Application for the license shall be made on forms approved by the commissioner, containing information the commissioner deems necessary. Every application for the license shall be accompanied by copies of the following documents:

(1) A certified copy of its charter or certificate of incorporation;

Terms Used In Tennessee Code 56-27-111

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-27-102
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Medical services: means the general and usual services and care rendered and administered by doctors of medicine. See Tennessee Code 56-27-102
  • signed: includes a mark, the name being written near the mark and witnessed, or any other symbol or methodology executed or adopted by a party with intention to authenticate a writing or record, regardless of being witnessed. See Tennessee Code 1-3-105
  • Subscription: includes a mark, the name being written near the mark and witnessed. See Tennessee Code 1-3-105
(2) A copy of its bylaws, certified by the lawful custodian of the original;
(3) Proposed contract between the corporation and the participating physicians showing terms under which medical service is to be furnished to subscribers;
(4) Subscription contracts to be issued to subscribers showing a table of the rates to be charged and the benefits to which they are entitled, showing benefits expressed in service rather than in dollars; however, with equitable arrangements to protect the interests of subscribers when it becomes impossible for the services to be provided. The contracts should make clear that the responsibility for service to subscribers rests with the corporation, and not with the participating physicians;
(5) A statement of the county or counties in which it proposes to operate medical service plans;
(6) A statement of its financial condition and business in such form and detail as the commissioner may require, including the amounts of contributions paid for working capital and the name or names of each contributor, and the terms of the contribution, signed and sworn to by its president and secretary, or other proper officers, and shall pay for the filing of the statement the sum of thirty dollars ($30.00). Contributions not paid, but agreed to be paid, may be reported as a separate item, but shall not be admitted as assets of the corporation;
(7) A copy of its proposed prospectus and advertising material to be used in the solicitation of contracts; and
(8) Proof satisfactory to the commissioner that in the county or counties in which the corporation proposes to operate, fifty-one percent (51%) or more of the resident doctors of medicine have agreed to render the medical services for which the corporation agrees to pay.
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