Tennessee § 50-6-610 Powers of fund

Tennessee Statutes

§ 50-6-610 — Powers of fund

Tennessee § 50-6-610

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This text of Tennessee § 50-6-610 (Powers of fund) 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. § 50-6-610 (2026).

Text

For purposes of exercising the specific powers granted in this part and carrying out the other purposes of this part, the fund may:

(1)Sue and be sued;

(2)Have a seal and alter it at will;

(3)Make, amend, and repeal rules relating to the conduct of the business of the fund;

(4)Enter into contracts relating to the administration of the fund;

(5)Rent, lease, buy, or sell property in its own name and may construct or repair buildings necessary to provide space for its operations;

(6)Declare a dividend when there is an excess of assets over liabilities, and minimum surplus requirements;

(7)Pay medical expenses, rehabilitation expenses, compensation due claimants of insured employers, pay salaries, and pay administrative and other expenses;

(8)Hire personnel and set salaries and compens

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For purposes of exercising the specific powers granted in this part and carrying out the other purposes of this part, the fund may: (1) Sue and be sued; (2) Have a seal and alter it at will; (3) Make, amend, and repeal rules relating to the conduct of the business of the fund; (4) Enter into contracts relating to the administration of the fund; (5) Rent, lease, buy, or sell property in its own name and may construct or repair buildings necessary to provide space for its operations; (6) Declare a dividend when there is an excess of assets over liabilities, and minimum surplus requirements; (7) Pay medical expenses, rehabilitation expenses, compensation due claimants of insured employers, pay salaries, and pay administrative and other expenses; (8) Hire personnel and set salaries and compensation; and (9) Perform all other functions and exercise all other powers of a domestic insurance company that are necessary, appropriate, or convenient to administer the fund.