Tennessee Statutes
§ 56-6-116 — Fiduciary duty
Tennessee·Title 56
Any money that an insurance producer receives for soliciting, negotiating or selling insurance shall be held in a fiduciary capacity, and shall not be misappropriated, converted or improperly withheld. Any violation of this section shall be considered grounds for the denial, suspension, or revocation of the insurance producer's license and shall subject the insurance producer to the sanctions and penalties set forth under § 56-6-112 .
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Legislative History
Acts 2002, ch. 798, § 17.
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