(a)

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Terms Used In Tennessee Code 50-6-606

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Board: means the board of directors of the competitive state compensation insurance fund. See Tennessee Code 50-6-602
  • Fund: means the competitive state compensation insurance fund. See Tennessee Code 50-6-602
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
(1) The board is vested with full power, authority, and jurisdiction over the fund.
(2) The board may perform all acts necessary or convenient in the exercise of any power, authority, or jurisdiction over the fund, either in the administration of the fund or in connection with the insurance business to be carried on by it under this part, as fully and completely as the governing body of a private insurance carrier to fulfill the objectives and intent of this part.
(b) The board may invest assets as permitted by § 56-3-402.
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