As used in this chapter, unless the context otherwise requires:

(1) “Certificate of authority” means a legal right granted by the commissioner and enjoyed by a county mutual insurance company to provide insurance as provided for in this chapter;
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Terms Used In Tennessee Code 56-22-103

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Certificate of authority: means a legal right granted by the commissioner and enjoyed by a county mutual insurance company to provide insurance as provided for in this chapter. See Tennessee Code 56-22-103
  • Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-22-103
  • 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.
  • County mutual insurance company: means a person that is authorized to provide insurance coverage pursuant to this chapter. See Tennessee Code 56-22-103
  • Department: means the department of commerce and insurance. See Tennessee Code 56-22-103
  • insurance company: means any corporation, association, partnership or individual engaged as a principal in the business of insurance not licensed pursuant to this chapter. See Tennessee Code 56-22-103
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means an individual, a corporation, a partnership, an association, a joint stock company, a trust, an unincorporated organization, any similar entity or any combination of these acting in concert. See Tennessee Code 56-22-103
  • Premium: means money given in consideration to a county mutual insurance company on account of or in connection with an insurance policy for a specified policy period. See Tennessee Code 56-22-103
(2) “Commissioner” means the commissioner of commerce and insurance;
(3) “County mutual insurance company” means a person that is authorized to provide insurance coverage pursuant to this chapter;
(4) “Department” means the department of commerce and insurance;
(5) “Gross premium” means maximum gross premiums as provided in the policy contracts, new and renewal, including policy or membership fees, whether paid in part or in whole by cash, automatic premium loans, dividends applied in any manner whatsoever, and without deduction or exclusion of dividends in any manner, but excluding premiums returned on cancelled policies, on account of reduction in rates, or reductions in the amount insured;
(6) “Insurer” or “insurance company” means any corporation, association, partnership or individual engaged as a principal in the business of insurance not licensed pursuant to this chapter;
(7) “Person” means an individual, a corporation, a partnership, an association, a joint stock company, a trust, an unincorporated organization, any similar entity or any combination of these acting in concert;
(8) “Policyholder” means a person who is insured by a county mutual insurance company;
(9) “Premium” means money given in consideration to a county mutual insurance company on account of or in connection with an insurance policy for a specified policy period;
(10) “Principal place of business” means the primary office maintained by a county mutual insurance company in the county in which a county mutual insurance company was first granted a certificate of authority; and
(11) “Surplus” means the accumulated assets of a county mutual insurance company that exceed the county mutual insurance company’s accrued losses and expenses.
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