Tennessee Code 56-43-110 – Investments
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Tennessee Code 56-43-110
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Legal insurance: means the assumption of a contractual obligation to provide specified legal services or reimbursement for legal expenses in consideration of a specified payment for an interval of time, regardless of whether the payment is made by the beneficiaries individually or by a third person for them, in such a manner that the total cost incurred by assuming the obligation is to be spread directly or indirectly among a group of persons. See Tennessee Code 56-43-103
- 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
The investable funds generated through the transaction of the business of legal insurance by persons who are not licensed to transact other lines of insurance shall be invested in securities or other investments permitted by the laws of this state for the investment of assets of life insurance.