Terms Used In Tennessee Code 56-6-403

  • 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. See Tennessee Code 56-6-401
  • Contract: A legal written agreement that becomes binding when signed.
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105

Whenever an insurer utilizes the services of an administrator under the terms of a written contract as required in § 56-6-402, the payment to the administrator of any premiums or charges for insurance by or on behalf of the insured shall be deemed to have been received by the insurer, and the payment of return premiums or claims by the insurer to the administrator shall not be deemed payment to the insured or claimant until the payments are received by the insured or claimant. Nothing in this section shall limit any right of the insurer against the administrator resulting from its failure to make payments to the insurer, insureds or claimants.

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