Tenn. Code § 56-13-207

Current through Acts 2023-2024, ch. 1069
Section 56-13-207 - Application of rehabilitation and liquidation provisions
(a) Except as otherwise provided in this section, chapter 9 of this title shall apply to a protected cell captive insurance company.
(b) Upon any order of supervision, rehabilitation, or liquidation of a protected cell captive insurance company, the receiver shall manage the assets and liabilities of the protected cell captive insurance company pursuant to this part.
(c) Notwithstanding chapter 9 of this title:
(1) No assets of a protected cell shall be used to pay any expenses or claims other than those attributable to such protected cell; and
(2) A protected cell captive insurance company's capital and surplus shall at all times be available to pay any expenses of or claims against the protected cell captive insurance company.

T.C.A. § 56-13-207

Acts 2011, ch. 468, § 1.