A reciprocal may return to its present or past subscribers, or both, any savings or credits accruing to their accounts. The distribution shall not unfairly discriminate between classes of risks or policies, or between subscribers. However, the distribution may vary for classes of subscribers based upon the experience of those classes.
Structure 2021 Tennessee Code
Chapter 16 - Exchange or Reciprocal Insurance Act of 1990
Part 1 - Exchange or Reciprocal Insurance
§ 56-16-103. Licensed Reciprocal Authorized to Write Certain Classes of Insurance
§ 56-16-106. Business Name — Requirements
§ 56-16-108. Foreign Reciprocals — Licensing Requirements
§ 56-16-109. Attorney for Foreign Reciprocal — Residence and Principal Office
§ 56-16-110. Attorney for Foreign Reciprocal — Execution of Contracts
§ 56-16-111. Agent for Reciprocal — License Required — Appointment
§ 56-16-114. Return of Savings or Credits to Subscribers — Distribution
§ 56-16-115. Maintenance of Reserves — Requirements
§ 56-16-118. Judgment Against Reciprocal — Effect
§ 56-16-119. Service on Board of Directors by Persons Who Perform Legal or Professional Service