Rules & Regulations of the State of Tennessee
Title 0780 - Commerce and Insurance
Subtitle 0780-01 - Insurance Division
Chapter 0780-01-51 - Guidelines to be by Insurance Companies, Insurance Agencies, Insurance Agents and Financial Sharing a Retail Area
Section 0780-01-51-.04 - PHYSICAL FACILITIES
Current through September 24, 2024
Any arrangement between an agent or insurer and a financial institution pursuant to which the agent or insurer shares space in the retail area of the financial institution is subject to the following conditions:
(1) All signs displayed in connection with the operation of the insurer, agent, or agency shall have no indication of any relationship with the financial institution. Further, there shall be no signs displayed in connection with the operation of the insurer, agent, or agency in the retail area of the financial institution, other than in the direct vicinity of the insurance sales area.
(2) The space occupied by the agent or insurer must be situated and sufficiently segregated in the retail area of the financial institution to insulate customers of the financial institution who have applied for or obtained credit from express or implied intimidation or interference with the customers' free choice regarding the purchase of insurance. Accordingly, employees of the financial institution may not be positioned, in relation to the space occupied by the agent or insurer, so as to allow regular observance by financial institution customers transacting business within the space occupied by the agent or insurer. The layouts of bank lobbies will differ depending on the size of the institution. Therefore, different means may be necessary to effect sufficient separation in each lobby.
Authority: T.C.A. §§ 56-6-127 and 56-8-113.
