Tennessee Code Title 56. Insurance § 56-23-102

(a) False swearing to the statement required by § 56-23-101 shall be deemed perjury, and those who commit it shall be punished as in other cases of perjury.

(b) The company in whose interest the false statement is made shall be denied the right to do business for twelve (12) months thereafter, and if a certificate of authority be obtained thereby for the company, it shall be revoked by the commissioner and the company prohibited from doing business for twelve (12) months next after the discovery of the false statement.