Tenn. Code § 56-1-415

Current through Acts 2023-2024, ch. 1069

Section 56-1-415 - Issuance of policies by domestic life insurance companies forbidden when assets are insufficient

When the actual funds of a domestic life insurance company, exclusive of its capital, are not of a net cash value equal to its liabilities, including the net value of its policies, computed by the rule of valuation established by part 9 of this chapter, the commissioner shall notify the company and its agents to issue no new policies until its funds become equal to its liabilities.

T.C.A. § 56-1-415

Amended by 2013 Tenn. Acts, ch. 260,s 2, eff. 7/1/2013.

Acts 1895, ch. 160, § 7; Shan., § 3287; Code 1932, § 6102; T.C.A. (orig. ed.), § 56-127.