(a) To apply for a certificate of authority, a person shall file with the commissioner an application on a form adopted by the commissioner, accompanied by a nonrefundable filing fee in the amount referenced in § 56-4-101(a)(1). A person in this state applying for a certificate of authority to act as a county mutual insurance company shall, under penalty of refusal, suspension or revocation of the certificate of authority, declare that the statements made in the application are true, correct and complete to the best of the person’s knowledge and belief.

Terms Used In Tennessee Code 56-22-105

  • Certificate of authority: means a legal right granted by the commissioner and enjoyed by a county mutual insurance company to provide insurance as provided for in this chapter. See Tennessee Code 56-22-103
  • Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-22-103
  • County mutual insurance company: means a person that is authorized to provide insurance coverage pursuant to this chapter. See Tennessee Code 56-22-103
  • insurance company: means any corporation, association, partnership or individual engaged as a principal in the business of insurance not licensed pursuant to this chapter. See Tennessee Code 56-22-103
  • Person: means an individual, a corporation, a partnership, an association, a joint stock company, a trust, an unincorporated organization, any similar entity or any combination of these acting in concert. See Tennessee Code 56-22-103
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Surplus: means the accumulated assets of a county mutual insurance company that exceed the county mutual insurance company's accrued losses and expenses. See Tennessee Code 56-22-103
(b) An application for a certificate of authority shall include the following documentation, together with any other information or documentation the commissioner may require:

(1) A certified copy of the articles of incorporation, charter or other such document;
(2) A certified copy of the bylaws or other similar document; and
(3) The names of the officers and directors of the county mutual insurance company.
(c) No certificate of authority shall be granted or maintained, unless the applicant or county mutual insurance company can prove to the commissioner’s satisfaction that it will be able to write at least one hundred (100) policies of insurance and possesses at least two hundred thousand dollars ($200,000) in surplus.
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