Tennessee Code 56-3-801 – Voluntary deposit of securities for protection of state policyholders and creditors
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Terms Used In Tennessee Code 56-3-801
- 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
Any insurance company may deposit and maintain on deposit with the state treasurer, securities as defined in § 56-3-303(a)(1)-(4), (7) and (8), to be held for the exclusive protection of its policyholders and creditors in this state; provided, that the deposit shall not exceed one hundred percent (100%) of that portion of the insurance company’s reserves as is fairly allocable to insurance on risks located in this state.