Terms Used In Tennessee Code > Title 56 > Chapter 46 - Risk-Based Capital

• Adjusted RBC Report: means an RBC report that has been adjusted by the commissioner in accordance with §. See Tennessee Code 56-46-102
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authorized Control Level RBC: means the number determined under the risk-based capital formula in accordance with the RBC Instructions. See Tennessee Code 56-46-201
• Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-1-102
• Company Action Level RBC: means , with respect to any insurer, the product of 2. See Tennessee Code 56-46-102
• 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.
• Corrective order: means an order issued by the commissioner specifying corrective actions that the commissioner has determined are required. See Tennessee Code 56-46-102
• Corrective order: means an order issued by the commissioner specifying corrective actions which the commissioner has determined are required. See Tennessee Code 56-46-201
• Court: means any court having jurisdiction to hear matters concerning guardians or conservators. See Tennessee Code 34-1-101
• Department: means the department of commerce and insurance. See Tennessee Code 56-1-102
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Domestic health organization: means a health organization domiciled in this state. See Tennessee Code 56-46-201
• Domestic insurer: means any insurance company domiciled in Tennessee. See Tennessee Code 56-46-102
• 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.
• Foreign: when used without limitation, includes all companies formed by authority of any other state or government. See Tennessee Code 56-1-102
• Foreign health organization: means a health organization that is licensed to do business in this state under chapters 27, 28, 30, 31, 32 and 51 of this title but is not domiciled in this state. See Tennessee Code 56-46-201
• Foreign insurer: means any insurance company that is licensed to do business in Tennessee under this title but is not domiciled in Tennessee. See Tennessee Code 56-46-102
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Health organization: means a health maintenance organization, limited health service organization, dental or vision plan, hospital, medical and dental indemnity or service corporation, or other managed care organization licensed pursuant to chapters 27, 28, 30, 31, 32 and 51 of this title. See Tennessee Code 56-46-201
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Mandatory Control Level RBC: means the product of 0. See Tennessee Code 56-46-201
• Mandatory Control Level RBC: means the product of 0. See Tennessee Code 56-46-102
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• NAIC: means the National Association of Insurance Commissioners. See Tennessee Code 56-46-201
• NAIC: means the National Association of Insurance Commissioners. See Tennessee Code 56-46-102
• Negative trend: means , with respect to a life and/or health insurer, negative trend over a period of time, as determined in accordance with the "Trend Test Calculation" included in the RBC Instructions. See Tennessee Code 56-46-102
• 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
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Property and casualty insurer: means any insurance company licensed in those lines in Tennessee, but does not include monoline mortgage guaranty insurers, financial guaranty insurers and title insurers. See Tennessee Code 56-46-102
• RBC Instructions: means the RBC Report including risk-based capital instructions adopted by the NAIC, as the RBC Instructions may be amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC. See Tennessee Code 56-46-102
• RBC instructions: means the RBC report including risk-based capital instructions adopted by the NAIC, as these RBC instructions may be amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC. See Tennessee Code 56-46-201
• RBC Plan: means a comprehensive financial plan containing the elements specified in §. See Tennessee Code 56-46-102
• RBC plan: means a comprehensive financial plan containing the elements specified in §. See Tennessee Code 56-46-201
• RBC Report: means the report required in §. See Tennessee Code 56-46-102
• RBC report: means the report required in §. See Tennessee Code 56-46-201
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
• Regulatory Action Level RBC: means the product of 1. See Tennessee Code 56-46-102
• Regulatory Action Level RBC: means the product of 1. See Tennessee Code 56-46-201
• Respondent: means a person who is a minor or is alleged to be a person with a disability for whom a fiduciary is being sought. See Tennessee Code 34-1-101
• 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
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Testify: Answer questions in court.
• Total adjusted capital: means the sum of:
  (A) An insurer's statutory capital and surplus as determined in accordance with the statutory accounting applicable to the annual financial statements required to be filed pursuant to §. See Tennessee Code 56-46-102
• Total adjusted capital: means the sum of:
  (A) A health organization's statutory capital and surplus, also known as net worth, as determined in accordance with the statutory accounting applicable to the annual financial statements required to be filed under §. See Tennessee Code 56-46-201
• Trend Test Calculation: include d in the RBC Instructions. See Tennessee Code 56-46-102
• written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
• Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105