In every subscription certificate or descriptive brochure referred to in this chapter:

(1) All printed portions shall be plainly printed in type of which the face is not smaller than ten-point type;
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Terms Used In Tennessee Code 56-31-127

  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Subscription: includes a mark, the name being written near the mark and witnessed. See Tennessee Code 1-3-105
(2) There shall be a brief description of the subscription certificate on its first page and on the back in type not smaller than fourteen-point type. The description shall not be broader than the coverage granted in the contract;
(3) The exceptions of the contract shall appear with the same prominence in the certificate as the benefits of the contract, and reference to the exceptions shall be specifically made in the insuring clause; and
(4) If the contract contains any provisions purporting to make any portion of the articles of incorporation or of the bylaws of the corporation a part of the contract, that portion shall be set forth in full in the subscription certificate.
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