Tennessee § 56-16-112 Contingent assessment liability of subscriber

Tennessee Statutes

§ 56-16-112 — Contingent assessment liability of subscriber

Tennessee § 56-16-112

Title56

This text of Tennessee § 56-16-112 (Contingent assessment liability of subscriber) 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. § 56-16-112 (2026).

Text

(a)Each subscriber insured under an assessable policy shall have a contingent assessment liability for payment of actual losses and expenses incurred while the subscriber's policy was in force. This shall be in the amount provided for in the power of attorney or subscriber's agreement.

(b)The contingent assessment liability on any one (1) policy in any one (1) calendar year shall equal the premiums earned on the policy for that year multiplied by not less than one (1) nor more than ten (10).

(c)The contingent assessment liability shall not be joint, but shall be individual and several.

(d)Each assessable policy issued by the insurer shall plainly set forth a statement of the contingent assessment liability on the front of the policy in capital letters in no less than ten-point type.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Each subscriber insured under an assessable policy shall have a contingent assessment liability for payment of actual losses and expenses incurred while the subscriber's policy was in force. This shall be in the amount provided for in the power of attorney or subscriber's agreement. (b) The contingent assessment liability on any one (1) policy in any one (1) calendar year shall equal the premiums earned on the policy for that year multiplied by not less than one (1) nor more than ten (10). (c) The contingent assessment liability shall not be joint, but shall be individual and several. (d) Each assessable policy issued by the insurer shall plainly set forth a statement of the contingent assessment liability on the front of the policy in capital letters in no less than ten-point type.