Tennessee § 56-20-105 - Limitation on and use of assessments.
Full text of Tennessee Tennessee Code Annotated § 56-20-105 — Limitation on and use of assessments., with citation guidance and answers to common questions.
§ 56-20-105. Limitation on and use of assessments.
The officers of the corporation shall not enter into any contract or agreement, or make any debt of any kind, except for payment of losses or damages as provided in § 56-20-104 , that will require an assessment of more than fifty cents (50¢) on each one hundred dollars ($100) of insurance in force. Neither shall the officers of any such company use for current expenses any money assessed for losses or damages, and all money for the expenses raised by assessment must be so stated in the notices calling for the assessment. Acts 1895, ch. 220, § 6; Shan., § 3359; Code 1932, § 6241; T.C.A. (orig. ed.), § 56-1905.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 56-20-105
What does Tennessee Code Annotated § 56-20-105 cover?
Section 56-20-105 ("Limitation on and use of assessments.") 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 § 56-20-105?
A common citation format is "Tennessee Code Annotated § 56-20-105" (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 § 56-20-105 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.