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2021 Tennessee Code
Title 56 - Insurance
Chapter 13 - Revised Tennessee Captive Insurance Act
Part 4 - Special Purpose Financial Captives
§ 56-13-411. Asset Management Agreements
Universal Citation:
TN Code § 56-13-411 (2021)
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An SPFC may enter into swap agreements, or other forms of asset management agreements, including guaranteed investment contracts, or other transactions that have the objective of leveling timing differences in funding of up-front or ongoing transaction expenses or managing asset, credit, or interest rate risk of the investments to ensure that the investments are sufficient to assure payment or repayment of the securities, and related interest or principal payments, issued pursuant to an SPFC insurance securitization transaction or the obligations of the SPFC under the SPFC contract.
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