Tennessee § 56-13-405 - Organization of SPFC.
Full text of Tennessee Tennessee Code Annotated § 56-13-405 — Organization of SPFC., with citation guidance and answers to common questions.
§ 56-13-405. Organization of SPFC.
An SPFC may be established as a stock corporation, limited liability company, mutual, partnership, or other form of organization approved by the commissioner. The SPFC's organizational documents shall limit the SPFC's authority to transact the business of insurance or reinsurance to those activities the SPFC conducts to accomplish its purpose as expressed in this part. The SPFC shall not adopt a name that is the same as, deceptively similar to, or likely to be confused with or mistaken for another existing business name registered in this state. Any name adopted by an SPFC shall comply with titles 48 and 61. An SPFC shall have at least three (3) incorporators or organizers, of whom at least two (2) shall be residents of this state. At least one (1) of the members of the management of the SPFC shall be a resident of this state. An SPFC formed pursuant to this part has the privileges of and is subject to all other requirements of this state's law applicable to its formation, as well as the applicable provisions contained in this part; provided, that this part controls if a conflict exists in this state's law. Acts 2011, ch. 468, § 1.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 56-13-405
What does Tennessee Code Annotated § 56-13-405 cover?
Section 56-13-405 ("Organization of SPFC.") 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 § 56-13-405?
A common citation format is "Tennessee Code Annotated § 56-13-405" (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 § 56-13-405 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.