Rules & Regulations of the State of Tennessee
Title 0780 - Commerce and Insurance
Subtitle 0780-01 - Insurance Division
Chapter 0780-01-66 - Standards and Commissioner's Authority for Companies deemed to be in Hazardous Financial Condition
Section 0780-01-66-.02 - PURPOSE
Current through September 24, 2024
(1) The purpose of this chapter is to set forth the standards which the Commissioner may use for identifying insurers found to be in such condition as to render the further transaction or continuance of their business hazardous, financially or otherwise, to their policyholders, creditors or the general public.
(2) This chapter is intended to aid in early detection of any potentially dangerous condition in an insurer and to afford prompt application of appropriate corrective measures, thereby implementing express purposes of the Insurers' Rehabilitation and Liquidation Act, T.C.A.§ 56-9-101 et seq.
(3) This chapter shall not be interpreted to limit the powers granted the Commissioner by any laws or parts of laws of this state, nor shall this chapter be interpreted to supersede any laws or parts of laws of this state.
Authority: T.C.A. §§ 56-1-416, 56-1-408, 56-1-409, 56-2-301, 56-9-101 et seq., 56-9-106, 56-9-409, 56-1-417, 56-2-301, 56-9-503, 56-9-508, 56-11-108, 56-11-109, 56-11-206, 56-11-209, 56-11-106, and 2014 Public Acts, Chapter 583.
