Section 0780-01-60-.04 - APPLICATIONS(1) Each application for a certificate of authority shall be verified by an officer or authorized representative of the applicant and shall set forth or be accompanied by the following: (a) A review of application fee in the sum of five hundred dollars ($500);(b) A properly certified copy of the corporation charter;(c) A properly certified copy of the corporation by-laws;(e) All agreements with attorneys for the provision of legal services;(f) Any agreement with another person authorized under this chapter, an insurer licensed under the general insurance law to do business in this state to provide reinsurance, or an agency of the federal or state government for insuring payment of the cost of legal services or the provision for automatic applicability of an alternative coverage in the event the insurer is unable to perform its obligations;(g) A deposit meeting the requirements of Rule 0780-1-60-.05(1)(d):(h) A statement of its financial condition and business on December 31 of the year preceding the date on which it shall apply for permission to transact business, in such form and detail as the commissioner may require, signed and sworn to by its president and secretary, or other proper officers;(i) If a foreign corporation, a certified statement of the secretary of state to the effect that its name complies with the requirements of Title 48, Chapter 14 or Title 48, Chapter 54 as applicable;(j) If a foreign corporation and if licensed as an insurer in the state of domicile, a certificate of good standing from its state of domicile;(k) A duly executed power of attorney appointing the commissioner and duly authorized deputies as the true and lawful attorneys of the applicant in and for the state, upon whom all lawful process in any legal action or proceeding against the applicant on a cause of action arising in this state may be served;(l) A filing fee in the sum of one hundred dollars ($100);(m) Such other information as the commissioner may require in order to make the determination required in T.C.A. § 56-43-105.(2) No person shall be qualified or authorized to do business under the Act until the commissioner has determined that:(a) The person's plan of operation is sound;(b) The incorporaters, directors and proposed officers are of known good character and there is no good reason to believe that they are affiliated, directly or indirectly, through ownership, control, management, reinsurance transactions or other insurance or business relations with any person or persons known to have been involved in the improper manipulation of assets, accounts, reinsurance, or any matter inimical to the business of insurance;(c) The person is fully and legally organized under the laws of the state of its incorporation;(d) The person demonstrates the willingness and ability to assure that the promised benefits can be provided.Tenn. Comp. R. & Regs. 0780-01-60-.04
Original rule filed March 6, 1991; effective April 20, 1991.Authority: T.C.A. §§ 56-2-301, 56-4-101, 56-43-104, 56-43-105, 56-43-112 and 56-43-115.