Tennessee § 49-4-105 - Corporations administering plans.
Full text of Tennessee Tennessee Code Annotated § 49-4-105 — Corporations administering plans., with citation guidance and answers to common questions.
§ 49-4-105. Corporations administering plans.
Any five (5) or more persons may, pursuant to title 48, chapters 51-68, form a corporation not for profit for the purpose of establishing, maintaining and operating a plan or plans subject to regulation under this part. Every corporation so organized and licensed under this part shall be deemed to be a charitable and benevolent institution. Each corporation shall have all the powers provided by law for corporations not for profit not inconsistent with this part, but the exercise of such powers shall be subject to the approval of the commissioner where, in the opinion of the commissioner, any such exercise of powers may impair or interfere with the ability of the corporation properly to execute, administer or operate any of the plans approved by the commissioner. The charter of each corporation shall provide for a board of directors of no fewer than seven (7) persons. The dissolution or liquidation of any corporation shall be under the supervision of the commissioner and pursuant to regulations promulgated by the commissioner for the protection of members and trustees of members. The commissioner shall have the same powers in connection with the dissolution or liquidation of the corporation granted the commissioner under the laws respecting the dissolution and liquidation of insurance companies. Acts 1968, ch. 589, §§ 5, 11, 14, 15; impl. am. Acts 1968, ch. 523, § 1 (17.06); T.C.A., §§ 49-4505, 49-4511, 49-4514, 49-4515.
Frequently Asked Questions About Tennessee § 49-4-105
What does Tennessee Code Annotated § 49-4-105 cover?
Section 49-4-105 ("Corporations administering plans.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 49-4-105?
A common citation format is "Tennessee Code Annotated § 49-4-105" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 49-4-105 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.