Tennessee § 56-21-101 - Paid-up guaranty capital — Division into shares.
Full text of Tennessee Tennessee Code Annotated § 56-21-101 — Paid-up guaranty capital — Division into shares., with citation guidance and answers to common questions.
§ 56-21-101. Paid-up guaranty capital — Division into shares.
Any mutual fire insurance company organized under the laws of this state shall have a paid-up guaranty capital of not less than nine hundred fifty thousand dollars ($950,000) divided into shares of not exceeding one hundred dollars ($100) each. The increase in the minimum amount of guaranty capital provided by the 1969 amendment does not apply to companies qualified and authorized prior to May 7, 1969. Acts 1907, ch. 461, § 2; Shan., § 3369a4; Acts 1921, ch. 160, § 2; Code 1932, § 6255; Acts 1969, ch. 218, §§ 2, 6; 1973, ch. 292, § 4; T.C.A. (orig. ed.), § 56-2003. Textbooks. Tennessee Jurisprudence, 15 Tenn. Juris., Insurance, § 111.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 56-21-101
What does Tennessee Code Annotated § 56-21-101 cover?
Section 56-21-101 ("Paid-up guaranty capital — Division into shares.") 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 § 56-21-101?
A common citation format is "Tennessee Code Annotated § 56-21-101" (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 § 56-21-101 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.