Tenn. Code Ann. § 56-2-116
This is the official text of Tenn. Code Ann. § 56-2-116, part of Tennessee’s Code Ann — part of the compiled statutory law of Tennessee, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Exemption of previously licensed companies - Termination of exemption for foreign insurance companies
Official statutory text
(a) No requirement of §§ 56-2-101 - 56-2-103, 56-2-113 - 56-2-115, 56-2-201, and 56-2-301 not in effect on March 1, 1986, shall be considered applicable to any insurance company properly licensed to transact business in this state on that date. (b) Notwithstanding subsection (a), any foreign insurance company filing an annual statement under § 56-1-501 , not possessing the minimum capital and surplus required by §§ 56-2-114 and 56-2-115 on and after January 1, 1987, shall cease to write any new business until the minimum capital and surplus required are met. (c) Subsection (b) shall not apply to the procedures and capital requirements of a casualty company for the exclusive purpose of writing bonds only. (d) Any domestic insurer otherwise exempt under subsection (a) that at any time meets the capital and surplus requirements under this chapter shall thereafter be required to maintain the required capital and surplus limits. Acts 1955, ch. 13, § 6 (T.C.A. (supp.), § 56-322); 1967, ch. 31, § 6; 1977, ch. 127, §§ 1, 2; T.C.A, § 56-217; Acts 1986, ch. 535, §§ 3-5.
(a) No requirement of §§ 56-2-101 - 56-2-103, 56-2-113 - 56-2-115, 56-2-201, and 56-2-301 not in effect on March 1, 1986, shall be considered applicable to any insurance company properly licensed to transact business in this state on that date.
(b) Notwithstanding subsection (a), any foreign insurance company filing an annual statement under § 56-1-501 , not possessing the minimum capital and surplus required by §§ 56-2-114 and 56-2-115 on and after January 1, 1987, shall cease to write any new business until the minimum capital and surplus required are met.
(c) Subsection (b) shall not apply to the procedures and capital requirements of a casualty company for the exclusive purpose of writing bonds only.
(d) Any domestic insurer otherwise exempt under subsection (a) that at any time meets the capital and surplus requirements under this chapter shall thereafter be required to maintain the required capital and surplus limits.
Acts 1955, ch. 13, § 6 (T.C.A. (supp.), § 56-322); 1967, ch. 31, § 6; 1977, ch. 127, §§ 1, 2; T.C.A, § 56-217; Acts 1986, ch. 535, §§ 3-5.
(a) No requirement of §§ 56-2-101 - 56-2-103, 56-2-113 - 56-2-115, 56-2-201, and 56-2-301 not in effect on March 1, 1986, shall be considered applicable to any insurance company properly licensed to transact business in this state on that date.
(b) Notwithstanding subsection (a), any foreign insurance company filing an annual statement under § 56-1-501 , not possessing the minimum capital and surplus required by §§ 56-2-114 and 56-2-115 on and after January 1, 1987, shall cease to write any new business until the minimum capital and surplus required are met.
(c) Subsection (b) shall not apply to the procedures and capital requirements of a casualty company for the exclusive purpose of writing bonds only.
(d) Any domestic insurer otherwise exempt under subsection (a) that at any time meets the capital and surplus requirements under this chapter shall thereafter be required to maintain the required capital and surplus limits.
Acts 1955, ch. 13, § 6 (T.C.A. (supp.), § 56-322); 1967, ch. 31, § 6; 1977, ch. 127, §§ 1, 2; T.C.A, § 56-217; Acts 1986, ch. 535, §§ 3-5.
Status: in_force
Need a lawyer in Tennessee?
Find a Tennessee lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.