Section 0780-01-12-.04 - RISK RATE(1) The risk rate filed pursuant to subparagraphs (c) and (d) of Rule 0780-1-12-.02 which is to serve as the basis for the calculation of the taxes and the establishment of the reserves therein recited shall encompass the entire consideration for the functions embraced by the definition of "risk rate" in T.C.A. §56-35-102(a)(8), without diminution for commissions paid to or retained by a title insurance agency or a title insurance agent.(2) No portion of any risk rate filed pursuant to subparagraphs (c) and (d) of Rule 0780-1-12.02 shall be paid to any person to defray the cost of abstracting, record searching, certificates as to the record title to real estate, escrow, and closing services, examination of title or any other service or function not embraced by the definition of "risk rate" in T.C.A., § 56-35-102(a)(8).
Tenn. Comp. R. & Regs. 0780-01-12-.04
Original rule certified June 10, 1974. Repeal and new rule filed January 20, 1984; effective February 19, 1984. Repeal and new rule filed November 10, 1994; effective January 24, 1995.Authority: T.C.A. §§ 56-35-102 and 56-35-122.