Tennessee Code 56-16-208 – Assessments – Time limit for paying
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Every subscriber of a domestic reciprocal having contingent assessment liability shall be liable for and shall pay the subscriber’s share of any assessment computed in accordance with § 56-16-207 if, while the policy is in force or within one (1) year after its termination, the subscriber is notified:
Terms Used In Tennessee Code 56-16-208
- Attorney: means the person designated and authorized by subscribers as the attorney-in-fact having authority to obligate them on reciprocal insurance contracts. See Tennessee Code 56-16-102
- Department: means the department of commerce and insurance. See Tennessee Code 56-16-102
- Reciprocal: means the aggregation of subscribers under a common name. See Tennessee Code 56-16-102
- Subscriber: means a person obligated under a reciprocal insurance agreement. See Tennessee Code 56-16-102
- Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105