As used in this part, “administrator” means any person, company, corporation, partnership, association or other legal entity that collects charges or premiums from, or that adjusts or settles claims on, residents of this state in connection with life or health insurance coverage or annuities other than:

(1) An employer on behalf of its employees or the employees of one (1) or more subsidiary or affiliated corporations of the employer;

Terms Used In Tennessee Code 56-6-401

  • Attorney: means the person designated and authorized by subscribers as the attorney-in-fact having authority to obligate them on reciprocal insurance contracts. See Tennessee Code 56-16-102
  • Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
  • 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.
  • insurance company: includes all corporations, associations, partnerships, or individuals engaged as principals in the business of insurance. See Tennessee Code 56-1-102
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means any association, aggregate of individuals, business, company, corporation, individual, joint-stock company, Lloyds-type organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Tennessee Code 56-16-102
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(2) A union on behalf of its members;
(3) An insurance company that is either licensed in this state or acting as an insurer with respect to a policy lawfully issued and delivered by it in and pursuant to the laws of a state in which the insurer was authorized to conduct an insurance business or a nonprofit hospital, medical, dental or vision service organization, including its sales representatives, licensed in this state when engaged in the performance of its duties as such, or a duly licensed health maintenance organization;
(4) A life or health agent or broker licensed in this state, whose activities are limited exclusively to the sale of insurance, or sales-related services for which no monetary compensation is paid;
(5) A creditor on behalf of its debtors with respect to insurance covering a debt between the creditor and its debtors;
(6) A trust, its trustees, agents and employees acting under the trust, established in conformity with 29 U.S.C. § 186;
(7) A trust exempt from taxation under the Internal Revenue Code, § 501(a) ( 26 U.S.C. § 501(a) ), its trustees, and employees acting under 26 U.S.C. § 501(a), or a custodian, its agents and employees acting pursuant to a custodian account that meets the requirements of the Internal Revenue Code, § 401(f) ( 26 U.S.C. § 401(f) );
(8) A bank, credit union or other financial institution that is subject to supervision or examination by federal or state banking authorities;
(9) A credit card issuing company that advances for and collects premiums or charges from its credit card holders who have authorized it to do so, provided the company does not adjust or settle claims; or
(10) A person who adjusts or settles claims in the normal course of the person’s practice or employment as an attorney at law, and who does not collect charges or premiums in connection with life or health insurance coverage or annuities.
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