Prior to the issuance of bonds to pay covered claims in the event of an insolvency, the commissioner of commerce and insurance shall recommend the amount of unpaid covered claims to be paid from the bond issuance. In making its recommendation, the commissioner shall review whether the amount of assessments proposed by the association could service repayment of the bond indebtedness and whether the insurers have the ability to pay the assessments to be levied.
Structure 2021 Tennessee Code
Chapter 31 - Tennessee Local Development Authority Act
Part 8 - Tennessee Insurance Guaranty Association Bond Act of 1995
§ 4-31-802. Legislative Findings and Declarations
§ 4-31-804. Issuance of Bonds — Limitations on Bond Amounts — Source of Funds
§ 4-31-805. Review by Commissioner of Commerce and Insurance
§ 4-31-806. Negotiable Bonds and Notes