Tennessee Code 56-21-109 – Reinsurance reserve – Computation
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Terms Used In Tennessee Code 56-21-109
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Department: means the department of commerce and insurance. See Tennessee Code 56-1-102
When computing reinsurance reserve, policy fees, membership and endorsement fees, all agents’ commissions and salaries of all agents required to have a certificate of authority from the department of commerce and insurance shall be excluded as a part of the premium receipts. The unpaid premiums in the course of collection and the unpaid premium notes of the policyholders not over twelve (12) months due shall be treated as ledger assets.