reglab/statecodes huggingface dataset:
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 56-5-117 - Violations - Penalties - Suspension of licenses

(a)
If the commissioner finds that any person or organization has violated this part, the commissioner may impose a penalty of not more than five hundred dollars ($500) for each violation, to be recovered for the use of the state in a civil action brought in the name of the state by the commissioner in a court of competent jurisdiction. Technical violations arising from systems or computer errors of the same type shall be treated as a single violation. In the event of an overcharge, if the insurer makes restitution, including payment of interest, no penalty shall be imposed.
(b)
The commissioner may, in lieu of subsection (a), impose a civil penalty after notice and hearing in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, if the commissioner finds that any person or organization has violated this part. This civil penalty shall not exceed five hundred dollars ($500) for each violation as provided for in subsection (a).
(c)
The commissioner has the discretion to abate the part of the penalty in this section that the facts of the particular case warrant and to bring suit for a lesser amount that may be determined, or to accept the lesser amount in settlement of the state's claim for penalties. Any abatement or settlement of the penalties by the commissioner shall be with the consent and approval of the attorney general and reporter.
(d)
The commissioner may suspend the license of any rate service organization or insurer for failure to comply with an order of the commissioner within the time limited by the order, or any extension of the time that the commissioner may grant. The commissioner may determine when a suspension of license becomes effective and it shall remain in effect for the period fixed by the commissioner, unless the commissioner modifies or rescinds the suspension, or until the order upon which the suspension is based is modified, rescinded, or reversed.
(e)
No license shall be suspended except upon a written order of the commissioner, stating the commissioner's findings, made after a hearing held upon not less than ten (10) days' written notice to the person or organization, specifying the alleged violation.
Acts 1983, ch. 66, § 18.
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 56-5-118 - Review of commissioner's orders

Review of any order issued by the commissioner shall be in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5. Where the order of the commissioner results in an increase or decrease in rates, any insurer affected by the increase or decrease may, with leave of court, pending final disposition of the proceedings in the chancery court, continue to charge rates that were obtained prior to the order of decrease, or may charge rates resulting from the order of increase on condition that the difference in the premiums be deposited in a special account by the insurer or paid to the holders of policies issued after the order of the commissioner, as the court may determine.
Acts 1983, ch. 66, § 19.
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 56-5-119 - System intended to provide stable insurance market

It is the intent of the general assembly that the advisory prospective loss costs system for workers' compensation insurance be implemented with the goal of providing long-term stability in the workers' compensation insurance market.
Acts 1996, ch. 944, § 31.
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 56-5-120 - Designated rate service organizations - Uniform statistical plan - Workers' compensation insurers - Membership - Policy forms - Uniform classification scheme - Uniform experience rating plan

(a)
The commissioner may designate a rate service organization to assist in gathering, compiling and reporting relevant workers' compensation insurance statistical information. If the commissioner makes the designation, every workers' compensation insurer shall record and report its workers' compensation insurance experience to the designated rate service organization as set forth in the uniform statistical plan approved by the commissioner and if requested shall file a copy of the report with the commissioner.
(b)
Each workers' compensation insurer shall be a member of the workers' compensation insurance rate service organization. Each workers' compensation insurer shall adhere to the policy forms and rating rules filed by the designated rate service organization.
(c)
Every workers' compensation insurer shall adhere to a uniform classification system and uniform experience and retrospective rating plans that have been filed with the commissioner by the designated rate service organization and approved by the commissioner.
(d)
Subject to the approval of the commissioner, the rate service organization shall develop and file rules reasonably related to the recording and reporting of data pursuant to the uniform statistical plan, uniform experience rating plan and the uniform classification system.
(e)
For workers' compensation insurance provided in the voluntary market, no schedule rating plan shall limit its application to any risk based on premium size or eligibility for experience rating; provided, that the application for the plan to any individual risk shall not result in the premium for the risk being less than the classification minimum premium established for workers' compensation insurance.
Acts 1996, ch. 944, § 40; 1997, ch. 533, §§ 15, 16; 1998, ch. 1024, § 19.
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 56-5-121 - Interchange of data for rating plans - Cooperative activities

(a)
Reasonable rules and plans may be promulgated by the commissioner for the interchange of data necessary for the application of rating plans.
(b)
In order to further conform administration of rate regulatory laws, the commissioner and every insurer and the advisory organization designated by the commissioner may exchange information and experience data with insurance supervisory officials, insurers and advisory organizations in other states and may consult with them with respect to rate making and the application of rating systems.
(c)
Cooperation among advisory organizations, or among advisory organizations and insurers in rate making or in other matters within the scope of this chapter is authorized, but the filings resulting from the cooperation are subject to this chapter. The commissioner, with the assistance of the attorney general and reporter, may review the cooperative activities and practices. If after a hearing the activity or practice is found to violate this chapter, the commissioner may issue a written order specifying that the activity or practice violates this chapter and requiring the discontinuance of the activity.
Acts 1996, ch. 944, § 41.
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 56-5-123 - Commercial lines insurer's obligation to furnish loss run history to insured

(a)
Within ten (10) business days of receipt of a written request from an insured or an insured's designee, a commercial lines insurer shall furnish directly to the person designated in the request, a copy of the insured's loss run history for up to the previous three (3) years, or complete loss run history with the insurer if the history is less than three (3) years. A written request includes communications made by email or fax. For the purposes of this section, "receipt" means receipt by an individual or entity designated by an insurer to receive loss run history requests.
(b)
If the insurer fails to provide the requested information within the time allowed in this section, the failure shall be a violation of the Tennessee Unfair Trade Practices and Unfair Claims Settlement Act of 2009, compiled in chapter 8, part 1 of this title, and any requestor may seek enforcement and any remedies allowed pursuant to that chapter. The commissioner may take action in accordance with §
56-2-305
for the violation of subsection (a).
(c)
Notwithstanding this part to the contrary, no insurer shall charge any fees to prepare and furnish one (1) three-year loss run history. However, if the insurer provides the loss run history via electronic means, then the insurer may charge a reasonable fee to provide a hard copy of the same report.
Amended by 2014 Tenn. Acts, ch. 521,s 1, eff. 7/1/2014.
Acts 2003, ch. 359, § 14; 2005, ch. 165, § 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 2 - RESTRICTIONS ON USE OF CREDIT SCORES (§§ 56-5-201 — 56-5-207) › Section 56-5-201 - Part definitions

As used in this part, unless the context otherwise requires:
(1)
"Adverse action" means a denial or cancellation of, an increase in any charge for, or a reduction or other adverse or unfavorable change in the terms of coverage or amount of, any insurance, existing or applied for, in connection with the underwriting of personal insurance. An offer of placement with an affiliate insurer does not constitute adverse action, a refusal to insure, cancellation or nonrenewal of coverage;
(2)
"Affiliate" means any company that controls, is controlled by, or is under common control with another company;
(3)
"Consumer" means an insured whose credit information is used or whose insurance score is calculated in the underwriting or rating of a personal insurance policy or an applicant for the policy;
(4)
"Consumer reporting agency" means any entity that, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of furnishing consumer reports to third parties;
(5)
"Credit information" means any credit-related information derived from a credit report, found on a credit report itself, or provided on an application for personal insurance. Information that is not credit-related shall not be considered "credit information," regardless of whether it is contained in a credit report or in an application, or is used to calculate an insurance score;
(6)
"Credit report" means any written, oral, or other communication of information by a consumer reporting agency bearing on a consumer's creditworthiness, credit standing or credit capacity that is used or expected to be used or collected in whole or in part for the purpose of serving as a factor to determine personal insurance premiums, eligibility for coverage, or tier placement;
(7)
"Insurance score" means a number or rating that is derived from an algorithm, computer application, model, or other process that is based in whole or in part on credit information for the purposes of predicting the future insurance loss exposure of an individual applicant or insured; and
(8)
"Personal insurance," for the purposes of this part, means private passenger automobile, homeowners, motorcycle, manufactured home owners, noncommercial dwelling fire insurance, boat, personal watercraft, and recreational vehicle policies when those policies are individually underwritten for personal, family or household use.
Acts 2004, ch. 527, § 2.
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 2 - RESTRICTIONS ON USE OF CREDIT SCORES (§§ 56-5-201 — 56-5-207) › Section 56-5-203 - Notice to consumer of adverse action

If an insurer takes an adverse action based on factors that include credit information, the insurer must provide notice to the consumer that an adverse action has been taken. That notice must contain the reason or reasons for the adverse action, described in sufficiently clear and specific language so that a person can identify the basis for the insurer's decision to take an adverse action. The notice must include a description of up to four (4) factors that were the primary influences of the adverse action. The use of generalized terms such as "poor credit history," "poor credit rating," or "poor insurance score" does not meet the explanation requirements of this section. Standardized credit explanations provided by consumer reporting agencies or other third party vendors are deemed to comply with this section.
Acts 2004, ch. 527, § 4.
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 2 - RESTRICTIONS ON USE OF CREDIT SCORES (§§ 56-5-201 — 56-5-207) › Section 56-5-204 - Indemnification

An insurer shall indemnify, defend, and hold an insurance producer harmless from and against all liability, fees and costs arising out of or relating to the actions, errors or omissions of an insurance producer who obtains or uses credit history or insurance scores, or both, for an insurer, provided the insurance producer follows the instructions of or procedures established by the insurer and complies with any applicable law or act. Nothing in this section shall be construed to provide an applicant or insured with a cause of action that does not exist in the absence of this section.
Acts 2004, ch. 527, § 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 2 - RESTRICTIONS ON USE OF CREDIT SCORES (§§ 56-5-201 — 56-5-207) › Section 56-5-205 - Filing of credit scoring models

Insurers that use insurance scores to underwrite or rate risks must file their scoring models or other scoring processes with the department of commerce and insurance. A filing that includes insurance scoring shall include loss experience justifying the use of credit information. The filings shall be kept confidential by the commissioner of commerce and insurance and shall not be construed to be a public record pursuant to title 10, chapter 7.
Acts 2004, ch. 527, § 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 2 - RESTRICTIONS ON USE OF CREDIT SCORES (§§ 56-5-201 — 56-5-207) › Section 56-5-206 - Incorrect or incomplete credit information

If it is determined through the dispute resolution process set forth in the federal Fair Credit Reporting Act (
15 U.S.C. § 1681i(a)(5)
), that the credit information of a current insured was incorrect or incomplete and if the insurer receives notice of the determination from either the consumer reporting agency or from the insured, the insurer shall re-underwrite and re-rate the consumer within thirty (30) days of receiving the notice. After re-underwriting or re-rating the insured, the insurer shall make any adjustments necessary, consistent with its underwriting and rating guidelines. If an insurer determines that the insured has overpaid the premium, the insurer shall refund to the insured the amount of overpayment calculated back to the shorter of either the last twelve (12) months of coverage or the actual policy period.
Acts 2004, ch. 527, § 7.
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 2 - RESTRICTIONS ON USE OF CREDIT SCORES (§§ 56-5-201 — 56-5-207) › Section 56-5-207 - Disclosure of intention to use credit information

(a)
If an insurer writing personal insurance uses credit information in underwriting or rating a consumer, the insurer or its agent shall disclose, either on the insurance application or at the time the insurance application is taken, that it may obtain credit information in connection with the application. The disclosure shall be either written or provided to an applicant in the same medium as the application for insurance. The insurer need not provide the disclosure statement required under this section to any insured on a renewal policy, if the consumer has previously been provided a disclosure statement.
(b)
Use of the following example disclosure statement constitutes compliance with this section: "In connection with this application for insurance, we may review your credit report or obtain or use a credit-based insurance score based on the information contained in that credit report. We may use a third party in connection with the development of your insurance score."
Acts 2004, ch. 527, § 8.
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 3 - PERSONAL RISK INSURANCE (§§ 56-5-301 — 56-5-302) › Section 56-5-301 - Applicability of part

This part applies to personal risk insurance written on risks in this state by any insurer authorized to do business in this state.
Acts 2011, ch. 94, § 2.
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 3 - PERSONAL RISK INSURANCE (§§ 56-5-301 — 56-5-302) › Section 56-5-302 - Limitations on rate filings

(a)
Notwithstanding the requirements of this title, a filing made by an insurer for personal risk insurance under this part that provides for an overall statewide rate increase or decrease of no more than fifteen percent (15%) in the aggregate for all coverages that are subject to the filing may take effect the date it is filed. The fifteen-percent limitation does not apply on an individual insured basis. No more than one (1) rate filing may be made by an insurer pursuant to the expedited process provided in this section during any twelve-month period, unless a rate filing, when combined with any other rate filing or filings made by an insurer within the preceding twenty-five (25) months, does not result in an overall statewide increase or decrease of more than fifteen percent (15%) in the aggregate for all coverages that are subject to the filing.
(b)
Rate filings falling outside of the limitation provided for in subsection (a) shall be subject to this chapter, unless those filings are otherwise exempt from this chapter pursuant to another section of this title.
(c)
A filing submitted pursuant to subsection (a) is considered to comply with state law; however, if the commissioner of commerce and insurance determines that the filing is inadequate, excessive or unfairly discriminatory, the commissioner shall issue a written order specifying in detail the provisions of this title the insurer has violated and the reasons the filing is inadequate, excessive or unfairly discriminatory and stating a reasonable future date on which the filing is to be considered no longer effective. An order by the commissioner pursuant to this subsection (c) that is issued more than thirty (30) days from the date on which the commissioner received the rate filing is prospective only and does not affect any contract issued or made before the effective date of the order. For purposes of this part, "unfairly discriminatory" means a rate for a risk that is classified in whole or in part on the basis of race, color, creed, or national origin.
(d)
No rate increase within the limitation specified in subsection (a) may be implemented with regard to an individual existing policy, unless the increase is applied at the time of a renewal or conditional renewal of an existing policy and the insurer, at least thirty (30) days in advance of the end of the insured's policy period, mails or delivers to the named insured, at the address shown in the policy, a written notice that clearly and conspicuously discloses its intention to change the rate. A notice of renewal or conditional renewal that clearly and conspicuously discloses the renewal premium applicable to the policy shall be deemed to be in compliance with this subsection (d).
Acts 2011, ch. 94, § 3.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-101 - Short title - Purpose and scope

(a)
This part shall be known and may be cited as the "Tennessee Insurance Producer Licensing Act of 2002."
(b)
This part governs the qualifications and procedures for the licensing of insurance producers. It simplifies and organizes some statutory language to improve efficiency, permits the use of new technology and reduces costs associated with issuing and renewing insurance licenses.
(c)
This part does not apply to surplus lines agents licensed pursuant to the Surplus Lines Insurance Act, compiled in chapter 14 of this title, except as provided in §§
56-6-108
and
56-6-118(b)
.
Acts 2002, ch. 798, § 2.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-103 - License required

A person shall not sell, solicit or negotiate insurance in this state for any class or classes of insurance unless the person is licensed for that line of authority in accordance with this part.
Acts 2002, ch. 798, § 4.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-105 - Application for examination

(a)
A resident individual applying for an insurance producer license shall pass a written examination unless exempt pursuant to §
56-6-109
. The examination must test the knowledge of the individual concerning the lines of authority for which application is made, the duties and responsibilities of an insurance producer, and the insurance laws and rules of this state. A person seeking an insurance producer license shall also:
(1)
Be at least eighteen (18) years of age; and
(2)
Meet all other requirements for an insurance license developed and conducted under rules prescribed by the commissioner.
(b)
The commissioner may make arrangements, including contracting with an outside testing service, for administering examinations and collecting the nonrefundable examination fee.
(c)
An individual who fails to appear for the examination as scheduled or fails to pass the examination, shall reapply for an examination and remit all required fees and forms before being rescheduled for another examination.
(d)
(1)
An individual who fails to pass the examination on the first attempt must wait at least ten (10) calendar days before reapplying to take the examination a second time.
(2)
An individual who fails to pass the examination on the second attempt, or any subsequent attempt, must wait at least thirty (30) calendar days before reapplying to take the examination another time.
Amended by 2023 Tenn. Acts, ch. 57, s 1, eff. 3/21/2023.
Amended by 2018 Tenn. Acts, ch. 639, s 1, eff. 4/2/2018.
Acts 2002, ch. 798, § 6; 2007 , ch. 228, § 1.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-106 - Application for license

(a)
An individual residing in this state applying for an insurance producer license shall make application to the commissioner on the uniform application and declare under penalty of refusal, suspension or revocation of the license that the statements made in the application are true, correct and complete to the best of the individual's knowledge and belief. Before approving the application, the commissioner shall find that the individual:
(1)
Is at least eighteen (18) years of age;
(2)
Has not committed any act that is a ground for denial, suspension or revocation set forth in §
56-6-112
;
(3)
If the individual is applying for a title insurance line of authority, has completed a pre-licensing course of study that consists of a minimum of thirty (30) hours of course work for title insurance;
(4)
Has paid the fees set forth in §
56-6-121
; and
(5)
Has successfully passed the examinations for the lines of authority for which the person has applied.
(b)
A business entity may obtain an insurance producer's license; however, only an individual licensed producer or limited lines producer shall sell, solicit or negotiate a contract of insurance in this state. Application shall be made using the uniform business entity application. An individual authorized and acting on behalf of the business entity shall declare under penalty of refusal, suspension or revocation of the license that the statements made in the application are true, correct and complete to the best of the individual's knowledge and belief. Before approving the application, the commissioner shall find that:
(1)
The business entity has paid the applicable fees set forth in §
56-6-121
; and
(2)
The business entity has designated a principal or officer who also holds a current producer license responsible for the business entity's compliance with the insurance laws, rules and regulations of this state.
(c)
The commissioner may require any documents reasonably necessary to verify the information contained in an application.
Amended by 2024 Tenn. Acts, ch. 890,s 1, eff. 7/1/2024.
Amended by 2023 Tenn. Acts, ch. 57, s 2, eff. 3/21/2023.
Amended by 2014 Tenn. Acts, ch. 650, s 1, eff. 4/8/2014.
Acts 2002, ch. 798, § 7; 2007 , ch. 228, § 2.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-108 - Nonresident licensing

(a)
Unless denied licensure pursuant to §
56-6-112
, a nonresident person shall receive an insurance producer license if:
(1)
The person is currently licensed as a resident insurance producer and is in good standing in the person's home state;
(2)
The person has submitted the proper request for licensure and has paid the applicable fees required by §
56-6-121
;
(3)
The person has submitted or transmitted to the commissioner the application for licensure that the person submitted to the person's home state, or in lieu of the same, a completed uniform application; and
(4)
The person's home state awards insurance producer licenses to residents of this state on the same basis.
(b)
The commissioner may verify the insurance producer's licensing status through any producer database maintained by the NAIC, its affiliates or subsidiaries.
(c)
A nonresident insurance producer who moves from one state to another state or a resident insurance producer who moves from this state to another state shall file a change of address and provide certification from the new resident state within thirty (30) days of the change of legal residence. No fee or license application is required.
(d)
Notwithstanding any other provision of this part, a person licensed as a surplus lines producer in the person's home state shall receive a surplus lines producer license in this state pursuant to subsection (a). Except as provided in subsection (a), nothing in this section otherwise amends or supersedes the Surplus Lines Insurance Act, compiled in chapter 14 of this title.
(e)
Notwithstanding any other provision of this part, a person licensed as a limited line credit insurance producer or any other type of limited lines insurance producer in the person's home state shall receive a nonresident limited lines producer license, pursuant to subsection (a), as long as the license is granted to residents of this state. The license shall grant the nonresident the same scope of authority as granted a resident insurance producer holding the license in this state.
Acts 2002, ch. 798, § 9.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-109 - Exemption from examination

(a)
An individual who applies for an insurance producer license in this state who was previously licensed for the same lines of authority in another state is not required to complete any examination. This exemption is only available if the person is currently licensed in that state, or if the application is received within ninety (90) days of the cancellation of the applicant's previous license and if the prior state issues a certification that, at the time of cancellation, the applicant was in good standing in that state or the state's producer database records, maintained by the NAIC, or its affiliates or subsidiaries, indicate that the producer is or was licensed in good standing for the line of authority requested.
(b)
A person licensed as an insurance producer in another state who moves to this state shall make application within ninety (90) days of establishing legal residence to become a resident licensee pursuant to §
56-6-106
. An examination is not required of that person to obtain a line of authority previously held in the prior state, except where the commissioner determines otherwise by rule.
Amended by 2023 Tenn. Acts, ch. 57, s 3, eff. 3/21/2023.
Acts 2002, ch. 798, § 10.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-110 - Limited lines producers

An individual who has met the requirements of §
56-6-106
shall be entitled to a limited lines producer license without examination in one (1) or more of the following limited lines:
(1)
Travel insurance;
(2)
Credit life, credit accident and health insurance, or involuntary unemployment credit insurance;
(3)
Mortgage guaranty insurance;
(4)
Personal property insurance sold to a debtor under a master group policy issued to a creditor;
(5)
Crop insurance;
(6)
Title insurance; provided, that the limited lines producer is an attorney, duly licensed in this state, who acts as a title insurance agent as an ancillary part of the attorney's practice of law;
(7)
Any other lines that the commissioner finds by rule are essential for the transaction of business in this state and do not require the professional competency demanded by an insurance producer's license;
(8)
Portable electronics insurance; or
(9)
Self-service storage insurance.
Amended by 2019 Tenn. Acts, ch. 354,s 2, eff. 5/10/2019.
Amended by 2015 Tenn. Acts, ch. 460,s 1, eff. 1/1/2016.
Amended by 2013 Tenn. Acts, ch. 293,s 9, eff. 7/1/2013.
Acts 2002, ch. 798, § 11; 2005, ch. 58, § 1; 2006, ch. 689, § 2; 2011, ch. 312, § 9.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-111 - Temporary licensing

(a)
The commissioner may issue a temporary insurance producer license for a period not to exceed one hundred eighty (180) days without requiring an examination if the commissioner deems that the temporary license is necessary for the servicing of an insurance business in the following cases:
(1)
To the surviving spouse or court-appointed personal representative of a licensed insurance producer who dies or becomes mentally or physically disabled to allow adequate time for the sale of the insurance business owned by the producer or for the recovery or return of the producer to the business or to provide for the training and licensing of new personnel to operate the producer's business;
(2)
To a member or employee of a business entity licensed as an insurance producer, upon the death or disability of an individual designated in the business entity application or the license;
(3)
To the designee of a licensed insurance producer entering active service in the armed forces of the United States; or
(4)
In any other circumstance where the commissioner deems that the public interest will best be served by the issuance of this license.
(b)
The commissioner may by order limit the authority of any temporary licensee in any way deemed necessary to protect insureds and the public. The commissioner may require the temporary licensee to have a suitable sponsor who is a licensed producer or insurer and who assumes responsibility for all acts of the temporary licensee and may impose other similar requirements designed to protect insureds and the public. A temporary license issued under this part may also be suspended or revoked pursuant to §
56-6-112
. A temporary license may not continue after the owner or the personal representative disposes of the business.
Acts 2002, ch. 798, § 12.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-113 - Commissions

(a)
An insurer or insurance producer shall not pay a commission, service fee, brokerage fee or other valuable consideration to a person for selling, soliciting or negotiating insurance in this state if that person is required to be licensed under this part and is not so licensed.
(b)
A person shall not accept a commission, service fee, brokerage or other valuable consideration for selling, soliciting or negotiating insurance in this state if that person is required to be licensed under this part and is not so licensed.
(c)
Renewal or other deferred commissions may be paid to a person for selling, soliciting or negotiating insurance in this state if the person was required to be licensed under this part at the time of the sale, solicitation or negotiation and was so licensed at that time.
(d)
An insurer or insurance producer may pay or assign commissions, service fees, brokerages or other valuable consideration to an insurance agency or to persons who do not sell, solicit or negotiate insurance in this state, unless the payment would violate §
56-8-104(5) or (8)
.
(e)
An unlicensed person may make a referral to a licensed insurance producer if the person does not discuss the specific insurance policy terms and conditions. Except as prohibited by federal law, the unlicensed person may be compensated for the referral. However, an unlicensed person who is neither employed by nor affiliated with the licensed insurance producer may be compensated only if the compensation is a fixed dollar amount, not to exceed twenty-five dollars ($25.00) or such lesser amount as the commissioner may establish by rule, for each referral. In either event, the referral compensation must not depend on whether the referred customer purchases an insurance product from the licensed insurance producer.
Amended by 2019 Tenn. Acts, ch. 165,s 1, eff. 4/18/2019.
Acts 2002, ch. 798, § 14; 2008, ch. 1192, § 6.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-114 - Sale of unauthorized insurance

(a)
A person shall be personally liable for any premiums paid for, or valid claims made on, all contracts of insurance unlawfully sold within this state by or through the person directly or indirectly, for or on behalf of an insurance company not authorized to do business in this state.
(b)
A person who sells insurance in this state for an insurance company not authorized to do business in this state commits a fraudulent insurance act as defined by §
56-53-102
.
Acts 2002, ch. 798, § 15; 2008, ch. 1192, § 7.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-116 - Fiduciary duty

Any money that an insurance producer receives for soliciting, negotiating or selling insurance shall be held in a fiduciary capacity, and shall not be misappropriated, converted or improperly withheld. Any violation of this section shall be considered grounds for the denial, suspension, or revocation of the insurance producer's license and shall subject the insurance producer to the sanctions and penalties set forth under §
56-6-112
.
Acts 2002, ch. 798, § 17.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-118 - Reciprocity

(a)
The commissioner shall waive any requirements for a nonresident license applicant with a valid license from the applicant's home state, except the requirements imposed by §
56-6-108
, if the applicant's home state awards nonresident licenses to residents of this state on the same basis. Notwithstanding any other provision of this part, after a public hearing the commissioner may waive any of the limitations or requirements imposed by §
56-6-108
if the applicant's home state awards nonresident licenses to residents of this state on the same basis. However, nothing contained in this subsection (a) shall prevent the commissioner from denying, suspending or revoking a license issued under this part pursuant to §
56-6-112
.
(b)
A nonresident producer's satisfaction of the producer's home state's continuing education requirements for licensed insurance producers shall constitute satisfaction of this state's continuing education requirements if the nonresident producer's home state recognizes the satisfaction of its continuing education requirements imposed upon producers from this state on the same basis.
Acts 2002, ch. 798, § 19; 2008, ch. 1192, § 3.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-119 - Reporting of actions

(a)
A producer shall report to the commissioner any administrative action taken against the producer in another jurisdiction or by another governmental agency in this state within thirty (30) days of the final disposition of the matter. This report shall include a copy of any order entered or other relevant legal documents.
(b)
Within thirty (30) days of the initial pretrial hearing date, a producer shall report to the commissioner any criminal prosecution of the producer taken in any jurisdiction. The report shall include a copy of the initial complaint filed, the order resulting from the hearing and any other relevant legal documents.
Acts 2002, ch. 798, § 20.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-121 - Fees

In addition to any other fees that may be required elsewhere in this title, the following are the nonrefundable fees that will be paid to the commissioner under this part:
(1)
Except as provided in subdivision (5), fifty dollars ($50.00) for the filing of an application for an insurance producer license or limited lines producer license;
(2)
Sixty dollars ($60.00) for the renewal of an insurance producer license;
(3)
Thirty dollars ($30.00) for the renewal of a limited lines producer license;
(4)
Fifteen dollars ($15.00) for the appointment or termination of appointment of an insurance producer or limited lines producer by an insurer; and
(5)
Seven hundred fifty dollars ($750) for the filing of an initial application or renewal application as a travel insurance supervising entity pursuant to the Travel Insurance Producer Limited License Act, compiled in part 14 of this chapter.
Amended by 2015 Tenn. Acts, ch. 460,s 2, eff. 1/1/2016.
Acts 2002, ch. 798, § 22; 2006, ch. 1018, §§ 4, 5.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-122 - Countersignatures

Notwithstanding any other law to the contrary, there shall be no requirement that an insurance producer who is a resident of this state must countersign a policy of insurance written by an insurance company.
Acts 2002, ch. 798, § 23.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-123 - Assumed names

An insurance producer doing business under any name other than the producer's legal name is required to notify the commissioner prior to using the assumed name.
Acts 2002, ch. 798, § 24.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-124 - Regulations

(a)
The commissioner may, in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, promulgate reasonable regulations as are necessary or proper to carry out the purposes of this part.
(b)
The commissioner shall have the authority to promulgate any emergency rules necessary to implement this part; provided, that permanent rules shall be implemented pursuant to the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.
(c)
The commissioner shall promulgate continuing education requirements for individuals licensed under this part in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.
Acts 2002, ch. 798, § 25.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 1 - TENNESSEE INSURANCE PRODUCER LICENSING ACT OF 2002 (§§ 56-6-101 — 56-6-126) › Section 56-6-126 - Severability

If any provisions of this part or the application of a provision to any person or circumstances is held invalid, the remainder of the part, and the application of the provision to persons or circumstances other than those to which it is held invalid, shall not be affected.
Acts 2002, ch. 798, § 27.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 2 - AGENTS FOR BANK HOLDING COMPANIES (§ 56-6-201) › Section 56-6-201 - Insurance companies offering only surety insurance

(a)
In addition to other powers permitted to banks by title 45, a state bank may own, operate or manage an insurance company offering only surety insurance, as defined in §
56-2-201(6)(E)
.
(b)
An insurance company owned by a bank shall comply with all Tennessee law applicable to insurance companies and shall be regulated by the commissioner of commerce and insurance.
Acts 1988, ch. 948, § 2.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 3 - TIME-PRICE DIFFERENTIAL PAYMENT OF AGENTS (§§ 56-6-301 — 56-6-307) › Section 56-6-301 - Charges on unpaid balances on premium payments - Time-price differential

Insurance agents licensed in this state may charge, receive and collect on the principal balance of unpaid insurance and bond premiums a time-price differential not to exceed the rate now provided for retail merchants under the Retail Installment Sales Act, compiled in title 47, chapter 11:
(1)
On so much of the principal balance as does not exceed five hundred dollars ($500), ten dollars ($10.00) per one hundred dollars ($100) per year;
(2)
If the principal balance exceeds five hundred dollars ($500), but is less than five thousand dollars ($5,000), eight dollars ($8.00) per one hundred dollars ($100) per year on that portion over five hundred dollars ($500); and
(3)
If the principal balance exceeds five thousand dollars ($5,000), six dollars ($6.00) per one hundred dollars ($100) per year on that portion over five thousand dollars ($5,000).
Acts 1965, ch. 356, § 1; T.C.A., § 56-714.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 3 - TIME-PRICE DIFFERENTIAL PAYMENT OF AGENTS (§§ 56-6-301 — 56-6-307) › Section 56-6-302 - Computation of time-price differential

The time-price differential provided for in this part shall be computed in the same manner as is provided in the Retail Installment Sales Act, as set out in §
47-11-103(d)
.
Acts 1965, ch. 356, § 2; T.C.A., § 56-715.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 3 - TIME-PRICE DIFFERENTIAL PAYMENT OF AGENTS (§§ 56-6-301 — 56-6-307) › Section 56-6-303 - Written agreement to charges - Contents of contract

In the event time-price differential charges are made pursuant to this part, the purchaser of insurance must agree to the charges in writing, and the instrument must contain:
(1)
The cash price of the insurance policy or bond and the amount of the initial payment, if any;
(2)
The difference between the two (2), if any;
(3)
The principal balance owed;
(4)
The amount of the time-price differential; and
(5)
The time balance owed by the buyer.
Acts 1965, ch. 356, § 3; T.C.A., § 56-716.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 3 - TIME-PRICE DIFFERENTIAL PAYMENT OF AGENTS (§§ 56-6-301 — 56-6-307) › Section 56-6-304 - Prepayment by buyer before maturity - Refund credit

The buyer of insurance may prepay in full at any time before maturity the unpaid balance due, and in so paying the unpaid balance, shall receive a refund credit as provided under §
47-11-103(h)
.
Acts 1965, ch. 356, § 4; T.C.A., § 56-717.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 3 - TIME-PRICE DIFFERENTIAL PAYMENT OF AGENTS (§§ 56-6-301 — 56-6-307) › Section 56-6-305 - Willful violation a misdemeanor - Penalty

No agent shall make time-price differential charges in excess of the schedule provided in this part, and willful violation of this part is a Class C misdemeanor.
Acts 1965, ch. 356, § 5; T.C.A., § 56-718; Acts 1989, ch. 591, § 113.
2023 Tennessee Code › Title 56 - INSURANCE (§§ 56-1-101 — 56-61-125) › Chapter 6 - AGENTS, SOLICITORS AND ADMINISTRATORS (§§ 56-6-101 — 56-6-1407) › Part 3 - TIME-PRICE DIFFERENTIAL PAYMENT OF AGENTS (§§ 56-6-301 — 56-6-307) › Section 56-6-306 - Transactions not loans - Industrial loan and thrift companies provisions inapplicable

Time-price differential transactions as described in this part shall not be deemed to be loans or forbearances of money or things of value or the making of the loans or forbearances, nor shall they be regulated by or subject to title 45, chapter 5.
Acts 1965, ch. 356, § 6; impl. am. Acts 1979, ch. 204, §§ 8, 26; T.C.A., § 56-719.