Terms Used In Tennessee Code > Title 56 > Chapter 13 > Part 2 - Protected Cell Captive Insurance Companies

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Captive insurance company: means any pure captive insurance company, association captive insurance company, agency captive insurance company, industrial insured captive insurance company, risk retention group, protected cell captive insurance company, incorporated cell captive insurance company, or special purpose financial captive insurance company formed or licensed under this chapter. See Tennessee Code 56-13-102
• Commissioner: means the commissioner of the department, or the commissioner's designee. See Tennessee Code 56-13-102
• 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.
• Department: means the department of commerce and insurance. See Tennessee Code 56-13-102
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• General account: means all assets and liabilities of a protected cell captive insurance company not attributable to a protected cell. See Tennessee Code 56-13-202
• Incorporated cell: means a protected cell of an incorporated cell captive insurance company that is organized as a corporation or other legal entity separate from the incorporated cell captive insurance company. See Tennessee Code 56-13-102
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Organizational documents: means the documents that must be submitted pursuant to title 48 and title 61 in order to legally form a business in this state or to obtain a certificate of authority to transact business in this state. See Tennessee Code 56-13-102
• Oversight: Committee review of the activities of a Federal agency or program.
• Participant: means a person or an entity, authorized to be a participant by §. See Tennessee Code 56-13-202
• Participant contract: means a contract by which a protected cell captive insurance company insures the risks of a participant and limits the losses of each such participant to its pro rata share of the assets of one (1) or more protected cells identified in such participant contract. See Tennessee Code 56-13-202
• Person: means any association, aggregate of individuals, business, company, corporation, individual, joint-stock company, Lloyds-type organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Tennessee Code 56-16-102
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Protected cell: means a separate account established by a protected cell captive insurance company formed or licensed under this chapter, in which an identified pool of assets and liabilities are segregated and insulated by means of this chapter from the remainder of the protected cell captive insurance company's assets and liabilities in accordance with the terms of one (1) or more participant contracts to fund the liability of the protected cell captive insurance company with respect to the participants as set forth in the participant contracts. See Tennessee Code 56-13-202
• Protected cell assets: means all assets, contract rights, and general intangibles identified with and attributable to a specific protected cell of a protected cell captive insurance company. See Tennessee Code 56-13-202
• Protected cell captive insurance company: means any captive insurance company:
  (A) In which the minimum capital and surplus required by this chapter are provided by one (1) or more sponsors. See Tennessee Code 56-13-202
• Protected cell liabilities: means all liabilities and other obligations identified with and attributed to a specific protected cell of a protected cell captive insurance company. See Tennessee Code 56-13-202
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• signed: includes a mark, the name being written near the mark and witnessed, or any other symbol or methodology executed or adopted by a party with intention to authenticate a writing or record, regardless of being witnessed. See Tennessee Code 1-3-105
• Sponsor: means any person or entity that is approved by the commissioner to provide all or part of the capital and surplus required by this chapter and to organize and operate a protected cell captive insurance company. See Tennessee Code 56-13-202
• State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• Trustee: A person or institution holding and administering property in trust.
• United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105