Tennessee § 56-12-115 - Deduction from premium taxes.
Full text of Tennessee Tennessee Code Annotated § 56-12-115 — Deduction from premium taxes., with citation guidance and answers to common questions.
§ 56-12-115. Deduction from premium taxes.
Member insurers assessed a percentage of net direct written premiums for any preceding calendar year, as provided in § 56-12-107(a)(3) , shall be allowed a credit against premium taxes imposed on such member insurers by § 56-4-205 , up to twenty-five percent (25%) of the net premium taxes due in any one (1) calendar year until the aggregate of all assessments paid to the guaranty association has been offset by such premium tax credits. The guaranty association shall certify to the commissioner on an annual basis the names of the member insurers and the assessments paid. The provisions herein are applicable to all insolvencies occurring after April 28, 1975; provided, that only premium taxes paid on and after March 1977, will be subject to credit as herein provided. Acts 1971, ch. 180, § 15; 1975, ch. 63, § 1; T.C.A., § 56-4015. Cross-References. Credit for guaranty fund assessments, § 56-12-119 .
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 56-12-115
What does Tennessee Code Annotated § 56-12-115 cover?
Section 56-12-115 ("Deduction from premium taxes.") 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 § 56-12-115?
A common citation format is "Tennessee Code Annotated § 56-12-115" (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 § 56-12-115 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.