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59 chapters · 1,882 sections in this title.
Tenn. Code Ann. § 56-18-101 Mutual associations — Insuring members
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Any company may restrict its business to the insurance of the lives of its members or stockholders alone, it being the intent of this section to permit of a corporate existence to any professional association, guild, brotherhood or other mutual association, the right, by an arran…
Tenn. Code Ann. § 56-18-102 Minimum capital requirements
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(a) A domestic mutual life insurance company operating under this chapter shall not receive an original or renewal certificate of authority from the commissioner to issue policies or contracts of insurance unless it possesses and maintains capital or surplus funds as required by …
Tenn. Code Ann. § 56-18-103 Board of directors — Powers — Qualifications
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The corporate powers of a mutual life insurance corporation shall be exercised by, and its business and affairs shall be under the control and government of, a board of directors composed of not less than fifteen (15) nor more than twenty-one (21) natural persons who are policyho…
Tenn. Code Ann. § 56-18-104 Division of board of directors — Classification — Terms
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In order to secure continuity of membership in its board of directors, the bylaws of the corporation may provide for division of the board into no more than seven (7) classes as nearly equal in number as possible, and may fix the term of office for each class. Unless such provisi…
