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2021 Tennessee Code
Title 56 - Insurance
Chapter 15 - Fidelity and Bonding Companies
§ 56-15-115. Noncompliance With Chapter — Penalty
Universal Citation: TN Code § 56-15-115 (2021)
A company that fails to comply with §§ 56-15-102 — 56-15-107 and 56-15-112 — 56-15-114, shall forfeit to the state, for every failure, not less than five hundred dollars ($500) nor more than five thousand dollars ($5,000), to be recovered by suit in the name of the state of Tennessee, in the same courts in which suit may be brought against the company under this chapter, and the failure shall not affect the validity of any contract entered into by the company.
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