Tennessee Code Title 56. Insurance § 56-12-105

(a) There is created a nonprofit unincorporated legal entity to be known as the Tennessee insurance guaranty association.

(b) All insurers defined as member insurers shall be and remain members of the association as a condition of their authority to transact insurance in this state.

(c) The association shall perform its functions under a plan of operation established and approved under § 56-12-109 and shall exercise its powers through a board of directors established under § 56-12-107.

(d) For purposes of assessment, and the maintenance of records, the association shall be divided into two (2) separate accounts as follows: