Tennessee § 50-6-610 Powers of fund

Tennessee Statutes

§ 50-6-610 — Powers of fund

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.

Tennessee § 50-6-610 (Powers of fund) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.