Tennessee Code 56-36-104 – Minimum values
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Terms Used In Tennessee Code 56-36-104
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-1-102
- Contract: A legal written agreement that becomes binding when signed.
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
and increased by any existing additional amounts credited by the company to the contract.
and increased by any existing additional amounts credited by the company to the contract;