Tennessee § 56-1-404 Determination of liability upon contracts of insurance on policies other than life for reinsurance

Tennessee Statutes

§ 56-1-404 — Determination of liability upon contracts of insurance on policies other than life for reinsurance

Tennessee § 56-1-404

Title56

This text of Tennessee § 56-1-404 (Determination of liability upon contracts of insurance on policies other than life for reinsurance) 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. § 56-1-404 (2026).

Text

To determine the liability upon the contracts of insurance for insurance companies doing business in this state, foreign and domestic, other than life, the commissioner shall require the companies to charge, as the liability for reinsurance of outstanding policies, fifty percent (50%) of the premiums received on policies or risks having not more than one (1) year to run, and a pro rata of all premiums received on policies or risks having more than one (1) year to run.

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To determine the liability upon the contracts of insurance for insurance companies doing business in this state, foreign and domestic, other than life, the commissioner shall require the companies to charge, as the liability for reinsurance of outstanding policies, fifty percent (50%) of the premiums received on policies or risks having not more than one (1) year to run, and a pro rata of all premiums received on policies or risks having more than one (1) year to run.

Legislative History

Acts 1895, ch. 160, § 8; 1897, ch. 37, § 1; Shan., § 3290; Code 1932, § 6105; Acts 1947, ch. 173, § 1; C. Supp. 1950, § 6105; T.C.A. (orig. ed.), § 56-116.