If the domestic company owns at least ninety percent (90%) of the outstanding shares of another domestic or foreign stock insurance company, it may merge the other company into itself without approval by a vote of the shareholders of either company in accordance with § 48-21-102. In the event, the approval of the commissioner shall be obtained in the manner specified in § 56-10-104.
Merger of subsidiary company
Tenn. Code Ann. § 56-10-108, under General Provisions.
Tenn. Code Ann. § 56-10-108