reglab/statecodes huggingface dataset:
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 23 - STATE STOCK FIRE INSURANCE COMPANIES (§§ 56-23-101 — 56-23-111) › Section 56-23-107 - Reinsurance of fire risks with or for other companies

Any state stock fire insurance company organized under the laws of this state is empowered to contract with any insurance company authorized to do business in this state to reinsure the whole or any part of any risk it has outstanding by reason of the issuance of its policy of insurance.
Acts 1973, ch. 293, § 7; T.C.A., § 56-4207.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 23 - STATE STOCK FIRE INSURANCE COMPANIES (§§ 56-23-101 — 56-23-111) › Section 56-23-108 - Reinsurance of excess fire risks in unauthorized company with approval of commissioner - Premium tax - Payment

(a)
No company doing business under this chapter shall reinsure any of its business in any unauthorized company, except upon the written approval of the commissioner.
(b)
The company shall pay the tax prescribed by chapter 4, part 2 of this title on all business it reinsures in companies not having their domicile in this state.
Acts 1973, ch. 293, § 8; T.C.A., § 56-4208.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 23 - STATE STOCK FIRE INSURANCE COMPANIES (§§ 56-23-101 — 56-23-111) › Section 56-23-109 - Certificate of authority for agents - Fee

Every such company shall be required to obtain from the commissioner a certificate of authority for each of its agents who solicit or write insurance in this state, the fee for which shall be two dollars ($2.00).
Acts 1973, ch. 293, § 9; T.C.A., § 56-4209.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 23 - STATE STOCK FIRE INSURANCE COMPANIES (§§ 56-23-101 — 56-23-111) › Section 56-23-110 - Rules and regulations

The commissioner is authorized to promulgate rules and regulations not in conflict with this chapter for the purpose of implementing this chapter, and the regulations so promulgated shall have the force and effect of law.
Acts 1973, ch. 293, § 10; T.C.A., § 56-4210.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 23 - STATE STOCK FIRE INSURANCE COMPANIES (§§ 56-23-101 — 56-23-111) › Section 56-23-111 - Assets - Investments - Loans - Foreign investments

Sections
56-3-103
,
56-3-104
and
56-3-302
- 56-3-307 are applicable to any company organized and doing business under this chapter.
Acts 1973, ch. 293, § 11; T.C.A., § 56-4211.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 24 - INSOLVENT DOMESTIC CORPORATIONS (§§ 56-24-101 — 56-24-104) › Section 56-24-101 - Insolvent domestic corporations - Action by attorney general - Application for restraining order

When the commissioner of commerce and insurance, on investigation, is satisfied that any corporation organized under the laws of this state and doing business as a life and casualty insurance company is insolvent because of matured death claims or other obligations due and unpaid exceeding its assets and death assessments or periodical payments called or in process of collection, or has exceeded its powers, has failed to comply with any provision of law, or is not carrying out its contracts with members in good faith, the commissioner shall report the facts to the attorney general and reporter, who, if of the opinion that the facts require the action, may apply to any court having jurisdiction for an order requiring the officers of the corporation to show cause within a reasonable time why the corporation should not be restrained from continuing to transact business.
Acts 1897, ch. 127, § 13; Shan., § 3350a11; Code 1932, § 6228; T.C.A. (orig. ed.), § 56-2321.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 24 - INSOLVENT DOMESTIC CORPORATIONS (§§ 56-24-101 — 56-24-104) › Section 56-24-102 - Receivers - Power of court to appoint - Removal of officers

The court may, in its discretion, appoint receivers to take charge of the effects and wind up the business of the corporation, subject to rules and orders as the court may from time to time prescribe, according to the course of proceedings in equity, or the court may, if it deems that the best interests of the corporation will be served thereby, decree a removal from office of the officers or any number thereof, and substitute suitable persons to serve until the regular annual election, or until a successor is regularly chosen.
Acts 1897, ch. 127, § 13; Shan., § 3350a12; Code 1932, § 6229; T.C.A. (orig. ed.), § 56-2322.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 24 - INSOLVENT DOMESTIC CORPORATIONS (§§ 56-24-101 — 56-24-104) › Section 56-24-103 - Certificate of authority for agent - Expiration - Renewal - Failure to apply for - Transacting business without - Penalty

Every corporation transacting business under this chapter shall obtain from the commissioner a certificate of authority for each agent writing or soliciting insurance for it in this state, which certificate shall show that the corporation has complied with this chapter, and the certificate, unless sooner revoked, shall expire with the end of each calendar year, and be renewed within thirty (30) days thereafter. Any corporation that neglects or fails to make application for certificates of authority for its agents or any one (1) of its agents, and any agent who transacts any business for the corporation without first receiving the certificate herein required, shall be liable to a fine of one hundred dollars ($100).
Acts 1897, ch. 127, § 12; Shan., § 3350a9; Code 1932, § 6226; T.C.A. (orig. ed.), § 56-2323.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 24 - INSOLVENT DOMESTIC CORPORATIONS (§§ 56-24-101 — 56-24-104) › Section 56-24-104 - Fees to be paid state

The commissioner shall collect and pay into the state treasury the fees prescribed by §
56-4-101
for issuing each new certificate of authority, for filing the company's annual statement and for amendments to the company's certificate of authority.
Acts 1897, ch. 127, § 15; Shan., § 3350a15; Code 1932, § 6232; Acts 1979, ch. 298, § 5; T.C.A. (orig. ed.), § 56-2324.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 1 - GENERAL PROVISIONS (§§ 56-25-101 — 56-25-105) › Section 56-25-101 - Organizations that constitute "fraternal benefit societies."

Any incorporated society, order or supreme lodge, without capital stock, including one exempted under §
56-25-704(a)(2)
, whether incorporated or not, conducted solely for the benefit of its members and their beneficiaries and not for profit, operated on a lodge system with ritualistic form of work, having a representative form of government, and that provides benefits in accordance with this chapter, is declared to be a "fraternal benefit society."
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 1 - GENERAL PROVISIONS (§§ 56-25-101 — 56-25-105) › Section 56-25-102 - Operating on lodge system - Children's lodges

(a)
A society is operating on the lodge system if it has a supreme governing body and subordinate lodges into which members are elected, initiated or admitted in accordance with its laws, rules and ritual. Subordinate lodges shall be required by the laws of the society to hold regular meetings at least once every sixty (60) days in furtherance of the purposes of the society.
(b)
A society may, at its option, organize and operate lodges for children under the minimum age for adult membership. Membership and initiation in local lodges shall not be required of the children, nor shall they have a voice or vote in the management of the society.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 1 - GENERAL PROVISIONS (§§ 56-25-101 — 56-25-105) › Section 56-25-103 - Representative form of government

A society has a representative form of government when:
(1)
It has a supreme governing body constituted in one (1) of the following ways:
(A)
Assembly.
The supreme governing body is an assembly composed of delegates elected directly by the members or at intermediate assemblies or conventions of members or their representatives, together with other delegates as may be prescribed in the society's laws. A society may provide for election of delegates by mail. The elected delegates shall constitute a majority in number and shall not have less than two thirds (2/3) of the votes and not less than the number of votes required to amend the society's laws. The assembly shall be elected and shall meet at least every four (4) years and shall elect a board of directors to conduct the business of the society between meetings of the assembly. Vacancies on the board of directors between elections may be filled in the manner prescribed by the society's laws; or
(B)
Direct Election.
The supreme governing body is a board composed of persons elected by the members, either directly or by their representatives in intermediate assemblies, and any other persons prescribed in the society's laws. A society may provide for election of the board by mail. Each term of a board member may not exceed four (4) years. Vacancies on the board between elections may be filled in the manner prescribed by the society's laws. Those persons elected to the board shall constitute a majority in number and be not less than the number of votes required to amend the society's laws. A person filling the unexpired term of an elected board member shall be considered to be an elected member. The board shall meet at least quarterly to conduct the business of the society;
(2)
The officers of the society are elected either by the supreme governing body or by the board of directors;
(3)
Only benefit members are eligible for election to the supreme governing body, the board of directors or any intermediate assembly; and
(4)
Each voting member has one (1) vote; no vote may be cast by proxy.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 1 - GENERAL PROVISIONS (§§ 56-25-101 — 56-25-105) › Section 56-25-104 - Chapter definitions

As used in this chapter, unless the context otherwise requires:
(1)
"Benefit contract" means the agreement for provision of benefits authorized by §
56-25-401
, as that agreement is described in §
56-25-404
;
(2)
"Benefit member" means an adult member who is designated by the laws or rules of the society to be a benefit member under a benefit contract;
(3)
"Certificate" means the document issued as written evidence of the benefit contract;
(4)
"Commissioner" means the commissioner of commerce and insurance;
(5)
"Laws" means the society's articles of incorporation, charter, constitution and bylaws, however designated;
(6)
"Lodge" means subordinate member units of the society, known as camps, courts, councils, branches or by any other designation;
(7)
"Premiums" means premiums, rates, dues or other required contributions by whatever name known, which are payable under the certificate;
(8)
"Rules" means all rules, regulations or resolutions adopted by the supreme governing body or board of directors that are intended to have general application to the members of the society; and
(9)
"Society" means fraternal benefit society, unless otherwise indicated.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 1 - GENERAL PROVISIONS (§§ 56-25-101 — 56-25-105) › Section 56-25-105 - Operation for benefit of members - Powers

(a)
A society shall operate for the benefit of members and their beneficiaries by:
(1)
Providing benefits as specified in §
56-25-1401
; and
(2)
Operating for one (1) or more social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic or religious purposes for the benefit of its members, which may also be extended to others. The purposes may be carried out directly by the society, or indirectly through subsidiary corporations or affiliated organizations.
(b)
Every society has the power to adopt laws and rules for the government of the society, the admission of its members, and the management of its affairs. It has the power to change, alter, add to or amend the laws and rules and has such other powers as are necessary and incidental to carrying into effect the objects and purposes of the society.
(c)
The commissioner may require any society to furnish facts and figures disclosing expenditures made by the society under subdivision (a)(2).
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 2 - MEMBERSHIP - PROCEEDINGS - OFFICERS AND EMPLOYEES (§§ 56-25-201 — 56-25-204) › Section 56-25-201 - Membership

(a)
A society shall specify in its laws or rules:
(1)
Eligibility standards for each and every class of membership; provided, that if benefits are on the lives of children, the minimum age for adult membership shall be set at not less than fifteen (15) years of age and not greater than twenty-one (21) years of age;
(2)
The process for admission to membership for each membership class; and
(3)
The rights and privileges of each membership class; provided, that only benefit members shall have the right to vote on the management of the insurance affairs of the society.
(b)
A society may also admit social members, who shall have no voice or vote in the management of the insurance affairs of the society.
(c)
Membership rights in the society are personal to the member and are not assignable.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 2 - MEMBERSHIP - PROCEEDINGS - OFFICERS AND EMPLOYEES (§§ 56-25-201 — 56-25-204) › Section 56-25-202 - Meetings - Publications - Annual statement - Grievance procedures

(a)
The meetings of its supreme governing body may be held in any state, district, province or territory wherein the society has at least one (1) subordinate lodge, or in such other location as determined by the supreme governing body, and all business transacted at the meetings shall be valid in all respects as if the meetings were held in this state. The minutes of the proceedings of the supreme governing body and of the board of directors shall be in the English language.
(b)
(1)
A society may provide in its laws for an official publication in which any notice, report or statement required by law to be given to members, including notice of election, may be published. The required notice, report or statement shall be printed conspicuously in the publication. If the records of a society show that two (2) or more members have the same mailing address, an official publication mailed to one (1) member is deemed to be mailed to all members at the same address unless a member requests a separate copy.
(2)
Not later than June 1 of each year, a synopsis of the society's annual statement providing an explanation of the facts concerning the condition of the society thereby disclosed shall be printed and mailed to each benefit member of the society or, in lieu thereof, the synopsis may be published in the society's official publication.
(c)
A society may provide in its laws or rules for grievance or complaint procedures for members.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 2 - MEMBERSHIP - PROCEEDINGS - OFFICERS AND EMPLOYEES (§§ 56-25-201 — 56-25-204) › Section 56-25-204 - Waiver of laws

The laws of the society may provide that no subordinate body, nor any of its subordinate officers or members, shall have the power or authority to waive any of the laws of the society. The provision shall be binding on the society and every member and beneficiary of a member.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 3 - ORGANIZATION (§§ 56-25-301 — 56-25-306) › Section 56-25-302 - Amendment of laws

(a)
A domestic society may amend its laws in accordance with the provisions thereof by action of its supreme governing body at any regular or special meeting thereof or, if its laws so provide, by referendum. The referendum may be held in accordance with its laws by the vote of the voting members of the society, by the vote of delegates or representative of voting members, or by the vote of local lodges. A society may provide for voting by mail. No amendment submitted for adoption by referendum shall be adopted unless, within six (6) months from the date of submission of the amendment, a majority of the members voting have signified their consent to the amendment by one (1) of the methods specified in this section.
(b)
All amendments to the laws of any domestic society shall be filed with the commissioner and shall become operative upon the filing unless a later time be provided in the amendments or in laws of the society.
(c)
Within ninety (90) days from the effective date of the amendment, all the amendments, or a synopsis thereof, shall be furnished to all members of the society either by mail or publication in full in the official publication of the society. The affidavit of any officer of the society or of anyone authorized by it to mail any amendments or synopsis, stating facts that show that same have been duly addressed and mailed, shall be prima facie evidence that the amendments or synopsis have been furnished the addressee.
(d)
Every foreign or alien society authorized to do business in this state shall file with the commissioner a duly certified copy of all amendments of, or additions to, its laws within ninety (90) days after the enactment of the amendments.
(e)
Printed copies of the laws as amended, certified by the secretary or corresponding officer of the society, shall be prima facie evidence of the legal adoption of the laws.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 3 - ORGANIZATION (§§ 56-25-301 — 56-25-306) › Section 56-25-303 - Nonprofit institutions

A society may create, maintain and operate, or may establish organizations to operate, not-for-profit institutions to further the purposes permitted by §
56-25-105(a)(2)
. The institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held or leased by the society for this purpose shall be reported in every annual statement.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 3 - ORGANIZATION (§§ 56-25-301 — 56-25-306) › Section 56-25-304 - Restrictions on merger, consolidation or reinsurance

(a)
No fraternal benefit society organized under the laws of this state to do the business of life, accident, or health insurance shall consolidate or merge with any other fraternal benefit society, or reinsure its insurance risks, or any part thereof, with any other fraternal benefit society, or assume or reinsure the whole or any portion of the risks of any other fraternal benefit society, except as provided in this chapter.
(b)
No fraternal benefit society or subordinate body thereof shall merge or consolidate with any company or association not licensed to transact business as a fraternal benefit society.
(c)
Each fraternal benefit society subject to this chapter shall comply with §§
56-2-207
- 56-2-209 governing reinsurance contracts. In addition, no reinsurance contract of a fraternal benefit society shall cede or assume risks resident of this state if the principal purpose of such reinsurance contract, as determined by the commissioner, is to avoid the tax due under §
56-4-205
.
Acts 1990, ch. 703, § 1; 1999, ch. 177, §§ 1, 2.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 3 - ORGANIZATION (§§ 56-25-301 — 56-25-306) › Section 56-25-306 - Conversion to stock or mutual life insurance company

Any domestic fraternal benefit society may be converted and licensed as a stock or mutual life insurance company by compliance with all the requirements of this title for stock or mutual life insurance companies. A plan of conversion shall be prepared in writing by the board of directors, setting forth in full the terms and conditions of conversion. The affirmative vote of two thirds (2/3) of all members of the supreme governing body at a regular or special meeting shall be necessary for the approval of the commissioner, who may give approval if the commissioner finds that the proposed change is in conformity with the requirements of law and not prejudicial to the certificate holders of the society.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 4 - CONTRACTUAL BENEFITS (§§ 56-25-401 — 56-25-405) › Section 56-25-401 - Benefits

(a)
A society may provide the following contractual benefits in any form:
(1)
Death benefits;
(2)
Endowment benefits;
(3)
Annuity benefits;
(4)
Temporary or permanent disability benefits;
(5)
Hospital, medical or nursing benefits;
(6)
Monument or tombstone benefits to the memory of deceased members; and
(7)
Such other benefits as authorized for life insurers and that are not inconsistent with this chapter.
(b)
A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits in subsection (a), consistent with providing benefits to members and their dependents. A society may provide benefits on the lives of children under the minimum age for adult membership upon application of an adult person.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 4 - CONTRACTUAL BENEFITS (§§ 56-25-401 — 56-25-405) › Section 56-25-402 - Beneficiaries - Funeral benefits

(a)
The owner of a benefit contract has the right at all times to change the beneficiaries in accordance with the laws or rules of the society, unless the owner waives this right by specifically requesting in writing that the beneficiary designation be irrevocable. A society may, through its laws or rules, limit the scope of beneficiary designations and shall provide that no revocable beneficiary shall have or obtain any vested interest in the proceeds of any certificate, until the certificate has become due and payable in conformity with the benefit contract.
(b)
A society may make provision for the payment of funeral benefits to the extent of the portion of any payment under a certificate as might reasonably appear to be due to any person equitably entitled thereto by reason of having incurred expenses occasioned by the burial of the member.
(c)
If, at the death of any person insured under a benefit contract, there is no lawful beneficiary to whom the proceeds are payable, the amount of the benefit, except to the extent that funeral benefits may be paid as provided in this section, shall be payable to the personal representatives of the deceased insured; provided, that if the owner of the certificate is other than the insured, the proceeds shall be payable to the owner.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 4 - CONTRACTUAL BENEFITS (§§ 56-25-401 — 56-25-405) › Section 56-25-403 - Exemption from attachment, garnishment or other process

No money or other benefit, charity, relief or aid to be paid, provided or rendered by any society, shall be liable to attachment, garnishment or other process, or to be seized, taken, appropriated or applied by any legal or equitable process or operation of law to pay any debt or liability of a member or beneficiary, or any other person who may have a right thereunder, either before or after payment by the society.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 4 - CONTRACTUAL BENEFITS (§§ 56-25-401 — 56-25-405) › Section 56-25-405 - Nonforfeiture benefits, cash surrender values, loans or other options

(a)
For certificates issued prior to one (1) year after January 1, 1991, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender, loan or other option granted shall comply with law applicable immediately prior to January 1, 1991.
(b)
For certificates issued on or after January 1, 1992, for which reserves are computed on the commissioner's 1941 standard ordinary mortality table, the commissioner's 1941 standard industrial table or the commissioner's 1958 standard ordinary mortality table, or the commissioner's 1980 standard mortality table, or any more recent table made applicable to life insurers, every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan or other option granted shall not be less than the corresponding amount ascertained in accordance with the laws of this state applicable to life insurers issuing policies containing like benefits based upon the tables.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 5 - FINANCES (§§ 56-25-501 — 56-25-504) › Section 56-25-501 - Investments

A society shall invest its funds only in the investments that are authorized by the laws of this state for the investment of assets of life insurers and subject to the limitations on the investment. Any foreign or alien society permitted or seeking to do business in this state, which invests its funds in accordance with the laws of the state, district, territory, country or province in which it is incorporated, shall be held to meet the requirements of this section for the investment of funds.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 5 - FINANCES (§§ 56-25-501 — 56-25-504) › Section 56-25-502 - Management of assets

(a)
All assets shall be held, invested and disbursed for the use and the benefit of the society, and no member or beneficiary shall have or acquire individual rights therein or become entitled to any apportionment on the surrender of any part thereof, except as provided in the benefit contract.
(b)
A society may create, maintain, invest, disburse and apply any special fund or funds necessary to carry out any purpose permitted by the laws of the society.
(c)
A society may, pursuant to resolution of its supreme governing body, establish and operate one (1) or more separate accounts and issue contracts on a variable basis, subject to law regulating life insurers establishing the accounts and issuing the contracts. To the extent the society deems it necessary in order to comply with any applicable federal or state laws, or any rules issued thereunder, the society may adopt special procedures for the conduct of the business and affairs of a separate account; may, for persons having beneficial interest therein, provide special voting and other rights, including, without limitation, special rights and procedures relating to investment policy, investment advisory services, selection of certified public accountants, and selection of a committee to manage the business and affairs of the account; and may issue contracts on a variable basis to which §
56-25-404(b) and (d)
shall not apply.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 5 - FINANCES (§§ 56-25-501 — 56-25-504) › Section 56-25-503 - Exemption from insurance laws

Except as herein provided, societies are governed by this chapter and are exempt from all other provisions of the insurance laws of this state unless they are expressly designated therein, or unless it is specifically made applicable by this chapter.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 5 - FINANCES (§§ 56-25-501 — 56-25-504) › Section 56-25-504 - Tax exemptions

Every society organized or licensed under this chapter is declared to be a charitable and benevolent institution, and all of its funds are exempt from all and every state, county, district, municipal and school tax other than taxes on real estate and personal property.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 6 - REGULATION (§§ 56-25-601 — 56-25-610) › Section 56-25-601 - Standards for valuation of certificates - Reserves

(a)
Standards of valuation for certificates issued prior to January 1, 1992, shall be those provided by the laws applicable immediately prior to January 1, 1991.
(b)
(1)
The minimum standards of valuation for certificates issued on or after January 1, 1992, shall be based on the following tables:
(A)
For certificates of life insurance, the commissioner's 1941 standard ordinary mortality table, the commissioner's 1941 standard industrial mortality table, the commissioner's 1958 standard ordinary mortality table, the commissioner's 1980 standard ordinary mortality table or any more recent table made applicable to life insurers; and
(B)
For annuity and pure endowment certificates, for total and permanent disability benefits, for accidental death benefits and for noncancellable accident and health benefits, the tables as are authorized for use by life insurers in this state.
(2)
All certificates in subdivision (b)(1) shall be under valuation methods and standards, including interest assumptions, in accordance with the laws of this state applicable to life insurers issuing policies containing like benefits.
(c)
The commissioner has the discretion to accept other standards for valuation, if the commissioner finds that the reserves produced thereby will not be less in the aggregate than reserves computed in accordance with the minimum valuation standard herein prescribed. The commissioner has the discretion to vary the standards of mortality applicable to all benefit contracts on substandard lives or other hazardous lives by any society authorized to do business in this state.
(d)
Any society, with the consent of the commissioner of the state of domicile of the society and under such conditions, if any, which the commissioner of commerce and insurance of Tennessee may impose, may establish and maintain reserves on its certificates in excess of the reserves required thereunder, but the contractual rights of any benefit member shall not be affected by the excess reserves.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 6 - REGULATION (§§ 56-25-601 — 56-25-610) › Section 56-25-602 - Annual reports

Reports shall be filed in accordance with the following provisions:
(1)
Every society transacting business in this state shall annually, on or before March 1, unless time has been extended by the commissioner for cause shown, file with the commissioner a true statement of its financial condition, transactions and affairs for the preceding calendar year and pay the fee specified in §
56-4-101
for filing the statement. The statement shall be in general form and context as approved by the National Association of Insurance Commissioners for fraternal benefit societies and as supplemented by additional information required by the commissioner;
(2)
As part of the annual statement herein required, each society shall, on or before March 1, file with the commissioner a valuation of its certificates in force on December 31 last preceding; provided, that the commissioner has the discretion, for cause shown, to extend the time for filing the valuation, for no more than two (2) calendar months. The valuation shall be done in accordance with the standards specified in §
56-25-601
. The valuation and underlying data shall be certified by a qualified actuary or, at the expense of the society, verified by the actuary of the department of insurance of the state of domicile of the society; and
(3)
A society neglecting to file the annual statement in the form and within the time provided by this section shall forfeit one hundred dollars ($100) for each day during which the neglect continues, and, upon notice by the commissioner to that effect, its authority to do business in this state shall cease while the default continues.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 6 - REGULATION (§§ 56-25-601 — 56-25-610) › Section 56-25-603 - License

Societies that are now authorized to transact business in this state, and all societies hereafter licensed, may continue such business until June 30, 1992. The authority of these societies and all societies hereafter licensed may thereafter be renewed annually, but in all cases to terminate on the succeeding June 30. However, a license so issued shall continue in full force and effect until the new license is issued or specifically refused. For each license or renewal, the society shall pay the commissioner a fee of ten dollars ($10.00). A duly certified copy or duplicate of the license shall be prima facie evidence that the licensee is a fraternal benefit society within the meaning of this chapter.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 6 - REGULATION (§§ 56-25-601 — 56-25-610) › Section 56-25-604 - Examination of societies

(a)
The commissioner, or any person the commissioner may appoint, shall examine any domestic, foreign or alien society transacting or applying for admission to transact business in this state in the same manner as authorized for examination of domestic, foreign or alien insurers. Requirements of notice and an opportunity to respond before findings are made public as provided in the laws regulating insurers shall also be applicable to the examination of societies.
(b)
The expense of each examination and of each valuation, including compensation and actual expense of examiners, shall be paid by the society examined or whose certificates are valued, upon statements furnished by the commissioner.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 6 - REGULATION (§§ 56-25-601 — 56-25-610) › Section 56-25-605 - Admission of foreign or alien society

(a)
No foreign or alien society shall transact business in this state without a license issued by the commissioner.
(b)
Any such society desiring admission to this state shall comply substantially with the requirements and limitations of this chapter applicable to domestic societies. Any such society may be licensed to transact business in this state after first having shown to the satisfaction of the commissioner that it has maintained an active bona fide lodge for a period of not less than three (3) years and:
(1)
Upon filing with the commissioner:
(A)
A duly certified copy of its articles of incorporation;
(B)
A copy of its bylaws, certified by its secretary or corresponding officer;
(C)
A power of attorney to the commissioner as prescribed in §
56-25-701
;
(D)
A statement of its business under oath of its president and secretary or corresponding officers in a form prescribed by the commissioner, duly verified by an examination made by the supervising insurance official of its home state or other state, territory, province or country, satisfactory to the commissioner;
(E)
Certification from the proper officials of its home state, territory, province or country that the society is legally incorporated and licensed to transact business there;
(F)
Copies of its certificate forms; and
(G)
Other information the commissioner may deem necessary; and
(2)
Upon a showing that its assets are invested in accordance with this chapter.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 6 - REGULATION (§§ 56-25-601 — 56-25-610) › Section 56-25-607 - Refusal, suspension or revocation of license of foreign or alien society

(a)
When the commissioner, upon investigation, finds that a foreign or alien society transacting or applying to transact business in this state:
(1)
Has exceeded its powers;
(2)
Has failed to comply with any of the provisions of this chapter;
(3)
Is not fulfilling its contracts in good faith; or
(4)
Is conducting its business fraudulently or in a manner hazardous to its members or creditors or the public;
the commissioner shall notify the society of the deficiency or deficiencies and state in writing the reasons for the dissatisfaction. The commissioner shall at once issue a written notice to the society requiring that the deficiency or deficiencies that exist be corrected. After the notice, the society shall have a thirty-day period in which to comply with the commissioner's request for correction, and if the society fails to comply, the commissioner shall notify the society of the findings of noncompliance and require the society to show cause, on a date named, why its license should not be suspended, revoked or refused.
(b)
If on the date the society does not present good and sufficient reason why its authority to do business in this state should not be suspended, revoked or refused, the commissioner may suspend or refuse the license of the society to do business in this state until satisfactory evidence is furnished to the commissioner that the suspension or refusal should be withdrawn, or the commissioner may revoke the authority of the society to do business in this state.
(c)
Nothing contained in this section shall be taken or construed as preventing any such society from continuing in good faith all contracts made in this state during the time the society was legally authorized to transact business in this state.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 6 - REGULATION (§§ 56-25-601 — 56-25-610) › Section 56-25-608 - Injunctions

No application or petition for injunction against any domestic, foreign or alien society, or lodge thereof, shall be recognized in any court of this state unless made by the attorney general and reporter upon request of the commissioner.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 6 - REGULATION (§§ 56-25-601 — 56-25-610) › Section 56-25-609 - Licensing of agents

Agents of societies shall be licensed in accordance with chapter 6, part 1 of this title regulating the licensing, revocation, suspension or termination of license of resident and nonresident agents.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 6 - REGULATION (§§ 56-25-601 — 56-25-610) › Section 56-25-610 - Unfair competition and unfair or deceptive practices

Every society authorized to do business in this state is subject to chapter 8 of this title relating to unfair methods of competition and unfair or deceptive acts or practices. Nothing in those provisions shall be construed as applying to or affecting the right of any society to determine its eligibility requirements for membership, or be construed as applying to or affecting the offering of benefits exclusively to members or persons eligible for membership in the society by a subsidiary corporation or affiliated organization of the society.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 7 - MISCELLANEOUS PROVISIONS (§§ 56-25-701 — 56-25-704) › Section 56-25-701 - Service of process

(a)
Every society authorized to do business in this state shall appoint in writing the commissioner and each successor in the office of commissioner to be its true and lawful attorney upon whom all lawful process in any action or proceeding against it shall be served, and shall agree in the writing that any lawful process against it which is served on the attorney shall be of the same legal force and validity as if served upon the society, and that the authority shall continue in force so long as any liability remains outstanding in this state. Copies of the appointment, certified by the commissioner, shall be deemed sufficient evidence thereof and shall be admitted in evidence with the same force and effect as the original thereof might be admitted.
(b)
Service shall only be made upon the commissioner, or if absent, upon the person in charge of the commissioner's office. It shall be made in duplicate and shall constitute sufficient service upon the society. When legal process against a society is served upon the commissioner, the commissioner shall forthwith forward one (1) of the duplicate copies by registered mail, prepaid, directed to the secretary or corresponding officer. No such service shall require a society to file its answer, pleading or defense in less than thirty (30) days from the date of mailing the copy of the service to the society. Legal process shall not be served upon a society except in the manner herein provided. At the time of serving any process upon the commissioner, the plaintiff or complainant in the action shall pay to the commissioner a fee of ten dollars ($10.00).
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 7 - MISCELLANEOUS PROVISIONS (§§ 56-25-701 — 56-25-704) › Section 56-25-702 - Judicial review

All decisions and findings of the commissioner made under this chapter shall be subject to review by proper proceedings in any court of competent jurisdiction in this state.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 25 - FRATERNAL BENEFIT SOCIETIES (§§ 56-25-101 — 56-25-704) › Part 7 - MISCELLANEOUS PROVISIONS (§§ 56-25-701 — 56-25-704) › Section 56-25-703 - Offenses - Penalties

(a)
(1)
It is an offense to intentionally make a false or fraudulent statement in or relating to any application for membership or for the purpose of obtaining money from or a benefit in a society.
(2)
A violation of subdivision (a)(1) is a Class A misdemeanor.
(b)
Any person who intentionally makes a false or fraudulent statement in any verified report or declaration under oath required or authorized by this chapter, of any material fact or thing contained in a sworn statement concerning the death or disability of an insured for the purpose of procuring payment of a benefit named in the certificate, commits the offense of perjury and shall be subject to the penalties therefor prescribed by law.
(c)
(1)
It is an offense to solicit membership for, or in any manner assist in procuring membership in, any society not licensed to do business in this state.
(2)
A violation of subdivision (c)(1) is a Class B misdemeanor, punished only by the fine authorized in §
40-35-111
for this classification.
(d)
(1)
It is an offense to intentionally violate, or to neglect or refuse to comply with, the provisions of this chapter for which a penalty is not otherwise prescribed.
(2)
A violation of subdivision (d)(1) is a Class B misdemeanor, punished only by the fine authorized in §
40-35-111
for such classification.
Acts 1990, ch. 703, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 26 - ACCIDENT AND SICKNESS INSURANCE (§§ 56-26-101 — 56-26-305) › Part 1 - GENERAL PROVISIONS (§§ 56-26-101 — 56-26-134) › Section 56-26-103 - Withdrawal of approval - Notice of hearing

The commissioner may, at any time after a hearing of which not less than twenty (20) days' written notice has been given to the insurer, withdraw approval of any such form if it contains a provision for benefits that is misleading, deceptive or that would encourage misrepresentation of the policy, or if, after consideration of all relevant factors, the commissioner finds that the benefits provided by the policy are unreasonable in relation to the premium charged. It is unlawful for the insurer to issue the form or use it in connection with any policy after the effective date of the withdrawal of approval. A notice of any hearing called under §
56-26-102
, this section and §§
56-26-104
- 56-26-105 shall specify the matters to be considered at the hearing, and any decision affirming disapproval or directing withdrawal of approval under §
56-26-102
, this section and §§
56-26-104
- 56-26-105 shall be in writing and shall specify the reasons for the decision.
Acts 1955, ch. 4, § 2; 1976, ch. 590, § 2; T.C.A., § 56-3303.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 26 - ACCIDENT AND SICKNESS INSURANCE (§§ 56-26-101 — 56-26-305) › Part 1 - GENERAL PROVISIONS (§§ 56-26-101 — 56-26-134) › Section 56-26-104 - Disapproval of policy - Limitations and exceptions

The commissioner shall not disapprove or withdraw approval of any such policy on the ground that its provisions do not comply with §§
56-26-108
- 56-26-114 or on the ground that it is not printed in uniform type, if it is shown that the rights of the insured or the beneficiary under the policy as a whole are not less favorable than the rights provided by §§
56-26-108
- 56-26-114, and that the provisions or type size used in the policy are required in the state, district or territory of the United States in which the insurer is organized, anything in §§
56-26-102
- 56-26-105 to the contrary notwithstanding.
Acts 1955, ch. 4, § 2; T.C.A., § 56-3304.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 26 - ACCIDENT AND SICKNESS INSURANCE (§§ 56-26-101 — 56-26-305) › Part 1 - GENERAL PROVISIONS (§§ 56-26-101 — 56-26-134) › Section 56-26-105 - Review - Certiorari

Any order or decision of the commissioner under §§
56-26-102
- 56-26-104 and this section shall be subject to review in the manner provided by title 27, chapter 9, pertaining to the statutory writ of certiorari.
Acts 1955, ch. 4, § 2; T.C.A., § 56-3305.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 26 - ACCIDENT AND SICKNESS INSURANCE (§§ 56-26-101 — 56-26-305) › Part 1 - GENERAL PROVISIONS (§§ 56-26-101 — 56-26-134) › Section 56-26-107 - Policy deliverable in another state

If any policy is issued by an insurer domiciled in this state for delivery to a person residing in another state, and if the official having responsibility for the administration of the insurance laws of such other state has advised the commissioner that any such policy is not subject to approval or disapproval by the official, the commissioner may by ruling require that the policy meet the standards set forth in §
56-26-106
and in §§
56-26-108
- 56-26-114.
Acts 1955, ch. 4, § 3; T.C.A., § 56-3307.