(a) The Tennessee Consumer Protection Act, compiled in title 47, chapter 18, applies to persons transacting the business of legal insurance, except as is inconsistent with this chapter.

Terms Used In Tennessee Code 56-43-111

  • Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
  • Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-43-103
  • Legal insurance: means the assumption of a contractual obligation to provide specified legal services or reimbursement for legal expenses in consideration of a specified payment for an interval of time, regardless of whether the payment is made by the beneficiaries individually or by a third person for them, in such a manner that the total cost incurred by assuming the obligation is to be spread directly or indirectly among a group of persons. See Tennessee Code 56-43-103
  • Person: means any natural or artificial person including, but not limited to, an individual, partnership, association, trust or corporation. See Tennessee Code 56-43-103
(b) The Uniform Insurers Rehabilitation and Liquidation Act of this title, shall apply to a person transacting the business of legal insurance under this chapter.
(c) Subject to this chapter, §§ 56-2-107 and 56-2-111 apply to persons transacting the business of legal insurance.
(d) The insurance law applies generally to legal insurance offered by insurers licensed to write other kinds of insurance; provided, that legal insurance sold by the insurers under a certificate of authority obtained under this chapter shall be regulated by §§ 56-43-102 – 56-43-107, 56-43-112 and 56-43-116 instead of corresponding sections of the insurance code.
(e)

(1) Orders or rules or regulations of the commissioner issued under this chapter shall be subject to the general insurance laws and/or the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, relating to hearings and appeals.
(2) Except as otherwise provided in this chapter, the general insurance law does not apply to insurers authorized under this chapter.
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