Terms Used In Tennessee Code > Title 56 > Chapter 13 > Part 3 - Branch Captive Insurance Companies

• Alien: means a company formed according to the legal requirements of a foreign country. See Tennessee Code 56-13-102
• Alien captive insurance company: means any insurance company formed to write insurance business for its parents and affiliates and licensed pursuant to the laws of an alien jurisdiction which imposes statutory or regulatory standards in a form acceptable to the commissioner on companies transacting the business of insurance in such jurisdiction. See Tennessee Code 56-13-302
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Branch business: means any insurance business transacted by a branch captive insurance company in this state. See Tennessee Code 56-13-302
• Branch captive insurance company: means any alien captive insurance company licensed by the commissioner to transact the business of insurance in this state through a business unit with a principal place of business in this state. See Tennessee Code 56-13-302
• Branch operations: means any business operations of a branch captive insurance company in this state. See Tennessee Code 56-13-302
• Captive insurance company: means any pure captive insurance company, association captive insurance company, agency captive insurance company, industrial insured captive insurance company, risk retention group, protected cell captive insurance company, incorporated cell captive insurance company, or special purpose financial captive insurance company formed or licensed under this chapter. See Tennessee Code 56-13-102
• Commissioner: means the commissioner of the department, or the commissioner's designee. See Tennessee Code 56-13-102
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Parent: means an individual, corporation, limited liability company, partnership, association, or other entity, or individual that directly or indirectly owns, controls, or holds with power to vote more than fifty percent (50%) of the outstanding voting:
  (A) Securities of a pure captive insurance company organized as a stock corporation. See Tennessee Code 56-13-102
• Pure captive insurance company: means any company that insures risks of its parent and affiliated companies or a controlled unaffiliated business or businesses. See Tennessee Code 56-13-102
• 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
• written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
• Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105