(a) This chapter shall be known and may be cited as the “Exchange or Reciprocal Insurance Act of 1990.”

Terms Used In Tennessee Code 56-16-101

  • Reciprocal: means the aggregation of subscribers under a common name. See Tennessee Code 56-16-102
  • Reciprocal insurance: means insurance resulting from the mutual exchange of insurance contracts among persons in an unincorporated association under a common name through an attorney-in-fact having authority to obligate each person both as insured and insurer. See Tennessee Code 56-16-102
(b) This chapter shall apply to all reciprocals and reciprocal insurance as defined in § 56-16-102.