Tennessee § 56-21-106 - Retirement or liquidation of guaranty capital.
Full text of Tennessee Tennessee Code Annotated § 56-21-106 — Retirement or liquidation of guaranty capital., with citation guidance and answers to common questions.
§ 56-21-106. Retirement or liquidation of guaranty capital.
A mutual fire insurance company may at any time use any surplus over and above all liabilities, including reinsurance reserve, for the purpose of retiring or liquidating any part of its guaranty capital. All of the guaranty capital shall be retired when an amount of net surplus of one million five hundred thousand dollars ($1,500,000) shall have been accumulated. Acts 1907, ch. 461, § 4; Shan., § 3369a10; Acts 1921, ch. 160, § 4; Code 1932, § 6261; Acts 1972, ch. 703, § 1; T.C.A. (orig. ed.), § 56-2008.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 56-21-106
What does Tennessee Code Annotated § 56-21-106 cover?
Section 56-21-106 ("Retirement or liquidation of guaranty capital.") 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 § 56-21-106?
A common citation format is "Tennessee Code Annotated § 56-21-106" (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 § 56-21-106 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.