Tennessee Code 56-42-111 – Penalties
Current as of: 2024 | Check for updates
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Terms Used In Tennessee Code 56-42-111
- Long-term care insurance: includes group and individual annuities and life insurance policies or riders that provide directly or supplement long-term care insurance. See Tennessee Code 56-42-103
- Policy: means any policy, contract, subscriber agreement, rider or endorsement delivered or issued for delivery in this state by an insurer, fraternal benefit society, nonprofit health, hospital or medical service corporation, prepaid health plan, health maintenance organization or any similar organization. See Tennessee Code 56-42-103
- 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
In addition to any other penalties provided by the laws of this state, any insurer and any producer found to have violated any requirement of this state relating to the regulation of long-term care insurance or the marketing of long-term care insurance shall be subject to a civil penalty of up to three (3) times the amount of any commissions paid for each policy involved in the violation or up to ten thousand dollars ($10,000), whichever is greater.