Tennessee Code 56-16-108 – Foreign reciprocals – Licensing requirements
Current as of: 2023 | Check for updates
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Terms Used In Tennessee Code 56-16-108
- Department: means the department of commerce and insurance. See Tennessee Code 56-16-102
- Foreign: when used without limitation, includes all companies formed by authority of any other state or government. See Tennessee Code 56-1-102
- Reciprocal: means the aggregation of subscribers under a common name. See Tennessee Code 56-16-102
- 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
No foreign reciprocal shall be licensed to transact the business of insurance in this state unless it has filed with the department a certificate of the supervising insurance official of the state in which it is organized. The certificate shall show that the foreign reciprocal is licensed to write and is writing actively in that state the class of insurance it proposes to write in this state.