In addition to the paid up capital stock or surplus as required under §§ 56-2-103 and 56-2-114(a), all insurance companies doing business in this state shall possess and maintain bona fide surplus funds in the amount of one million dollars ($1,000,000), except for insurance companies authorized under § 56-2-114(b), which shall possess and maintain bona fide surplus funds equaling in amounts not less than fifty percent (50%) of the capital stock or surplus otherwise required by § 56-2-114(b).
Structure 2021 Tennessee Code
Chapter 2 - Insurance Companies
Part 1 - General Requirements for Doing Business
§ 56-2-101. Applicability to Foreign and Domestic Companies
§ 56-2-105. Certificate of Authority Required — Exceptions
§ 56-2-107. Acts of Unauthorized Insurers Constituting Doing Business in State
§ 56-2-109. No Action to Be Maintained Without Certificate of Authority
§ 56-2-111. Liability for Tax on Gross Premium
§ 56-2-115. Additional Surplus Requirement
§ 56-2-122. Nonprofit Health Maintenance Organization as Subsidiary of Certain Hospital Corporations
§ 56-2-123. Confirmation of Verbal Authorization for Medical Care