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2014 Tennessee Code
Title 56 - Insurance
Chapter 21 - State Mutual Fire Insurance Companies
§ 56-21-101 - Paid-up guaranty capital -- Division into shares.

TN Code § 56-21-101 (2014) What's This?

(a) Any mutual fire insurance company organized under the laws of this state shall have a paid-up guaranty capital of not less than nine hundred fifty thousand dollars ($950,000) divided into shares of not exceeding one hundred dollars ($100) each.

(b) The increase in the minimum amount of guaranty capital provided by the 1969 amendment does not apply to companies qualified and authorized prior to May 7, 1969.

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