Tennessee Code 56-21-104 – Investment of guaranty capital and other assets
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Terms Used In Tennessee Code 56-21-104
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: includes both personal and real property. See Tennessee Code 1-3-105
The capital and other invested assets of the company shall be invested in real estate mortgages or mortgage notes, not exceeding one half (1/2) of the value of the property, or in such other securities as are permitted for investment by domestic stock fire insurance companies.