Tennessee Code 56-2-402 – Issuance of license to company controlled by foreign government prohibited
Current as of: 2023 | Check for updates
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Terms Used In Tennessee Code 56-2-402
- Foreign: when used without limitation, includes all companies formed by authority of any other state or government. See Tennessee Code 56-1-102
- insurance company: includes all corporations, associations, partnerships, or individuals engaged as principals in the business of insurance. See Tennessee Code 56-1-102
- 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
- United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
The commissioner is forbidden to grant a license to any insurance company or other insurance entity that is financially owned or financially controlled by any alien or foreign government outside the continental limits of the United States or the territories of the United States, or to authorize the company or entity to transact any kind of insurance business in this state.