Tennessee § 56-15-104 - Conditions for beginning business — Filing charter and statement of assets and liabilities — License.
Full text of Tennessee Tennessee Code Annotated § 56-15-104 — Conditions for beginning business — Filing charter and statement of assets and liabilities — License., with citation guidance and answers to common questions.
§ 56-15-104. Conditions for beginning business — Filing charter and statement of assets and liabilities — License.
Every company, before transacting any business under this chapter, shall deposit with the commissioner a copy of its charter, or articles of incorporation, and a statement, signed and sworn to by its president and secretary, showing its assets and liabilities. If the commissioner is satisfied that the company has authority under its charter to do the business provided for in this chapter, and that it has a paid-up capital of not less than one hundred thousand dollars ($100,000) in cash, or its equivalent, and is able to keep and perform its contracts, the commissioner shall grant authority, in writing, to the company to do business under this chapter. Acts 1895, ch. 175, § 3; Shan., § 2216; mod. Code 1932, § 3948; Acts 1967, ch. 240, § 2; impl. am. Acts 1971, ch. 137, § 2; T.C.A. (orig. ed.), § 56-1404. Compiler's Notes. The licensing provisions of this section may be superseded by the licensing provisions in § 56-2-105 as to writers of surety insurance, including professional bondsmen. See OAG 85-033 (2/8/85). Cross-References. General requirements for doing business, title 56, ch. 2, part 1. Textbooks. Tennessee Jurisprudence, 4 Tenn. Juris., Bail and Recognizance, § 1; 15 Tenn. Juris., Insurance, § 4.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 56-15-104
What does Tennessee Code Annotated § 56-15-104 cover?
Section 56-15-104 ("Conditions for beginning business — Filing charter and statement of assets and liabilities — License.") 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 § 56-15-104?
A common citation format is "Tennessee Code Annotated § 56-15-104" (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 § 56-15-104 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.