Tenn. Code Ann. § 56-2-411
This is the official text of Tenn. Code Ann. § 56-2-411, 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.
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Citizens procuring insurance with foreign companies - Liability for taxes
Official statutory text
(a) Under §§ 56-2-409 , 56-2-410 , and this section are also included citizens of this state procuring and holding insurance contracts or policies on the types of coverage listed in § 56-2-201 upon property situated or located in this state in companies not authorized to transact business in this state. (b) The procuring or accepting policies or contracts of the insurance from unauthorized companies or associations makes every citizen of this state, including industrial insureds as defined in § 56-2-105(7) , holding the contracts or policies liable for taxes, the same as if procured through a surplus lines agent. The taxes shall be paid at the same time, in the same manner, and at the same rate as the tax levied on surplus lines insurance in §§ 56-14-106 and 56-14-113 . Amended by 2016 Tenn. Acts, ch. 735, s 3, eff. 4/7/2016. Amended by 2015 Tenn. Acts, ch. 155, s 3, eff. 4/17/2015. Acts 1899, ch. 430, § 5; Shan., § 3369a63; Code 1932, § 6345; T.C.A. (orig. ed.), §§ 56-318, 56-240.
(a) Under §§ 56-2-409 , 56-2-410 , and this section are also included citizens of this state procuring and holding insurance contracts or policies on the types of coverage listed in § 56-2-201 upon property situated or located in this state in companies not authorized to transact business in this state.
(b) The procuring or accepting policies or contracts of the insurance from unauthorized companies or associations makes every citizen of this state, including industrial insureds as defined in § 56-2-105(7) , holding the contracts or policies liable for taxes, the same as if procured through a surplus lines agent. The taxes shall be paid at the same time, in the same manner, and at the same rate as the tax levied on surplus lines insurance in §§ 56-14-106 and 56-14-113 .
Amended by 2016 Tenn. Acts, ch. 735, s 3, eff. 4/7/2016.
Amended by 2015 Tenn. Acts, ch. 155, s 3, eff. 4/17/2015.
Acts 1899, ch. 430, § 5; Shan., § 3369a63; Code 1932, § 6345; T.C.A. (orig. ed.), §§ 56-318, 56-240.
(a) Under §§ 56-2-409 , 56-2-410 , and this section are also included citizens of this state procuring and holding insurance contracts or policies on the types of coverage listed in § 56-2-201 upon property situated or located in this state in companies not authorized to transact business in this state.
(b) The procuring or accepting policies or contracts of the insurance from unauthorized companies or associations makes every citizen of this state, including industrial insureds as defined in § 56-2-105(7) , holding the contracts or policies liable for taxes, the same as if procured through a surplus lines agent. The taxes shall be paid at the same time, in the same manner, and at the same rate as the tax levied on surplus lines insurance in §§ 56-14-106 and 56-14-113 .
Amended by 2016 Tenn. Acts, ch. 735, s 3, eff. 4/7/2016.
Amended by 2015 Tenn. Acts, ch. 155, s 3, eff. 4/17/2015.
Acts 1899, ch. 430, § 5; Shan., § 3369a63; Code 1932, § 6345; T.C.A. (orig. ed.), §§ 56-318, 56-240.
Status: in_force
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