(a) An insurer otherwise qualified therefor may be authorized to transact combinations of kinds of insurance while processing and maintaining capital, if a stock company, or surplus funds, if a mutual, reciprocal, or Lloyd’s plan insurer, in the amount of one million dollars ($1,000,000).
Terms Used In Tennessee Code 56-2-114
Reciprocal: means the aggregation of subscribers under a common name. See Tennessee Code 56-16-102
(b) To transact the business of reinsuring credit life and credit accident insurance and health insurance, an insurer must possess and maintain capital in the amount of one hundred fifty thousand dollars ($150,000); provided, that a company so authorized shall not be authorized to conduct any other line of business unless otherwise qualified.
