2023 Tennessee Code 56-1-502 – Forfeiture for failure to file statement – Suspension of authority to do new business
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Any insurance company that neglects to make and file its annual statement in the form and within the time provided by § 56-1-501 shall forfeit one hundred dollars ($100) for each day neglected, and, upon notice by the commissioner to that effect, its authority to do new business shall cease while the default continues.