Rules & Regulations of the State of Tennessee
Title 0780 - Commerce and Insurance
Subtitle 0780-01 - Insurance Division
Chapter 0780-01-32 - Relating to Exchange- Traded Call Options
Section 0780-01-32-.03 - SALE OF EXCHANGE-TRADED CALL OPTIONS

Universal Citation: TN Comp Rules and Regs 0780-01-32-.03

Current through September 24, 2024

Any domestic insurance company can sell, on an exchange but not otherwise, exchange-traded call options solely with respect to stock which it owns, but cannot sell any other exchange-traded call options. Any domestic insurance company selling such an option:

(a) shall enter into a custodial or escrow agreement which provides that its escrowed stock shall be kept segregated by the bank or other custodian from other stock or other securities owned by others, which are deposited with the same bank or other custodian, and

(b) must obtain and retain in its possession a copy of an escrow receipt identifying with particularity the escrowed stock.

Authority: T.C.A. §§ 56-1-701, 56-3-302, 56-3-303, 56-3-304, 56-19-114, 56-21-104, 56-23-110, and 56-23-111.

Disclaimer: These regulations may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.