Tennessee § 56-9-306 Grounds for order of liquidation

Tennessee Statutes

§ 56-9-306 — Grounds for order of liquidation

Tennessee § 56-9-306

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This text of Tennessee § 56-9-306 (Grounds for order of liquidation) 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. § 56-9-306 (2026).

Text

The commissioner may petition the chancery court of Davidson County for an order directing the commissioner to liquidate a domestic insurer or an alien insurer domiciled in this state on the basis:

(1)Of any ground for an order of rehabilitation as specified in § 56-9-301 , whether or not there has been a prior order directing the rehabilitation of the insurer;

(2)That the insurer is insolvent; or (3) That the insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors or the public.

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The commissioner may petition the chancery court of Davidson County for an order directing the commissioner to liquidate a domestic insurer or an alien insurer domiciled in this state on the basis: (1) Of any ground for an order of rehabilitation as specified in § 56-9-301 , whether or not there has been a prior order directing the rehabilitation of the insurer; (2) That the insurer is insolvent; or (3) That the insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors or the public.