2010 Tennessee Code
Title 56 - Insurance
Chapter 13 - Tennessee Captive Insurance Company Act
56-13-132 - Annual regulatory fees.

56-13-132. Annual regulatory fees.

(a)  The commissioner shall collect from each captive insurance company that has been issued a certificate of authority to engage in insurance business in this state on or after April 1, 1987, the following nonrefundable annual regulatory fees:

     (1)  From each pure captive insurance company, five thousand dollars ($5,000);

     (2)  From each association captive insurance company that is described in § 56-13-102(3)(C) or mutual captive insurance company whose member organizations or insureds are the type member organizations described in § 56-13-102(3)(C), five thousand dollars ($5,000); or

     (3)  From each association captive insurance company, industrial insured captive insurance company, or mutual captive insurance company, other than a company described in subdivision (a)(2), ten thousand dollars ($10,000).

(b)  One half (½) of each regulatory fee shall be collected on March 1, and the balance shall be collected on September 1 of each year, except that the initial regulatory fee collected shall be reduced pro rata to reflect the number of months during the year in which the certificate of authority has been in effect. The regulatory fees paid into the department of commerce and insurance under this section shall be held by the commissioner as expendable receipts for the purpose of administering this chapter.

(c)  All regulatory fees collected from the captive insurance company shall be credited against the total of all premium taxes imposed against the company by § 56-13-128.

[Acts 1987, ch. 298, § 1; 1989, ch. 266, § 8.]