A mutual fire insurance company may at any time use any surplus over and above all liabilities, including reinsurance reserve, for the purpose of retiring or liquidating any part of its guaranty capital. All of the guaranty capital shall be retired when an amount of net surplus of one million five hundred thousand dollars ($1,500,000) shall have been accumulated.
Structure 2021 Tennessee Code
Chapter 21 - State Mutual Fire Insurance Companies
§ 56-21-102. Deposit of Securities
§ 56-21-104. Investment of Guaranty Capital and Other Assets
§ 56-21-106. Retirement or Liquidation of Guaranty Capital
§ 56-21-107. Return to Guarantors Upon Retirement or Liquidation of Guaranty Capital
§ 56-21-109. Reinsurance Reserve — Computation
§ 56-21-111. Annual Report to Commissioner — Fee
§ 56-21-114. Policy and Its Prescribed Requisites Constitute the Contract
§ 56-21-115. Regular and Contingent Premium Information in Policy
§ 56-21-117. Policyholder's Liability — Computation as Assets of Company
§ 56-21-118. Extent of Policyholder's Liability
§ 56-21-119. Lien on Insured Property for Premiums and Other Policy Obligations
§ 56-21-120. Action to Collect Premiums or Other Obligation — Costs and Attorney's Fee
§ 56-21-122. Accepting or Rejecting Insurance Shall Not Be Compensated by Commissions on Premiums
§ 56-21-123. Maximum Amounts of Fire Risks Prescribed
§ 56-21-124. Reinsurance of Fire Risks With or for Other Companies
§ 56-21-125. Reinsurance of Excess Fire Risks — Reinsurance in Unauthorized Company — Premium Tax
§ 56-21-126. Reinsurance of Fire Risks to Be Deducted in Determining Limit of Insurance
§ 56-21-127. Premium Rate or Assessment Paid to Reinsuring Company
§ 56-21-128. Regular Policies, Assessments and Premium Rates Apply to Reinsurance
§ 56-21-129. Dividends to Policyholders
§ 56-21-130. Certificate of Authority for Agents — Fee
§ 56-21-131. Conversion of State Mutual Fire Insurance Company to State Stock Fire Insurance Company