Tennessee Code 56-29-110 – Acquisition and administrative expenses – Limitation – Approval
Current as of: 2023 | Check for updates
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Terms Used In Tennessee Code 56-29-110
- 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.
- Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
All acquisition and administrative expenses in connection with the hospital service corporations shall at all times be limited after the first year of operation to not exceed twenty-five percent (25%) of the total net premium income of the corporation. All acquisition and administrative expenses shall be subject to the approval of the commissioner.