§ 56-1-401 Examination of companies by commissioner before granting of certificate to do business
§ 56-1-404 Determination of liability upon contracts of insurance on policies other than life for reinsurance
§ 56-1-405 Assets allowable as credits in account of financial condition
§ 56-1-406 Commissioner is custodian of collateral deposited
§ 56-1-407 Valuation of bonds held by insurance companies – Basis
§ 56-1-408 Examination of insurance companies – Frequency
§ 56-1-409 Examination when deemed prudent or requested
§ 56-1-410 Examination of foreign companies
§ 56-1-411 Extent of examination – Report – Hearing – Order – Penalty – Confidentiality of records
§ 56-1-412 Failure to testify before commissioner – Obstruction of examination – Penalty
§ 56-1-413 Expenses of examination – Payment by company examined
§ 56-1-414 Impairment of capital stock of domestic insurance company
§ 56-1-415 Issuance of policies by domestic life insurance companies forbidden when assets are insufficient
§ 56-1-416 Revocation or suspension of certificate of authority
§ 56-1-417 Notice required for revocation or suspension of certificate of authority
§ 56-1-418 Calculation of disability benefit reserves
§ 56-1-419 Statement of actuarial opinion – Summary – Report and work papers – Liability for errors and omissions
§ 56-1-420 Statement of actuarial opinion provided with annual statement and treated as public document – Materials provided in support of opinion that are confidential and privileged – Release of documents – Testimony – Powers of commissioner – Waiver of privilege
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Terms Used In Tennessee Code > Title 56 > Chapter 1 > Part 4 - Financial Valuations and Examination of Companies

  • 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.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-1-102
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • 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.
  • 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
  • Fraud: Intentional deception resulting in injury to another.
  • insurance company: includes all corporations, associations, partnerships, or individuals engaged as principals in the business of insurance. See Tennessee Code 56-1-102
  • 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.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Oath: A promise to tell the truth.
  • Oath: includes affirmation. See Tennessee Code 1-3-105
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • 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
  • Reciprocal: means the aggregation of subscribers under a common name. See Tennessee Code 56-16-102
  • 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
  • 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
  • Subpoena: A command to a witness to appear and give testimony.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Trustee: A person or institution holding and administering property in trust.
  • 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