Rules & Regulations of the State of Tennessee
Title 0780 - Commerce and Insurance
Subtitle 0780-01 - Insurance Division
Chapter 0780-01-41 - Tennessee Captive Insurance Companies
Section 0780-01-41-.10 - REVOCATION OR SUSPENSION OF CAPTIVE LICENSE
Current through September 24, 2024
The commissioner may, subject to the provisions of this rule, by order suspend or revoke the license of the company for any of the following:
(1) At the request of the company; or
(2) For any reason provided in T.C.A. § 56-13-110.
Before the commissioner rescinds the license of a company under (1) or (2), the commissioner shall give the company notice in writing of the grounds on which the commissioner proposes to cancel the license, and shall afford the company an opportunity to make objection in writing within the period of thirty (30) days after receipt of notice. The commissioner shall take into consideration any objection received by the commissioner within that period and, if the commissioner decides to cancel the license, cause the order of cancellation to be served on the company.
Authority: 2011 Public Acts, Chapter 468, T.C.A. §§ 56-13-101 through 56-13-418, 56-13-108, 56-13-110, 56-13-115, and 56-13-121.
