2023 Tennessee Code 56-1-415 – Issuance of policies by domestic life insurance companies forbidden when assets are insufficient
Current as of: 2023 | Check for updates
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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.