Tennessee § 56-21-132 - Guaranty capital — Contingent premiums.
Full text of Tennessee Tennessee Code Annotated § 56-21-132 — Guaranty capital — Contingent premiums., with citation guidance and answers to common questions.
§ 56-21-132. Guaranty capital — Contingent premiums.
All companies operating under this chapter and not maintaining a nine hundred fifty thousand dollar ($950,000) guaranty capital or more and issuing policies providing for a contingent premium equal to and in addition to the regular premium and the contingent liabilities of the policyholders are included as contingent assets of the company, and the inclusion of these contingent assets on a statement of financial condition of the company at any date is required to show admitted assets equal to or greater than the outstanding liabilities, including provision for unearned premiums, the company shall cease to write any contracts of insurance except policies providing insurance against damage by fire, lightning, hail, extended coverage and tornadoes. Acts 1975, ch. 62, § 2; 1977, ch. 202, § 2; T.C.A., § 56-2034.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 56-21-132
What does Tennessee Code Annotated § 56-21-132 cover?
Section 56-21-132 ("Guaranty capital — Contingent premiums.") 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 § 56-21-132?
A common citation format is "Tennessee Code Annotated § 56-21-132" (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 § 56-21-132 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.