Tennessee § 56-7-913 Advisory committee on credit life insurance rates

Tennessee Statutes

§ 56-7-913 — Advisory committee on credit life insurance rates

Tennessee § 56-7-913

Title56

This text of Tennessee § 56-7-913 (Advisory committee on credit life insurance rates) 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. § 56-7-913 (2026).

Text

(a)There is established the advisory committee on credit life insurance rates to be composed of six (6) persons, at least two (2) of whom shall be directly associated with the credit life insurance business. The governor shall appoint the members for staggered six-year terms. The members shall receive no compensation but shall be reimbursed for all travel in accordance with the travel regulations promulgated by the department of finance and administration.

(b)It is the duty of the advisory committee to hold hearings and to recommend the rates for credit life insurance, which levels would be deemed reasonable in relation to the benefits provided. The recommendations must include rates for single life and joint life decreasing term credit life insurance, and single life and joint life leve

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(a) There is established the advisory committee on credit life insurance rates to be composed of six (6) persons, at least two (2) of whom shall be directly associated with the credit life insurance business. The governor shall appoint the members for staggered six-year terms. The members shall receive no compensation but shall be reimbursed for all travel in accordance with the travel regulations promulgated by the department of finance and administration. (b) It is the duty of the advisory committee to hold hearings and to recommend the rates for credit life insurance, which levels would be deemed reasonable in relation to the benefits provided. The recommendations must include rates for single life and joint life decreasing term credit life insurance, and single life and joint life level term credit life insurance. The recommendations shall be by majority vote of the membership of the advisory committee. The department shall provide any personnel, services, information or other assistance requested by the committee as it needs to decide its recommendations. (c) The recommendations on rates shall be filed with the commissioner. The commissioner shall approve rates for credit life insurance after consideration of the recommendations. The decision of the commissioner is appealable to chancery court, where the review shall be de novo upon the record accompanied by the presumption of correctness of the finding, unless the preponderance of the evidence is otherwise.