Amends TCA Title 4; Title 56 and Title 71.
Tennessee HB1080 amends the Tennessee Code Annotated by increasing the timeframe from 30 to 35 days for an insurance company to remove a person as an officer or director following an order from the commissioner of commerce and insurance. This change affects insurance companies operating in Tennessee and their governance structures. The key provision is the extension of the compliance period for such removals, allowing companies additional time to act on the commissioner's orders.
Tennessee HB1080 amends the Tennessee Code Annotated by increasing the timeframe from 30 to 35 days for an insurance company to remove a person as an officer or director following an order from the commissioner of commerce and insurance. This change affects insurance companies operating in Tennessee and their governance structures. The key provision is the extension of the compliance period for such removals, allowing companies additional time to act on the commissioner's orders.
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