Tennessee Code 56-22-119 – Fraud
Current as of: 2024 | Check for updates
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Terms Used In Tennessee Code 56-22-119
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- County mutual insurance company: means a person that is authorized to provide insurance coverage pursuant to this chapter. See Tennessee Code 56-22-103
- insurance company: means any corporation, association, partnership or individual engaged as a principal in the business of insurance not licensed pursuant to this chapter. See Tennessee Code 56-22-103
- Person: means an individual, a corporation, a partnership, an association, a joint stock company, a trust, an unincorporated organization, any similar entity or any combination of these acting in concert. See Tennessee Code 56-22-103
A director, an officer, a member, an insurance producer, or an employee of a county mutual insurance company who knowingly or intentionally, directly or indirectly, uses or employs, or allows another person to use or employ, money, funds, securities, or assets of the county mutual insurance company for private profit or gain commits a fraudulent insurance act under § 56-53-102, subjecting the person to the criminal penalties found in § 56-53-104.