(a)There is created a nonprofit unincorporated legal entity to be known as the Tennessee self-insurers' guaranty association. To the extent that this part conflicts with the Tennessee Nonprofit Corporation Act, compiled in title 48, chapters 51-69, this part controls; however, the association, its officers and directors, and its member self-insurers must not be provided with fewer protections and indemnities from suit than those afforded nonprofit corporations duly incorporated in this state.
(b)All member self-insurers are and must remain members of the association and participate as required in the plan of operation as a condition of their authority to self-insure in this state.
(c)This part does not apply to self-insured groups organized pursuant to § 50-6-405(c) .
Free access — add to your briefcase to read the full text and ask questions with AI
(a) There is created a nonprofit unincorporated legal entity to be known as the Tennessee self-insurers' guaranty association. To the extent that this part conflicts with the Tennessee Nonprofit Corporation Act, compiled in title 48, chapters 51-69, this part controls; however, the association, its officers and directors, and its member self-insurers must not be provided with fewer protections and indemnities from suit than those afforded nonprofit corporations duly incorporated in this state. (b) All member self-insurers are and must remain members of the association and participate as required in the plan of operation as a condition of their authority to self-insure in this state. (c) This part does not apply to self-insured groups organized pursuant to § 50-6-405(c) . (d) The association shall perform its functions under a plan of operation established and approved by the commissioner pursuant to § 50-6-1011 and shall exercise its powers through a board of directors established under this part. (e) This part does not apply to a governmental entity, or a department or division of a governmental entity, that has elected to self-insure pursuant to § 50-6-405(a)(2) , unless the governmental entity, or department or division of the governmental entity, accepts this part by requesting to be a member of the association by written notification to the commissioner and the association, and the commissioner and the association consent in writing to such acceptance. Any such request must be made on or before May 1, 2025, for this part to become effective as to the electing governmental entity as of July 1, 2025, and must be made on or before May 1 of any year thereafter, for this part to become effective as of July 1 of that year. The governmental entity, or department or division of the governmental entity, may, at any time, on or before May 1, withdraw its acceptance of this part by written notification to the commissioner and the association. Such withdrawal becomes effective as of the following July 1. In the event of a withdrawal of acceptance of this part, the requirements of § 50-6-405 apply without regard to this part as of the date the withdrawal becomes effective.