 Tenn. Acts, ch. 537, s 8, eff. 5/25/2021.
Acts 2008 , ch. 1009, § 10.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 54 - TENNESSEE HEALTH CARE LIABILITY REPORTING ACT (§§ 56-54-101 — 56-54-111) › Section 56-54-110 - [Repealed]

Repealed by 2021 Tenn. Acts, ch. 537, s 8, eff. 5/25/2021.
Acts 2008 , ch. 1009, § 11.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 54 - TENNESSEE HEALTH CARE LIABILITY REPORTING ACT (§§ 56-54-101 — 56-54-111) › Section 56-54-111 - [Repealed]

Repealed by 2021 Tenn. Acts, ch. 537, s 8, eff. 5/25/2021.
Acts 2008 , ch. 1009, § 12; 2011 , ch. 112, § 2.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 55 - TENNESSEE VEHICLE PROTECTION PRODUCT ACT (§§ 56-55-101 — 56-55-115) › Section 56-55-101 - Short title

This chapter shall be known and may be cited as the "Tennessee Vehicle Protection Product Act."
Acts 2005, ch. 244, § 2.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 55 - TENNESSEE VEHICLE PROTECTION PRODUCT ACT (§§ 56-55-101 — 56-55-115) › Section 56-55-102 - Chapter definitions

As used in this chapter, unless the context otherwise requires:
(1)
"Administrator" means a third party, other than the warrantor, who is designated by the warrantor to be responsible for the administration of vehicle protection product warranties;
(2)
"Commissioner" means the commissioner of commerce and insurance;
(3)
"Incidental costs" means expenses specified in the warranty, incurred by the warranty holder, related to the failure of the vehicle protection product to perform as provided in the warranty. Incidental costs may include, but not be limited to, insurance policy deductibles, rental vehicle charges, the difference between the actual value of the stolen vehicle at the time of theft and the cost of a replacement vehicle, sales taxes, registration fees, transaction fees, and mechanical inspection fees;
(4)
(A)
"Vehicle protection product" means a vehicle protection device, system, or service that:
(i)
Is installed on or applied to a vehicle;
(ii)
Is designed to prevent loss or damage to a vehicle from a specific cause; and
(iii)
Includes a written warranty;
(B)
"Vehicle protection product" includes, but is not limited to, alarm systems, body part marking products, steering locks, window etch products, pedal and ignition locks, fuel and ignition kill switches, and electronic, radio, and satellite tracking devices;
(5)
"Vehicle protection product warrantor" or "warrantor" means a person who is contractually obligated to the warranty holder under the terms of the vehicle protection product warranty agreement. "Warrantor" does not include an authorized insurer;
(6)
"Vehicle protection product warranty" or "warranty" means a written agreement by a warrantor that provides that, if the vehicle protection product fails to prevent loss or damage to a vehicle from a specific cause, then the warranty holder shall be paid specified incidental costs by the warrantor as a result of the failure of the vehicle protection product to perform pursuant to the terms of the warranty;
(7)
"Warranty holder" means the person who purchases a vehicle protection product or who is a permitted transferee; and
(8)
"Warranty reimbursement insurance policy" means a policy of insurance that is issued to the vehicle protection product warrantor to provide reimbursement to the warrantor, or to pay on behalf of the warrantor, all covered contractual obligations incurred by the warrantor under the terms and conditions of the insured vehicle protection product warranties sold by the warrantor.
Acts 2005, ch. 244, § 3.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 55 - TENNESSEE VEHICLE PROTECTION PRODUCT ACT (§§ 56-55-101 — 56-55-115) › Section 56-55-103 - Prohibited sales - Restrictions

(a)
No vehicle protection product may be sold or offered for sale in this state unless the seller, warrantor, and administrator, if any, comply with this chapter.
(b)
A vehicle protection product warranty provided or sold in compliance with this chapter is not a contract of insurance.
(c)
Warranties, indemnity agreements, and guarantees that are not provided as a part of a vehicle protection product are not subject to this chapter.
Acts 2005, ch. 244, § 4.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 55 - TENNESSEE VEHICLE PROTECTION PRODUCT ACT (§§ 56-55-101 — 56-55-115) › Section 56-55-104 - Registration as a warrantor - Registration records - Fees - Revocation for failure to register

(a)
A person may not operate as a warrantor, or represent to the public that the person is a warrantor, unless the person is registered with the department on a form prescribed by the commissioner.
(b)
Warrantor registration records shall be filed annually and shall be updated by the warrantor within thirty (30) days of any change. The registration records shall contain the following information:
(1)
The warrantor's name, any other names under which the warrantor does business in this state, principal office address, and telephone number;
(2)
The names of the warrantor's executive officer or officers directly responsible for the warrantor's vehicle protection product business;
(3)
The name, address, and telephone number of any administrators designated by the warrantor to be responsible for the administration of vehicle protection product warranties in this state;
(4)
A copy of the warranty reimbursement insurance policy or policies, or other financial information required by §
56-55-105
;
(5)
A copy of each warranty the warrantor proposes to use in this state; and
(6)
A statement indicating under which provision of §
56-55-105
the warrantor qualifies to do business in this state as a warrantor.
(c)
The commissioner may charge each registrant a reasonable fee to offset the cost of processing the registration and maintaining the records. The fee shall be set by the commissioner in an amount not to exceed the amount necessary to defray the department's expenses in administering this chapter.
(d)
If a registrant fails to register by the renewal deadline, the commissioner shall give the registrant written notice of the failure, and the registrant shall have thirty (30) days to complete the renewal of the registration before the registration is revoked. Revocation for failure to renew a registration does not require any additional notice or a hearing.
(e)
An administrator or person who sells or solicits a sale of a vehicle protection product, but who is not a warrantor, shall not be required to register as a warrantor, or be licensed under the insurance laws of this state, to sell vehicle protection products.
Acts 2005, ch. 244, § 5.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 55 - TENNESSEE VEHICLE PROTECTION PRODUCT ACT (§§ 56-55-101 — 56-55-115) › Section 56-55-105 - Conditions of required warranty insurance policy by warrantor

No vehicle protection product shall be sold or offered for sale in this state unless the vehicle protection product warrantor is insured under a warranty insurance policy meeting the following conditions in order to ensure adequate performance under the warranty:
(1)
The warranty reimbursement insurance policy is issued by an insurer authorized to do business in this state and provides that the insurer will pay to, or on behalf of, the warrantor one hundred percent (100%) of all sums that the warrantor is legally obligated to pay according to the warrantor's contractual obligations under the warrantor's vehicle protection product warranty;
(2)
A true and correct copy of the warranty reimbursement insurance policy has been filed with the commissioner by the warrantor; and
(3)
The policy contains the provisions required by §
56-55-106
.
Acts 2005, ch. 244, § 6.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 55 - TENNESSEE VEHICLE PROTECTION PRODUCT ACT (§§ 56-55-101 — 56-55-115) › Section 56-55-106 - Conditions on sale of warranty reimbursement insurance policies

No warranty reimbursement insurance policy shall be issued, sold, or offered for sale in this state unless the policy meets the following conditions:
(1)
The policy states that the issuer of the policy will reimburse, or pay on behalf of the vehicle protection product warrantor, all covered sums that the warrantor is legally obligated to pay, or will provide all service that the warrantor is legally obligated to perform, according to the warrantor's contractual obligations under the provisions of the insured warranties sold by the warrantor;
(2)
The policy states that, in the event that payment due under the terms of the warranty is not provided by the warrantor within sixty (60) days after proof of loss has been filed according to the terms of the warranty by the warranty holder, the warranty holder may file directly with the warranty reimbursement insurance company for reimbursement;
(3)
The policy provides that a warranty reimbursement insurance company that insures a warranty shall be deemed to have received payment of the premium, if the warranty holder paid for the vehicle protection product and the insurer's liability under the policy shall not be reduced or relieved by a failure of the warrantor, for any reason, to report the issuance of a warranty to the insurer; and
(4)
The policy has the following provisions regarding cancellation of the policy:
(A)
The issuer of a reimbursement insurance policy shall not cancel the policy until a notice of cancellation, in writing, has been mailed or delivered to the commissioner and each insured warrantor;
(B)
The cancellation of a reimbursement insurance policy shall not reduce the issuer's responsibility for vehicle protection products sold prior to the date of cancellation; and
(C)
In the event an insurer cancels a policy that a warrantor has filed with the commissioner, the warrantor will do either of the following:
(i)
File a copy of a new policy with the commissioner before the termination of the prior policy; provided, that there is no lapse in coverage following the termination of the prior policy; or
(ii)
Discontinue acting as a warrantor as of the termination date of the policy, until a new policy becomes effective and is accepted by the commissioner.
Acts 2005, ch. 244, § 7.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 55 - TENNESSEE VEHICLE PROTECTION PRODUCT ACT (§§ 56-55-101 — 56-55-115) › Section 56-55-107 - Warranty requirements - Documentation of sale to be furnished purchaser

(a)
Every vehicle protection product warranty shall be written in clear, understandable language and shall be printed or typed in an easy-to-read point size and font and shall not be sold or offered for sale in the state unless the warranty:
(1)
Contains a disclosure that reads substantially as follows: "This agreement is a product warranty and is not insurance.";
(2)
Identifies the warrantor, the administrator, if any, the seller, and the warranty holder;
(3)
Sets forth the procedure for making a claim, including a telephone number;
(4)
Sets forth the total purchase price and the terms under which it is to be paid; provided, however, that the purchase price is not required to be preprinted on the vehicle protection product warranty and may be negotiated with the consumer at the time of sale;
(5)
Sets forth any terms, restrictions, or conditions governing transferability of the warranty, if any;
(6)
Conspicuously sets forth all of the obligations and duties of the warranty holder, such as the duty to protect against any further damage to the vehicle, the obligation to notify the warrantor in advance of any repair, or other similar requirements, if any;
(7)
Conspicuously states the existence of a deductible amount, if any;
(8)
Specifies the payments or performance to be provided under the warranty, including payments for incidental costs, the manner of calculation or determination of payments or performance, and any limitations, exceptions, or exclusions;
(9)
Sets forth the conditions on which substitution will be allowed;
(10)
Conspicuously states that the obligations of the warrantor to the warranty holder are insured under a warranty reimbursement insurance policy;
(11)
Conspicuously states that, in the event a warranty holder must make a claim against a party other than the warranty reimbursement insurance policy issuer, the warranty holder is entitled to make a direct claim against the insurer upon the failure of the warrantor to pay any claim or meet any obligation under the terms of the warranty, within sixty (60) days after proof of loss has been filed with the warrantor; and
(12)
Conspicuously states the name and address of the issuer of the warranty reimbursement insurance policy. This information need not be preprinted on the warranty form, but may be stamped on the warranty.
(b)
At the time of sale, the seller or warrantor shall provide to the purchaser:
(1)
A copy of the vehicle protection product warranty; or
(2)
A receipt, or other written evidence of the purchase of the vehicle protection product, and a copy of the warranty, within thirty (30) days of the date of purchase.
Acts 2005, ch. 244, § 8.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 55 - TENNESSEE VEHICLE PROTECTION PRODUCT ACT (§§ 56-55-101 — 56-55-115) › Section 56-55-108 - Cancellation of sale and warranty

(a)
No vehicle protection product may be sold or offered for sale in this state, unless the vehicle protection product warranty clearly states the terms and conditions governing the cancellation of the sale and warranty, if any.
(b)
The warrantor may only cancel the warranty if the warranty holder does any of the following:
(1)
Fails to pay for the vehicle protection product;
(2)
Makes a material misrepresentation to the seller or warrantor;
(3)
Commits fraud; or
(4)
Substantially breaches the warranty holder's duties under the warranty.
(c)
A warrantor canceling a warranty shall mail written notice of cancellation to the warranty holder at the last address of the warranty holder in the warrantor's records, at least thirty (30) days prior to the effective date of the cancellation. The notice shall state the effective date of the cancellation and the reason for the cancellation.
Acts 2005, ch. 244, § 9.