The mutual company shall maintain unearned premium and other reserves separately for each kind of insurance, upon the same basis as that required of domestic stock insurance companies transacting the same kind of insurance, and the funds earned by each kind of insurance shall be kept separate and shall not be available to pay losses or expenses incurred by any other kind of insurance; provided, that any reserve for losses or claims based upon the premium income shall be computed upon the net premium income after deducting any so-called dividend or premium returned or credited to the member.
Structure 2021 Tennessee Code
Chapter 19 - Mutual Insurance Companies Other Than Life
§ 56-19-101. Incorporators — Number — Residence Qualifications
§ 56-19-103. Articles of Incorporation — Acknowledgment — Contents
§ 56-19-105. Certificate of Incorporation
§ 56-19-106. Amendment of Articles of Incorporation
§ 56-19-108. Powers of Company — Insurance Contracts — Kinds of Insurance — Reinsurance
§ 56-19-109. License — Conditions Precedent
§ 56-19-110. Policy Provisions
§ 56-19-112. Voting Rights of Members
§ 56-19-114. Investment of Assets
§ 56-19-115. Unearned Premium and Other Reserves — Maintenance
§ 56-19-119. Annual Report — Examination — Information Required
§ 56-19-120. Reinsurance — Restrictions
§ 56-19-121. Resident Agent Not Required
§ 56-19-122. Companies Governed by This Chapter Not Subject to Any Other Law
§ 56-19-123. Violation of Chapter — Penalty — Revocation of License