Tennessee § 50-6-610 - Powers of fund.

§ 50-6-610. Powers of fund.

For purposes of exercising the specific powers granted in this part and carrying out the other purposes of this part, the fund may: Sue and be sued; Have a seal and alter it at will; Make, amend, and repeal rules relating to the conduct of the business of the fund; Enter into contracts relating to the administration of the fund; Rent, lease, buy, or sell property in its own name and may construct or repair buildings necessary to provide space for its operations; Declare a dividend when there is an excess of assets over liabilities, and minimum surplus requirements; Pay medical expenses, rehabilitation expenses, compensation due claimants of insured employers, pay salaries, and pay administrative and other expenses; Hire personnel and set salaries and compensation; and Perform all other functions and exercise all other powers of a domestic insurance company that are necessary, appropriate, or convenient to administer the fund. Acts 1992, ch. 900, § 26.