Tennessee § 55-18-105 - Certificate of authority required — Application, contents — Fee — Cash or surety bond — Agent for service of process — Expiration of license.

§ 55-18-105. Certificate of authority required — Application, contents — Fee — Cash or surety bond — Agent for service of process — Expiration of license.

Annually, every automobile club or association organized and/or operating in this state shall file with the commissioner an application for a certificate of authority to continue its operations within the state, and every club or association desiring to commence operations within the state shall, prior to the commencement of its operations, file application with and receive a certificate of authority from the commissioner. No certificate of authority shall be issued until the automobile club or association has paid to the commissioner one hundred seventy-five dollars ($175) as an annual license fee, or the pro rata portion thereof necessary to be paid to the end of the current fiscal year from the date of the application of the license. Licenses shall be issued for the period beginning July 1 of each year and shall expire on the following June 30. The following documents and information shall be filed with the application of all automobile clubs and associations: The sum of ten thousand dollars ($10,000) in cash or securities as approved by the commissioner, or, in lieu thereof, a surety bond payable to the commissioner in the sum of twenty thousand dollars ($20,000), executed by the applicant with surety approved by the commissioner, conditioned upon full compliance with this chapter, and the performance of the obligations of the applicant to its members. Upon receipt of notice of the intended dissolution of the automobile club or association, and upon receipt of evidence satisfactory to the commissioner that all obligations of the club or association to its members have been satisfied, the commissioner shall refund the money or securities and the obligations of the bond shall terminate; Appointment of an agent for service of process who shall be a resident of the state or, in lieu thereof, the commissioner; A copy of the proposed form of membership application, membership certificate, bylaws, contracts for service, advertising material and any other data requested by the commissioner; and References as to the character, ability and integrity of the organizers, manager, agent and any other person through whom the applicant proposes to issue contracts, membership certificates, membership cards, or other documents in return for membership fees or dues. If the commissioner is satisfied that the applicant is qualified and meets all the requirements of this chapter, the commissioner shall issue to the applicant a certificate of authority to conduct the business of the automobile club or association within this state. Acts 1957, ch. 157, § 5; T.C.A., § 59-1805; Acts 2001, ch. 333, § 8; 2010, ch. 1038, § 6. Compiler's Notes. Acts 2001, ch. 333, § 9 provided: “The purpose of this act is to afford the insurance division of the department of commerce and insurance the ability to obtain sufficient staff and resources to adequately implement the provisions of title 56 and title 55, chapter 18, part 1 as related to the regulation of the business of insurance. Notwithstanding any law to the contrary, the increase in revenues generated by passage of this act shall be utilized by the department of commerce and insurance to defray the expenses of improvements to the department's insurance division incurred in the regulation of the business of insurance, including the expenses associated with any improvements to the division deemed necessary from time to time by the commissioner of the department of commerce and insurance. The improvements contemplated by this act shall be in addition to the base level funding appropriated to the insurance division in the fiscal year ending June 30, 2001. The commissioner of commerce and insurance is directed to identify the increase in revenues generated by this act and the expenditures associated with this increase, and annually inform the commissioner of the department of finance and administration of the amount of any unexpended revenues. The commissioner of finance and administration at the close of each fiscal year shall reserve any excess revenues raised by this act and unspent by the department of commerce and insurance, until expended for purposes consistent with this act. Any such funds shall not revert to the general fund on any June 30, and excess revenues shall not revert on any June 30, but shall remain available only for the benefit of the department of commerce and insurance's insurance division.”