reglab/statecodes huggingface dataset:
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 2 - TAXES (§§ 56-4-201 — 56-4-221) › Section 56-4-212 - Period covered by payments

The taxes imposed under this part shall be for the privilege of transacting business for each calendar quarter of each year but shall be measured by the gross premiums and consideration received by the respective companies during the quarter immediately preceding.
Amended by 2015 Tenn. Acts, ch. 155,s 11, eff. 4/17/2015.
Acts 1945, ch. 3, § 8; C. Supp. 1950, § 1248.48 (Williams, § 1248.176); modified; T.C.A. (orig. ed), § 56-416.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 2 - TAXES (§§ 56-4-201 — 56-4-221) › Section 56-4-213 - Exemption from other taxes

(a)
The payment of the taxes provided in this part shall be in lieu of all other taxes, except as provided in §
56-4-217
, except ad valorem taxes upon real and personal property, and except fees required by law of the companies.
(b)
Nothing in this section shall be construed to provide an exemption from the sales and use tax imposed by title 67, chapter 6.
Acts 1945, ch. 3, § 6; mod. C. Supp. 1950, § 1248.46 (Williams, § 1248.174); T.C.A. (orig. ed.), § 56-417; Acts 2005, ch. 499, § 22.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 2 - TAXES (§§ 56-4-201 — 56-4-221) › Section 56-4-214 - Liability after ceasing to transact new business

Any insurance company ceasing for any cause to transact new business in this state shall continue to pay the taxes provided in this part in accordance with §
56-4-215
.
Acts 1945, ch. 3, § 1; C. Supp. 1950, § 1248.41 (Williams, § 1248.169); T.C.A. (orig. ed.), § 56-418.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 2 - TAXES (§§ 56-4-201 — 56-4-221) › Section 56-4-215 - Foreign companies - Tax upon business in force upon ceasing to transact new business - Failure to pay tax, penalty - Condition to obtain or renew license

(a)
A foreign insurance company that takes out or renews a license to transact business in this state shall, upon the expiration of their license for any cause, or upon their ceasing to transact new business in this state, continue to pay the same tax upon its business remaining in force in this state, and in like manner and at like times as other duly licensed insurance companies of the same class are required to pay by any current law in force at that time.
(b)
Such foreign companies that fail to pay the taxes required of them by this section, within sixty (60) days after the taxes are due, shall be liable for a penalty of fifty percent (50%) in addition to the taxes, recoverable at law or in equity.
(c)
Compliance with this section shall be a condition upon which any foreign insurance company shall be authorized to obtain or renew a license, and the acceptance of these terms or conditions shall be conclusively presumed from the taking out or the renewing of the license.
Acts 1903, ch. 442, §§ 2-4; Shan., §§ 3302a2-3302a4; Code 1932, §§ 6120-6122; T.C.A. (orig. ed.), § 56-419.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 2 - TAXES (§§ 56-4-201 — 56-4-221) › Section 56-4-217 - Credit against franchise and excise taxes

(a)
The amount of the premium taxes collected under §§
56-4-201
- 56-4-214 shall be a single credit against the sum total of the taxes imposed by the Franchise Tax Law, compiled in title 67, chapter 4, part 21, and by the Excise Tax Law, compiled in title 67, chapter 4, part 20.
(b)
For tax years beginning on or after December 15, 2002, the excise tax imposed by title 67, chapter 4, part 20, and the franchise tax imposed by title 67, chapter 4, part 21, shall no longer be applicable to insurance companies, as defined in §
56-1-102
.
Acts 1945, ch. 3, § 4; 1947, ch. 201, § 1; mod. C. Supp. 1950, § 1248.44 (Williams, § 1248.172); T.C.A. (orig. ed.), § 56-421; Acts 1997, ch. 508, § 1; 2008, ch. 1106, § 54.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 2 - TAXES (§§ 56-4-201 — 56-4-221) › Section 56-4-219 - Refund of erroneously paid taxes

(a)
With respect to any revenues or receipts collected by the department, any other law to the contrary notwithstanding, the amounts determined to have been erroneously paid may be refunded by the procedure developed by the commissioner of finance and administration and approved by the comptroller of the treasury.
(b)
The procedure shall provide that no refund shall be made unless within three (3) years from December 31 of the year in which the erroneous payment was made the refund is either requested by the claimant or made by the state on its own motion. A refund of taxes that is based solely on a final court adjudication shall not be made to any person that is not either a party to the action or a party to another similar action brought pursuant to title 67, chapter 1, part 9. The decision of the appropriate state official with respect to any refund request shall be final and not subject to review in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.
Acts 1984, ch. 633, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 2 - TAXES (§§ 56-4-201 — 56-4-221) › Section 56-4-220 - Exemption of life insurance and annuity premiums

(a)
The rate of taxation shall be zero (0) on all premiums or considerations under life insurance policies or annuity contracts issued in connection with any pension plan, annuity plan or profit-sharing plan qualified for federal income tax advantages under the Internal Revenue Code of 1954, part I, subchapter D, subtitle A (
26 U.S.C. § 401
et seq.), or to any trust qualified for income tax advantages under the Internal Revenue Code of 1954, § 501(a) (
26 U.S.C. § 501(a)
).
(b)
This section is declared to be remedial in nature and to that end shall apply to all such life insurance policies, annuity contracts or trusts occurring on or after January 1, 1988.
Acts 1988, ch. 1038, §§ 1, 2.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 2 - TAXES (§§ 56-4-201 — 56-4-221) › Section 56-4-221 - In-state insurance companies - Reinsurance agreements with insurance company affiliates

(a)
An in-state insurance company that has an insurance company affiliate may enter into reinsurance agreements with the affiliate, pursuant to which the tax imposed on gross premiums under §
56-4-205
is allocated from the ceding company to the reinsuring company. The reinsurance agreements shall be effective to enable the reinsuring company to use the premium tax liability so allocated as a credit under §
56-4-217
; provided, that the ceding company may not use as a credit under §
56-4-217
any tax liability allocated by the ceding company to the reinsuring company. No allocation of premium tax liability as described in this section shall relieve the ceding company from responsibility for payment of the full premium tax on insurance business written in this state and for the filing of sworn returns in accordance with this section. Nothing in this section shall result in a reduction of the premium tax and franchise and excise tax liability of the ceding company from that which would have been imposed in the absence of this section.
(b)
As used in this section:
(1)
"In-state insurance company" means an insurance company:
(A)
Having its principal place of business in this state; and
(B)
That does not transact insurance business in any other state; and
(2)
"Insurance company affiliate" means a corporation:
(A)
Authorized to conduct insurance business in this state after March 19, 1991;
(B)
That does not transact insurance business in any other state; and
(C)
Fifty percent (50%) or more of the voting stock of which is directly or indirectly controlled by, or under common control with, an in-state insurance company.
Acts 1991, ch. 39, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 3 - INVESTMENT COMPANIES (§§ 56-4-301 — 56-4-309) › Section 56-4-301 - Tax imposed

(a)
Every corporation, company, partnership, or individual writing, issuing, servicing and/or collecting installments on contracts now being written or issued or contracts heretofore written, issued and sold in this state, commonly known as income reserve contracts, installment investment trusts, including investors' syndicates, investment associations and the like, each of which is called an "investment company" in this part, or which corporation, company, partnership, or individual is engaged in servicing contracts now being issued or heretofore issued or collecting installments on the contracts, shall be deemed to be engaged in a business declared to be a privilege; and for the purpose of providing revenue for the state, there shall be levied against and collected from each investment company a special tax measured by gross profits or income, as defined in §
56-4-305
, of the investment company or that portion of the gross profits or income as shall be allocated to the state, as provided in this part.
(b)
Notwithstanding subsection (a), no tax under this part shall be imposed on any person registered as a broker or a dealer under §§ 3(a)(4) or (5) of the Securities Exchange Act of 1934 (
15 U.S.C. § 78c(a)(4) or (a)(5)
), regardless of any related or incidental activities carried on by the person in connection with its business as a broker or a dealer.
Acts 1939, ch. 187, § 1; 1943, ch. 127, § 1; C. Supp. 1950, § 1248.33 (Williams, § 1248.160); Acts 1977, ch. 347, § 2; T.C.A. (orig. ed.), §§ 67-4401, 67-4-1201; Acts 2000, ch. 870, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 3 - INVESTMENT COMPANIES (§§ 56-4-301 — 56-4-309) › Section 56-4-302 - Nature of tax - Exemption from other taxes

(a)
The business declared in this part to be a privilege is for state purposes only and taxable as a privilege by the state alone, and no county or municipality may impose any tax upon the privilege, or upon the privilege of conducting business or acting as agent or representative of any investment company, as defined in §§
56-4-301
and
56-4-303
.
(b)
(1)
The tax provided in this part shall be in lieu of and substituted for any and all other taxes heretofore imposed by any law, general or special, against or on the investment companies, as defined in §§
56-4-301
and
56-4-303
, except ad valorem taxes upon real estate and tangible personal property owned by the investment companies and located in the state.
(2)
The exemption from other taxes shall include all other privilege taxes, such as taxes upon or for the use of the franchise, capital, notes, reserves, surpluses, loans, accounts and other income and profits of the investment companies. The members, shareholders, account holders, certificate holders, or contract holders are exempt from any and all privilege taxes and income taxes imposed by any law now on the statute books, upon profits, dividends, interest or income in the nature of profits, dividends, or interest received from the investment company.
(c)
Nothing in this section shall be construed to provide an exemption from the sales and use tax imposed by title 67, chapter 6.
Acts 1939, ch. 187, §§ 5, 6; C. Supp. 1950, §§ 1248.37, 1248.38 (Williams, §§ 1248.164, 1248.165); modified; T.C.A. (orig. ed.), §§ 67-4406, 67-4410, 67-4-1202; Acts 2005, ch. 499, § 23.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 3 - INVESTMENT COMPANIES (§§ 56-4-301 — 56-4-309) › Section 56-4-303 - Business within state

(a)
Each investment company issuing its certificates, investment contracts, income reserve contracts, or instruments of like nature, pursuant to applications or orders for certificates, investment contracts, income reserve contracts, or instruments of like nature, solicited within the state, shall be deemed to be engaged in business within the state, and shall be subject to the terms and provisions of this part.
(b)
Each investment company issuing certificates, investment contracts, income reserve contracts, or instruments of like nature that are delivered in the state shall be deemed to be engaged in business within the state, and shall be subject to the terms and provisions of this part.
(c)
Each investment company engaged in the business of writing, issuing and/or servicing or collecting installments upon the investment contracts, being issued in this state or heretofore issued, shall be subject to the terms and provisions of this part.
Acts 1939, ch. 187, §§ 1, 2; 1943, ch. 127, § 2; C. Supp. 1950, §§ 1248.33, 1248.34 (Williams, §§ 1248.160, 1248.161); T.C.A. (orig. ed.), §§ 67-4402, 67-4-1203.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 3 - INVESTMENT COMPANIES (§§ 56-4-301 — 56-4-309) › Section 56-4-304 - Rate of tax

(a)
Each investment company, as defined in §§
56-4-301
and
56-4-303
, shall pay annually to the commissioner of revenue the tax provided under this part, which tax shall be measured as to each investment company engaged in business wholly within this state, by the entire gross profits or income of the investment company during the year for which the tax is payable; and as to each investment company engaged in business or operating partly within and partly without the state, the tax shall be measured by the portion of the gross profits or income of the investment company allocated to the state, as provided in §
56-4-306
.
(b)
The tax as to each investment company engaged in business or operating wholly within the state shall be an amount equivalent to two percent (2%) of the aggregate or total of the gross profits or income of the investment company, and as to each investment company engaged in business or operating partly within and partly without the state, the tax shall be an amount equivalent to two percent (2%) of the portion of the aggregate or total of the gross profits or income of the investment company allocated to this state, as provided in §
56-4-306
.
Acts 1939, ch. 187, § 3; 1943, ch. 127, § 3; C. Supp. 1950, § 1248.35 (Williams, § 1248.162); modified; T.C.A. (orig. ed.), §§ 67-4403, 67-4-1204.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 3 - INVESTMENT COMPANIES (§§ 56-4-301 — 56-4-309) › Section 56-4-305 - "Gross profits or income" defined

(a)
"Gross profits or income," as used in this part, means gross income from all sources, except as provided in subsection (b), including income on tax exempt securities, loans, dividends and interest on stocks, bonds or other investments, plus net rentals on real estate, less the net amount of tax paid by the investment company on its tangible assets wherever located; provided, that there shall not be included in gross profits or income any principal of loans, any premiums, service fees, or receipts from members, certificate holders or contract holders, other than interest on contract loans; and provided, further, that there shall not be included in gross profits or income interest earned but uncollected that is not more than ninety (90) days past due, and interest that is more than ninety (90) days past due shall likewise not be included in gross profits or income, unless the interest more than ninety (90) days past due has been capitalized.
(b)
Nothing in this part shall be construed so as to include among the gross profits or income, exempt-interest dividends from a regulated investment company qualified under the Internal Revenue Code, subchapter M, chapter 1, subtitle A (
26 U.S.C. §§ 851-858
); provided, that not less than seventy-five percent (75%) of the value of the investments of the regulated investment company shall be in bonds of the state, or any county or municipality or political subdivision thereof, including any agency, board, authority or commission of any of the above.
Acts 1939, ch. 187, §§ 1, 3; 1943, ch. 127, § 1; C. Supp. 1950, §§ 1248.33, 1248.35 (Williams, §§ 1248.160, 1248.162); Acts 1977, ch. 347, § 2; T.C.A. (orig. ed.), §§ 67-4401, 67-4404, 67-4-1205.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 3 - INVESTMENT COMPANIES (§§ 56-4-301 — 56-4-309) › Section 56-4-306 - Allocation - Companies doing business outside state

The portion of the gross profits or income of the investment company to be allocated to the state where the investment company is engaged in business or operating partly within and partly without the state shall be the proportion of the gross profits or income of the investment company determined by dividing the gross amount received, during the year for which the tax is payable, from members, certificate holders or contract holders of the investment company who reside within the state, by the gross amount received during the year from all the members, certificate holders or contract holders, as the case may be, of the investment company, whether the members, certificate holders or contract holders reside within or without this state.
Acts 1939, ch. 187, § 3; C. Supp. 1950, § 1248.35 (Williams, § 1248.162); T.C.A. (orig. ed.), §§ 67-4405, 67-4-1206.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 3 - INVESTMENT COMPANIES (§§ 56-4-301 — 56-4-309) › Section 56-4-307 - Annual report - Fiscal year - Annual return

(a)
An annual report shall be filed with the commissioner on or before the first day of the fourth month following the close of the investment company's fiscal year.
(b)
The close of the investment company's fiscal year for purposes of this part shall coincide with the close of the investment company's fiscal year for federal income tax purposes.
(c)
The annual return shall be sworn and shall be made on forms prepared and furnished by the commissioner showing the total or aggregate gross income or profits as defined in §
56-4-305
, and showing appropriate figures necessary to determine what portion of gross profits or income shall be allocated to the state.
Acts 1939, ch. 187, § 4; C. Supp. 1950, § 1248.36 (Williams, § 1248.163); T.C.A. (orig. ed.), §§ 67-4407, 67-4-1207; Acts 1986, ch. 598, § 12.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 3 - INVESTMENT COMPANIES (§§ 56-4-301 — 56-4-309) › Section 56-4-308 - Powers of commissioner - Failure to file return or filing false return

(a)
The commissioner is vested with the following powers:
(1)
To examine at the expense of the investment company, subject to this part, the books and records, for the purpose of determining the amount of taxes due, in the event of the failure of the investment company to make its return or for the purpose of verifying or correcting any return made; and
(2)
To issue distress warrants for the collection of any tax due and unpaid, or to institute suit in the courts of law or chancery, for the use and benefit of the state.
(b)
Upon the failure or refusal of any investment company subject to this part to file a return or upon the filing of a false return, the investment company shall thereafter be estopped to dispute the accuracy of the assessment made by the commissioner.
Acts 1939, ch. 187, § 7; C. Supp. 1950, § 1248.39 (Williams, § 1248.166); T.C.A. (orig. ed.), §§ 67-4408, 67-4-1208; Acts 1988, ch. 526, § 11.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 3 - INVESTMENT COMPANIES (§§ 56-4-301 — 56-4-309) › Section 56-4-309 - Disposition of revenue

The net amount of all taxes collected under this part shall be payable by the commissioner to the state treasurer, and shall become part of the general funds of the state.
Acts 1939, ch. 187, § 8; C. Supp. 1950, § 1248.40 (Williams, § 1248.167); T.C.A. (orig. ed.), §§ 67-4409, 67-4-1209.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 4 - PRODUCTION CREDIT ASSOCIATIONS (§§ 56-4-401 — 56-4-406) › Section 56-4-401 - "Production credit association" defined - Associations subject to tax

As used in this part, unless the context otherwise requires, "production credit association" means a corporation organized and chartered pursuant to § 20 of the Farm Credit Act of 1933, Act June 16, 1933, ch. 98, § 20, 48 Stat. 259, engaged in business in this state, and not exempt by virtue of the laws of the United States from taxation by this state.
Acts 1951, ch. 45, § 1 (Williams, § 1248.179); modified; T.C.A. (orig. ed.), §§ 67-4501, 67-4-1301.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 4 - PRODUCTION CREDIT ASSOCIATIONS (§§ 56-4-401 — 56-4-406) › Section 56-4-402 - Nature of tax - Exemption from other taxes

(a)
The business declared to be taxable in this part is for state purposes only and taxable by the state alone and no county or municipality may impose any taxes upon the business, except ad valorem taxes upon real estate and tangible personal property owned by the production credit association.
(b)
The tax shall be in lieu of, and in substitution for, any and all other taxes levied against or on the association, except ad valorem taxes upon real estate and tangible personal property owned by the association.
(c)
Nothing in this section shall be construed to provide an exemption from the sales and use tax imposed by title 67, chapter 6.
Acts 1951, ch. 45, §§ 4, 5 (Williams, §§ 1248.182, 1248.183); T.C.A. (orig. ed.), §§ 67-4503, 67-4507, 67-4-1302; Acts 2005, ch. 499, § 24.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 4 - PRODUCTION CREDIT ASSOCIATIONS (§§ 56-4-401 — 56-4-406) › Section 56-4-403 - Tax imposed - Computation

(a)
Each production credit association shall pay annually to the commissioner of revenue the specified privilege tax provided under this part, which tax is to be measured by the income of the association, and shall be computed at the rate of three and three fourths percent (3.75%) of the net receipts of the association.
(b)
(1)
Net receipts shall be computed on an accrual basis and are defined to be the gross receipts from the following sources:
(A)
Interest on loans;
(B)
Loan service fees;
(C)
Interest on securities unless by law otherwise tax exempt;
(D)
Compensation or fees or services performed;
(E)
Capital gains from the sale of real and personal property; and
(F)
Other receipts; LESS
(2)
(A)
Patronage refunds; and
(B)
All expenses of the association, which expenses shall include, in addition to the usual and normal expenses of operation:
(i)
(a)
Bad debts charged off; or
(b)
Annual additions for valuation reserves against loan assets in an amount equal to one half of one percent (0.5%) of the loans outstanding at the end of the fiscal year, to the extent that earnings in the year in excess of other operating expenses permit, until the reserves are equal to, but are not in excess of, three and one half percent (3.5%) of loans outstanding at the end of the fiscal year, whichever sum is greater;
(ii)
Interest paid or accrued;
(iii)
Legal recording and abstract fees;
(iv)
Depreciation on capital assets;
(v)
Federal, county and city taxes paid or accrued;
(vi)
Operating expenses on acquired property;
(vii)
Capital losses; and
(viii)
Other ordinary and necessary items of expense.
Acts 1951, ch. 45, § 2 (Williams, § 1248.180); Acts 1971, ch. 67, § 1; impl. am. Acts 1971, ch. 137, § 2; Acts 1975, ch. 343, § 1; T.C.A (orig. ed.), §§ 67-4502, 67-4-1303.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 4 - PRODUCTION CREDIT ASSOCIATIONS (§§ 56-4-401 — 56-4-406) › Section 56-4-404 - Levy and payment dates

(a)
The annual tax to be levied and collected under this part shall be levied as of December 31 in each and every year, and shall be due and payable by not later than March 1 in each and every year.
(b)
On or before March 1 in each and every year, each association shall make a sworn return to the commissioner, showing the taxable income of the association, as defined in §
56-4-402
.
Acts 1951, ch. 45, § 3 (Williams, § 1248.181); T.C.A. (orig. ed.), §§ 67-4501, 67-4-1304.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 4 - PRODUCTION CREDIT ASSOCIATIONS (§§ 56-4-401 — 56-4-406) › Section 56-4-405 - Powers of commissioner - Failure or refusal to file a return, filing a false and fraudulent return

(a)
The commissioner is vested with the following powers:
(1)
To examine the books and records of the production credit association for the purpose of determining the amount of taxes due, in the event of the failure of the association to make its return or for the purpose of verifying or correcting any return made; and
(2)
To issue distress warrants for the collection of any taxes due and unpaid or to institute suit in the courts of law or chancery, for the use and benefit of the state; and
(b)
Upon the failure or refusal of any association to file a return, or upon the filing of a false and fraudulent return, the association shall thereafter be estopped to dispute the accuracy of the assessment made by the commissioner.
Acts 1951, ch. 45, § 6 (Williams, § 1248.184); T.C.A. (orig. ed.), §§ 67-4505, 67-4-1305; Acts 1988, ch. 526, § 12.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 4 - FEES AND TAXES (§§ 56-4-101 — 56-4-406) › Part 4 - PRODUCTION CREDIT ASSOCIATIONS (§§ 56-4-401 — 56-4-406) › Section 56-4-406 - Disposition of revenue

The net amount of all taxes collected under this part shall be payable by the commissioner to the state treasurer, and shall become part of the general funds of the state.
Acts 1951, ch. 45, § 7 (Williams, § 1248.185); T.C.A. (orig. ed.), §§ 67-4506, 67-4-1306.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 5 - RATES AND RATING ORGANIZATIONS (§§ 56-5-101 — 56-5-302) › Part 1 - GENERAL PROVISIONS (§§ 56-5-101 — 56-5-123) › Section 56-5-101 - Application of part

This part applies to all kinds of insurance written on risks in this state by any insurer authorized to do business in this state, except:
(1)
Life insurance;
(2)
Annuities;
(3)
Disability insurance;
(4)
Ocean marine insurance;
(5)
Reinsurance;
(6)
Aircraft liability and aircraft hull insurance;
(7)
Title insurance;
(8)
Credit life insurance; and
(9)
Credit accident and health insurance.
Acts 1983, ch. 66, § 2; 2006, ch. 689, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 5 - RATES AND RATING ORGANIZATIONS (§§ 56-5-101 — 56-5-302) › Part 1 - GENERAL PROVISIONS (§§ 56-5-101 — 56-5-123) › Section 56-5-103 - Standards

(a)
General.
Rates:
(1)
Shall not be excessive, inadequate or unfairly discriminatory; or
(2)
In the case of an advisory prospective loss costs filing, shall reasonably reflect projected losses and loss adjustment expenses.
(b)
Excessiveness.
A rate is excessive if it is likely to produce a profit that is unreasonably high for the insurance provided or if the expense provision included in the rate is unreasonably high in relation to the services rendered.
(c)
Inadequacy.
A rate is not inadequate unless the rate is clearly insufficient to sustain projected losses and expenses in the class of business to which it applies and the use of the rate has or, if continued, will have the effect of substantially lessening competition or the tendency to create a monopoly.
(d)
Unfair Discrimination.
Unfair discrimination exists if, after allowing for practical limitations, price differentials fail to reflect equitably the differences in expected losses and expenses. A rate is not unfairly discriminatory because different premiums result for policyholders with like loss exposures with different expenses, or like expenses but different loss exposures, so long as the rate reflects the differences with reasonable accuracy.
Acts 1983, ch. 66, § 4; 1996, ch. 944, § 35.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 5 - RATES AND RATING ORGANIZATIONS (§§ 56-5-101 — 56-5-302) › Part 1 - GENERAL PROVISIONS (§§ 56-5-101 — 56-5-123) › Section 56-5-104 - Criteria for compliance

In determining whether rates comply with the standards set forth in §
56-5-103
, the following criteria shall apply:
(1)
Basic Factors in Rates.
Due consideration shall be given to:
(A)
Past and prospective loss and expense experience within and outside this state;
(B)
Catastrophe hazards;
(C)
Any residual market loss redistributions and other similar obligations;
(D)
A reasonable provision for profit and contingencies;
(E)
Trends within and outside this state;
(F)
Loadings for leveling premium rates over a reasonable period of time or for dividends or savings to be allowed or returned by insurers to their policyholders, members or subscribers; and
(G)
All other relevant factors, including the judgment of the filer;
(2)
Classification.
Risks may be classified in any reasonable way for the establishment of rates except that no risks may be grouped by classifications based in whole or in part on race, color, creed, or national origin of the risk. Rates may be modified for individual risks in accordance with rating plans or schedules that provide for recognition of probable variations in hazards, expenses or both; and
(3)
Expenses.
The systems of expense provisions included in rates for use by an insurer or group of insurers may differ from those of other insurers or group of insurers to reflect the operating methods of the insurer, or group with respect to any kind of insurance, or with respect to any subdivision or combination of kinds of insurance.
Acts 1983, ch. 66, § 5.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 5 - RATES AND RATING ORGANIZATIONS (§§ 56-5-101 — 56-5-302) › Part 1 - GENERAL PROVISIONS (§§ 56-5-101 — 56-5-123) › Section 56-5-105 - Filing by personal risk insurers

(a)
Every insurer of personal risk insurance shall file with the commissioner all rates, supplementary rate information, supporting information, policy forms, and endorsements at least thirty (30) days before the proposed effective date.
(b)
The commissioner may give written notice, within thirty (30) days of the receipt of the filing, that the commissioner needs additional time, not to exceed thirty (30) days from the date of the notice, to consider the filing.
(c)
Upon written application by the insurer, the commissioner may authorize rates to be effective before the expiration of the waiting period or an extension of the waiting period.
(d)
(1)
A filing shall be deemed to meet the requirements of this part and to become effective unless disapproved by the commissioner before the expiration of the waiting period or an extension of the waiting period.
(2)
Whenever a filing made pursuant to this section is not accompanied by sufficient supporting information, the commissioner shall inform the insurer as to what information is required to complete the filing.
(3)
The filing shall not be deemed to be made until the information is furnished.
Acts 1983, ch. 66, § 6.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 5 - RATES AND RATING ORGANIZATIONS (§§ 56-5-101 — 56-5-302) › Part 1 - GENERAL PROVISIONS (§§ 56-5-101 — 56-5-123) › Section 56-5-108 - Basis and procedure for disapproval - Interim rates

(a)
Basis for Disapproval.
The commissioner shall disapprove a rate if:
(1)
The commissioner finds that the rate is excessive, inadequate or unfairly discriminatory; or
(2)
In the case of an advisory prospective loss costs filing, the commissioner finds the filing does not reasonably reflect projected losses, including loss adjustment expenses. For an advisory prospective loss costs filing the commissioner may also modify the filing as permitted by §
50-6-402(b)
.
(b)
Disapproval Procedure.
(1)
If the commissioner disapproves or modifies a filing, the commissioner shall issue a written order specifying in what respect that the rate proposed in the filing is excessive, inadequate or unfairly discriminatory or otherwise fails to meet the requirements of this part. The person making the filing shall be given a hearing upon written request made within thirty (30) days after the disapproval or modification order.
(2)
If the commissioner disapproves rates already in effect, the commissioner shall issue the order only after a hearing held on not less than twenty (20) days' written notice to the insurer or rate service organization that made the filing. The order shall be issued within fifteen (15) days after the close of the hearing and shall specify in what respects the rates fail to meet the requirements of this part. The order shall also state when, within a reasonable period of time, but not less than forty-five (45) days, the further use of the rate in contracts of insurance made thereafter shall be prohibited. The order may include a provision for premium adjustment for policies issued, renewed or nonrenewed after the effective date of the order. In disputes concerning a multiplier, the insurer shall have the burden of persuasion that the commissioner's disapproval, modification, or failure to approve was inappropriate.
(c)
Interim Rates.
Whenever an insurer has no legally effective rates as a result of the commissioner's disapproval of rates or other act, the commissioner shall on request of the insurer specify interim rates for the insurer that are high enough to protect the interests of all parties, and may order that a specified portion of the premiums be placed in an escrow account approved by the commissioner. When new rates become legally effective, the commissioner shall order the escrowed funds or any overcharge in the interim rates to be distributed appropriately, except that refunds to policyholders that are
de minimis
shall not be required.
Acts 1983, ch. 66, § 9; 1996, ch. 944, § 38; 1997 , ch. 533, § 11; 1998, ch. 1024, § 16.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 5 - RATES AND RATING ORGANIZATIONS (§§ 56-5-101 — 56-5-302) › Part 1 - GENERAL PROVISIONS (§§ 56-5-101 — 56-5-123) › Section 56-5-109 - Information for insureds - Review for aggrieved persons - Civil penalty - Rule-making authority

(a)
Information to Be Furnished Insureds.
Every insurer or rate service organization shall, within a reasonable time after receipt of a written request and upon payment of a reasonable charge, furnish to any insured affected by a rate published by it, all pertinent information as to the rate.
(b)
Aggrieved Persons.
Every insurer and rate service organization shall provide within this state reasonable means whereby any person aggrieved by the application of its rating system may be heard on written request to review the manner in which the rating system has been applied in connection with the insurance afforded. If the insurer fails to grant or reject the request within thirty (30) days, the applicant may proceed in the same manner as if the application had been rejected. Any party affected by the action of the insurer on the request may, within thirty (30) days after written notice of the action, appeal to the commissioner who, after a hearing held upon not less than ten (10) days' written notice to the appellant and to the insurer, may affirm, modify, or reverse the action.
(c)
After notice and hearing in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, the commissioner may impose a civil penalty of up to ten thousand dollars ($10,000) per occurrence, upon a finding that a workers' compensation insurer, without any lawful basis, has assessed an employer premium:
(1)
For individuals who are not employees; or
(2)
On the basis of improper classification of employees.
(d)
The commissioner shall have the authority to promulgate rules, including emergency rules, to effectuate this section. The rules may provide the commissioner with the authority to assess the charges of the administrative procedures division of the office of the secretary of state for any administrative hearing conducted under this section.
Acts 1983, ch. 66, § 10; 2006, ch. 536, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 5 - RATES AND RATING ORGANIZATIONS (§§ 56-5-101 — 56-5-302) › Part 1 - GENERAL PROVISIONS (§§ 56-5-101 — 56-5-123) › Section 56-5-110 - Licensing of rate service organizations - Activities and services

(a)
License Required.
No rate service organization shall provide any service relating to the rates of any insurance subject to this part, and no insurer shall utilize the services of the organization for those purposes unless the organization has obtained a license under subsection (d).
(b)
Authorized Activities.
Any licensed rate service organization may:
(1)
Collect, compile, and furnish loss or expense statistics;
(2)
Recommend, make or file rates or supplementary rate information;
(3)
Advise about rate questions and provide supporting information for rates;
(4)
Develop, recommend or file policy provisions or forms, coverages, classifications, and statistical plans;
(5)
Make inspections, surveys and audits;
(6)
Conduct research and on-the-site inspections in order to prepare classifications of public fire defenses;
(7)
Provide actuarial, statistical and administrative services to insurers and insurer-supported organizations;
(8)
Conduct and report on the content of research projects; and
(9)
Furnish any other services related to those enumerated in this subsection (b).
(c)
Availability of Services.
No rate service organization shall refuse to supply any services for which it is licensed in this state to any insurer authorized to do business in this state and offering to pay the fair and usual compensation for the services, nor shall a rate service organization require the purchase of any specific services as a condition to obtaining the services sought; provided, that the furnishing of the requested services does not place an unreasonable burden on the rate service organization.
(d)
Licensing.
(1)
Application.
A rate service organization applying for a license shall include with its application:
(A)
A copy of its constitution, articles of association or incorporation, bylaws, and any other rules or regulations governing the conduct of its business;
(B)
A list of its members and subscribers;
(C)
A service and acknowledgment of service of process as provided for insurance companies under §
56-2-501
; and
(D)
A statement showing its technical qualifications.
(2)
Granting of a License.
If the commissioner finds that the applicant is qualified, the commissioner shall issue a license specifying the kinds of insurance or subdivisions of kinds of insurance for which the applicant is authorized to act as a rate service organization. Every application shall be granted or denied in whole or in part by the commissioner within sixty (60) days after the date of its filing. Licenses issued pursuant to this section shall remain in effect until suspended or revoked by the commissioner. The fee for the license shall be one hundred dollars ($100).
Acts 1983, ch. 66, § 11.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 5 - RATES AND RATING ORGANIZATIONS (§§ 56-5-101 — 56-5-302) › Part 1 - GENERAL PROVISIONS (§§ 56-5-101 — 56-5-123) › Section 56-5-111 - Registration of advisory organizations - Activities and services

(a)
Registration Required.
No advisory organization shall provide any service relating to the rates of any insurer subject to this part, and no insurer shall utilize the services of the organization for those purposes unless the organization has registered under subsection (d).
(b)
Authorized Activities.
A registered advisory organization may perform any of the authorized activities enumerated in §
56-5-110(b)
except no advisory organization may make any filings on behalf of insurers.
(c)
Availability of Services.
No advisory organization shall refuse to supply any authorized services for which it is registered in this state to any insurer authorized to do business in this state and offering to pay the fair and usual compensation for the services, nor shall an advisory organization require the purchase of any specific services as a condition to obtaining the services sought; provided, that the furnishing of the requested services does not place an unreasonable burden on the advisory organization.
(d)
Form of Registration.
(1)
Registration.
An advisory organization shall submit, at the time of registration:
(A)
A copy of its constitution, articles of association or incorporation, bylaws, and any other rules or regulations governing the conduct of its business;
(B)
A list of its members and subscribers;
(C)
A service and acknowledgment of service of process as provided for insurance companies under §
56-2-501
;
(D)
An agreement that the commissioner may examine each advisory organization in accordance with §
56-5-115
; and
(E)
A fee for registration in the amount of one hundred dollars ($100).
(2)
Prohibited Activities.
If after a hearing the commissioner finds that any activity or practice of any advisory organization is unfair, unreasonable or otherwise inconsistent with this part, the commissioner shall specify the finding in an order requiring the discontinuance of the activity or practice.
Acts 1983, ch. 66, § 12.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 5 - RATES AND RATING ORGANIZATIONS (§§ 56-5-101 — 56-5-302) › Part 1 - GENERAL PROVISIONS (§§ 56-5-101 — 56-5-123) › Section 56-5-112 - Plans for reporting loss and expense experience

(a)
Insurers shall file with the commissioner, and the commissioner shall review, reasonable rules and plans for recording and reporting of loss and expense experience in appropriate form and detail. The commissioner may designate one (1) or more rate service organizations or advisory organizations to assist in gathering the experience and making compilations. No insurer shall be required to record or report its experience on a classification basis inconsistent with its own rating system; provided, that for workers' compensation insurance, all insurers shall use the classification system and statistical plan of the rate service organization designated by the commissioner.
(b)
The commissioner and every insurer, rate service organization and advisory organization may exchange information and experience data with insurance regulatory officials, insurers, rate service organizations and advisory organizations in this and other states and may consult with them with respect to ratemaking and the application of rating systems.
Acts 1983, ch. 66, § 13.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 5 - RATES AND RATING ORGANIZATIONS (§§ 56-5-101 — 56-5-302) › Part 1 - GENERAL PROVISIONS (§§ 56-5-101 — 56-5-123) › Section 56-5-113 - Agreements between insurers or with other organizations - Application for deductible plan - Rating plans submitted by captive insurance companies providing workers' compensation coverage

(a)
Except as provided in this chapter, no insurer may agree with any other insurer or with a rate service organization or an advisory organization to adhere to or use any rate or supplementary rate information. The fact that any insurer adheres to or uses the material is not sufficient in itself to support a finding that an agreement to adhere or use exists but may be used for the purpose of supplementing other evidence as to the existence of the agreement. Two (2) or more insurers having common ownership or operating in this state under common management or control may act in concert between or among themselves in the same manner as if they constitute a single insurer.
(b)
Any workers' compensation insurer may make written application to the commissioner for approval on its behalf of a deductible plan where the insurer can be reimbursed by the policyholder, effective for a period of not less than one (1) year, to be applied to the rates or premiums, or both, produced by the rating system. The application shall specify the basis for the modification and a copy of the application shall also be sent simultaneously to the rate service organization. The commissioner shall approve the modification for the insurer if the commissioner finds it to be justified. The commissioner shall not approve the modification if the commissioner finds that the resulting premiums would be excessive, inadequate or unfairly discriminatory.
(c)
Notwithstanding any other provision in this chapter, the commissioner may approve any rating plan submitted by a captive insurance company that is formed under chapter 13 of this title and is authorized to provide workers' compensation coverage, so long as the captive insurance company demonstrates to the commissioner's satisfaction that the proposed rating plan does not endanger the solvency of the company and adequately protects the insureds.
Amended by 2015 Tenn. Acts, ch. 156,s 1, eff. 4/17/2015.
Acts 1983, ch. 66, § 14; 1991, ch. 511, § 1; 1996, ch. 944, § 39; 1997, ch. 533, § 12.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 5 - RATES AND RATING ORGANIZATIONS (§§ 56-5-101 — 56-5-302) › Part 1 - GENERAL PROVISIONS (§§ 56-5-101 — 56-5-123) › Section 56-5-115 - Examination of insurance entities by commissioner

(a)
The commissioner may examine any insurer, advisory organization, rate service organization, pool or residual market mechanism to ascertain compliance with this part.
(b)
Every insurer, advisory organization, rate service organization, pool and residual market mechanism shall maintain records of the type and kind reasonably adapted to its method of operation. The records shall contain the experience, data, statistics and other information collected or used by it in its activities. These records shall be available for examination or inspection by the commissioner at any time upon reasonable notice.
(c)
The cost of an examination made pursuant to this section shall be paid by the examined party in the same manner as provided by §
56-1-413
.
(d)
The commissioner may accept the report of an examination made by the insurance supervisory official of another state in lieu of an examination under this section.
Acts 1983, ch. 66, § 16.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 5 - RATES AND RATING ORGANIZATIONS (§§ 56-5-101 — 56-5-302) › Part 1 - GENERAL PROVISIONS (§§ 56-5-101 — 56-5-123) › Section 56-5-116 - Payment of dividends, savings, and premium deposits unaffected

Nothing in this part shall be construed to prohibit or regulate the payment of dividends, savings, or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members or subscribers. A plan for the payment of dividends, savings, or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members or subscribers shall not be deemed a rating plan.
Acts 1983, ch. 66, § 17.