Terms Used In Tennessee Code 56-27-118

  • Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-27-102
  • 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.

The commissioner has the same authority to examine the service corporation as is granted to the commissioner for the examination of life, accident and health insurance companies, and has the same authority for the correction, rehabilitation or liquidation of the service corporation as is now provided by law for life, health and accident companies.