All acquisition and administrative expenses in connection with the hospital service corporations shall at all times be limited after the first year of operation to not exceed twenty-five percent (25%) of the total net premium income of the corporation. All acquisition and administrative expenses shall be subject to the approval of the commissioner.
Structure 2021 Tennessee Code
Chapter 29 - Hospital and Medical Service Corporations
§ 56-29-101. Purpose of Chapter
§ 56-29-102. Corporations Covered by This Chapter
§ 56-29-103. Existing Corporations That May Operate Under This Chapter — Prerequisites
§ 56-29-104. Articles of Incorporation and Amendments — Approval by Commissioner
§ 56-29-107. Application for License — Accompanying Documents — Filing Fee
§ 56-29-108. Issuance of License by Commissioner — Prerequisites
§ 56-29-109. Working Capital Provided by Disinterested Groups or Individuals — Repayment — Interest
§ 56-29-110. Acquisition and Administrative Expenses — Limitation — Approval
§ 56-29-111. Reserve Requirements
§ 56-29-112. Investment of Corporation Funds
§ 56-29-113. Annual Statement — Contents — Filing Fee
§ 56-29-114. Keeping of Adequate Financial and Statistical Records
§ 56-29-115. Examination — Rehabilitation or Liquidation
§ 56-29-117. Submission of Contracts and Schedule of Rates to Commissioner — Disapproval