Terms Used In Tennessee Code > Title 56 > Chapter 6 > Part 8 - Reinsurance Intermediary Act

• Actuary: means a person who is a member in good standing of the American Academy of Actuaries. See Tennessee Code 56-6-802
• Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-1-102
• Contract: A legal written agreement that becomes binding when signed.
• Controlling person: means any person, firm, association or corporation who directly or indirectly has the power to direct, or cause to be directed, the management, control or activities of the reinsurance intermediary. See Tennessee Code 56-6-802
• 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 56-1-102
• 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.
• Fiduciary: A trustee, executor, or administrator.
• Foreign: when used without limitation, includes all companies formed by authority of any other state or government. See Tennessee Code 56-1-102
• Insurer: means any person, firm, association or corporation duly licensed in this state pursuant to the applicable provisions of this title as an insurer. See Tennessee Code 56-6-802
• Licensed producer: means an agent, broker or reinsurance intermediary licensed pursuant to the applicable provisions of this title. See Tennessee Code 56-6-802
• 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
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• 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
• Reinsurance intermediary: means a reinsurance intermediary broker, or a reinsurance intermediary manager. See Tennessee Code 56-6-802
• Reinsurer: means any person, firm, association or corporation duly licensed in this state pursuant to the applicable provisions of this title as an insurer with the authority to assume reinsurance. See Tennessee Code 56-6-802
• Representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• 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
• To be in violation: means that the reinsurance intermediary, insurer, or reinsurer for whom the reinsurance intermediary was acting failed to substantially comply with this part. See Tennessee Code 56-6-802
• 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
• Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105