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Tennessee Code Title 56. Insurance § 56-13-207

Current as of January 02, 2024 | Updated by Findlaw Staff

(a) Except as otherwise provided in this section, chapter 9 of this title shall apply to a protected cell captive insurance company.

(b) Upon any order of supervision, rehabilitation, or liquidation of a protected cell captive insurance company, the receiver shall manage the assets and liabilities of the protected cell captive insurance company pursuant to this part.

(c) Notwithstanding chapter 9 of this title:

(1) No assets of a protected cell shall be used to pay any expenses or claims other than those attributable to such protected cell; and

(2) A protected cell captive insurance company's capital and surplus shall at all times be available to pay any expenses of or claims against the protected cell captive insurance company.

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Cite this article: FindLaw.com - Tennessee Code Title 56. Insurance § 56-13-207 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-56-insurance/tn-code-sect-56-13-207/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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