Tennessee § 56-6-809 - Transactions between intermediaries.
Full text of Tennessee Tennessee Code Annotated § 56-6-809 — Transactions between intermediaries., with citation guidance and answers to common questions.
§ 56-6-809. Transactions between intermediaries.
A reinsurer shall not engage the services of any person, firm, association or corporation to act as an RM on its behalf unless the person is licensed as required by § 56-6-803(a). The reinsurer shall annually obtain a copy of statements of the financial condition of each RM that the reinsurer has engaged prepared by an independent certified accountant in a form acceptable to the commissioner. If an RM establishes loss reserves, the reinsurer shall annually obtain the opinion of an actuary attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the RM. This opinion shall be in addition to any other required loss reserve certification. Binding authority for all retrocessional contracts of participation in reinsurance syndicates shall rest with an officer of the reinsurer who shall not be affiliated with the RM. Within thirty (30) days of termination of a contract with an RM, the reinsurer shall provide written notification of the termination to the commissioner. A reinsurer shall not appoint to its board of directors any officer, director, employee, controlling shareholder or subproducer of its RM. This subsection (f) shall not apply to relationships governed by chapter 11 of this title. Acts 1993, ch. 253, § 9.
Frequently Asked Questions About Tennessee § 56-6-809
What does Tennessee Code Annotated § 56-6-809 cover?
Section 56-6-809 ("Transactions between intermediaries.") 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 § 56-6-809?
A common citation format is "Tennessee Code Annotated § 56-6-809" (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 § 56-6-809 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.