Tennessee § 56-2-411 Citizens procuring insurance with foreign companies - Liability for taxes

Tennessee Statutes

§ 56-2-411 — Citizens procuring insurance with foreign companies - Liability for taxes

Tennessee § 56-2-411

Title56

This text of Tennessee § 56-2-411 (Citizens procuring insurance with foreign companies - Liability for taxes) 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. § 56-2-411 (2026).

Text

(a)Under §§ 56-2-409 , 56-2-410 , and this section are also included citizens of this state procuring and holding insurance contracts or policies on the types of coverage listed in § 56-2-201 upon property situated or located in this state in companies not authorized to transact business in this state.

(b)The procuring or accepting policies or contracts of the insurance from unauthorized companies or associations makes every citizen of this state, including industrial insureds as defined in § 56-2-105(7) , holding the contracts or policies liable for taxes, the same as if procured through a surplus lines agent. The taxes shall be paid at the same time, in the same manner, and at the same rate as the tax levied on surplus lines insurance in §§ 56-14-106 and 56-14-113 .

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

(a) Under §§ 56-2-409 , 56-2-410 , and this section are also included citizens of this state procuring and holding insurance contracts or policies on the types of coverage listed in § 56-2-201 upon property situated or located in this state in companies not authorized to transact business in this state. (b) The procuring or accepting policies or contracts of the insurance from unauthorized companies or associations makes every citizen of this state, including industrial insureds as defined in § 56-2-105(7) , holding the contracts or policies liable for taxes, the same as if procured through a surplus lines agent. The taxes shall be paid at the same time, in the same manner, and at the same rate as the tax levied on surplus lines insurance in §§ 56-14-106 and 56-14-113 .

Legislative History

Amended by 2016 Tenn. Acts, ch. 735, s 3, eff. 4/7/2016. Amended by 2015 Tenn. Acts, ch. 155, s 3, eff. 4/17/2015. Acts 1899, ch. 430, § 5; Shan., § 3369a63; Code 1932, § 6345; T.C.A. (orig. ed.), §§ 56-318, 56-240.