2010 Tennessee Code
Title 56 - Insurance
Chapter 37 - Premium Finance Company Act of 1980
56-37-103 - License required Fees Disclosure Rules and regulations.

56-37-103. License required Fees Disclosure Rules and regulations.

(a)  No person shall engage in the business of a premium finance company in Tennessee without first having obtained a license as a premium finance company from the commissioner.

(b)  (1)  The annual license fee shall be two hundred dollars ($200). Licenses may be renewed from year to year as of July 1 of each year, upon payment of the fee of two hundred dollars ($200). The commissioner may employ persons as necessary to examine or investigate and make reports on alleged violations of this chapter or compliance with the other provisions of this chapter.

     (2)  For the purpose of defraying a portion of the inspection and examination expenses incurred by the commissioner in the administration of this chapter, each registrant shall pay to the commissioner the sum of two hundred dollars ($200) for each office or place of business operated by the registrant; and in addition, at the time of examination, shall pay the actual expenses of the examination. The fees shall be payable in addition to other fees and taxes now required by law and shall be expendable receipts for the use of the commissioner in defraying a portion of the cost of the administration of this chapter.

(c)  The commissioner has the authority, at any time, to require the applicant to disclose fully the identity of all stockholders, partners, officers, and employees, and has discretion to refuse to issue or renew a license in the name of any firm, partnership or corporation if not satisfied that any officer, employee, stockholder or partner thereof who may materially influence the applicant's conduct meets the standards of this chapter.

(d)  The commissioner is authorized to promulgate rules and regulations to effectuate the purposes of this chapter. The rules and regulations shall be promulgated in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.

[Acts 1980, ch. 920, § 3.]