Tennessee § 13-22-103 Continuation of agency - Termination - Payment of claims

Tennessee Statutes

§ 13-22-103 — Continuation of agency - Termination - Payment of claims

Tennessee § 13-22-103

Title13

This text of Tennessee § 13-22-103 (Continuation of agency - Termination - Payment of claims) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 13-22-103 (2026).

Text

(a)The agency shall continue until terminated by law; provided, that no such law shall take effect so long as the agency has commitments to insure mortgages, contracts of mortgage insurance, or other obligations outstanding, unless adequate provision has been made for the administration thereof, including the payment of claims.

(b)Should the agency be unable to pay, for a period of one hundred twenty (120) days, a claim arising under a contract of mortgage insurance, the state shall make adequate provision for the payment of such claims.

(c)Upon termination of the existence of the agency, all rights and properties shall pass to and be vested in the state.

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(a) The agency shall continue until terminated by law; provided, that no such law shall take effect so long as the agency has commitments to insure mortgages, contracts of mortgage insurance, or other obligations outstanding, unless adequate provision has been made for the administration thereof, including the payment of claims. (b) Should the agency be unable to pay, for a period of one hundred twenty (120) days, a claim arising under a contract of mortgage insurance, the state shall make adequate provision for the payment of such claims. (c) Upon termination of the existence of the agency, all rights and properties shall pass to and be vested in the state.

Legislative History

Acts 1973, ch. 313, §§ 3-5; modified; 1974, ch. 579, § 2; 1975, ch. 339, § 3; 1976, ch. 797, § 2; 1976, ch. 806, § 1(56); 1977, ch. 360, § 3; T.C.A., §§13-2203, 13-2204, 13-2205; Acts 1988, ch. 901, §§ 4, 5; 1988, ch. 1013, § 10.