Terms Used In Tennessee Code > Title 56 > Chapter 14 > Part 1 - Surplus Lines Insurance Act

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Affiliated group: means a group of entities in which each entity, with respect to an insured, controls the insured, is controlled by the insured, or is under common control with the insured. See Tennessee Code 56-14-102
• Attorney: means the person designated and authorized by subscribers as the attorney-in-fact having authority to obligate them on reciprocal insurance contracts. See Tennessee Code 56-16-102
• Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-14-102
• Contract: A legal written agreement that becomes binding when signed.
• Control: means :
  (A) To own, control, or have the power of an entity directly, indirectly, or acting through one or more other persons to vote twenty-five percent (25%) or more of any class of voting securities of another entity. See Tennessee Code 56-14-102
• Department: means the department of commerce and insurance. See Tennessee Code 56-14-102
• 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.
• Exempt commercial purchaser: means any person purchasing commercial insurance that, at the time of placement, meets the following requirements:
  (i) The person employs or retains a qualified risk manager to negotiate insurance coverage. See Tennessee Code 56-14-102
• Foreign: when used without limitation, includes all companies formed by authority of any other state or government. See Tennessee Code 56-1-102
• home state: means the home state, as determined pursuant to subdivision (9)(A), of the member of the affiliated group that has the largest percentage of premium attributed to it under such insurance contract. See Tennessee Code 56-14-102
• 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.
• Month: means a calendar month. See Tennessee Code 1-3-105
• Nonadmitted insurer: means , with respect to a state, an insurer not licensed to engage in the business of insurance in such state. See Tennessee Code 56-14-102
• Oversight: Committee review of the activities of a Federal agency or program.
• 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
• Qualified risk manager: means , with respect to a policyholder of commercial insurance, a person who meets the following requirements:
  (A) The person is an employee of, or third-party consultant retained by, the commercial policyholder. See Tennessee Code 56-14-102
• Reciprocal: means the aggregation of subscribers under a common name. See Tennessee Code 56-16-102
• 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
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Service of process: The service of writs or summonses to the appropriate party.
• State: includes any state in the United States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, the Virgin Islands, and American Samoa. See Tennessee Code 56-14-102
• Surplus lines agent: means an agent who is licensed under chapter 6, part 1 of this title who is granted a surplus lines license in accordance with this chapter. See Tennessee Code 56-14-102
• surplus lines insurance: means any insurance coverage permitted by §. See Tennessee Code 56-14-102
• Surplus lines insurer: means an unauthorized company in which a nonadmitted insurance coverage is placed or may be placed under this chapter. See Tennessee Code 56-14-102
• Trustee: A person or institution holding and administering property in trust.
• unauthorized company: means an insurance company not licensed to transact business in this state under this title. See Tennessee Code 56-14-102
• United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• Writing agent: means the licensed insurance agent who accepts the application for nonadmitted insurance directly or indirectly from the prospective insured. See Tennessee Code 56-14-102
• 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