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2021 Tennessee Code
Title 56 - Insurance
Chapter 18 - Mutual Life Insurance Companies
§ 56-18-115. Existing Contracts Not Affected by Conversion of Stock Life Insurance Company Into Mutual
Universal Citation: TN Code § 56-18-115 (2021)
Neither the retirement of its capital stock nor any other action taken under this chapter shall affect existing suits, rights or contracts of the corporation. Any deposit made by the corporation under any requirement of an applicable statute of this state shall be retained by the commissioner in trust for the benefit and security of all of the policyholders of the corporation.
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