Amends TCA Title 4; Title 56 and Title 71.
Tennessee SB0998 amends the Tennessee Code Annotated by increasing the time frame 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 removal of officers or directors as mandated by the commissioner.
Tennessee SB0998 amends the Tennessee Code Annotated by increasing the time frame 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 removal of officers or directors as mandated by the commissioner.
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