Tennessee Code Title 66. Property § 66-27-118

(a) In case of fire or any other disaster, the insurance indemnity shall, except as provided in subsection (b), be applied to reconstruct the building.

(b) Reconstruction shall not be compulsory where it comprises the whole or more than two-thirds ( 2/3 ) of the building. In such case, and unless otherwise unanimously agreed upon by the co-owners, the indemnity shall be delivered pro rata to the co-owners entitled to it in accordance with provision made in the bylaws or in accordance with a decision of three-fourths ( 3/4 ) of the co-owners if there are no bylaw provisions.

(c) Should it be proper to proceed with the reconstruction, the provisions for such eventuality made in the bylaws shall be observed, or in lieu thereof, the decision of the council of co-owners shall prevail.