Insurance agents licensed in this state may charge, receive and collect on the principal balance of unpaid insurance and bond premiums a time-price differential not to exceed the rate now provided for retail merchants under the Retail Installment Sales Act, compiled in title 47, chapter 11:
Structure 2021 Tennessee Code
Chapter 6 - Agents, Solicitors and Administrators
Part 3 - Time-Price Differential Payment of Agents
§ 56-6-301. Charges on Unpaid Balances on Premium Payments — Time-Price Differential
§ 56-6-302. Computation of Time-Price Differential
§ 56-6-303. Written Agreement to Charges — Contents of Contract
§ 56-6-304. Prepayment by Buyer Before Maturity — Refund Credit
§ 56-6-305. Willful Violation a Misdemeanor — Penalty
§ 56-6-306. Transactions Not Loans — Industrial Loan and Thrift Companies Provisions Inapplicable