TCA § 56-21-110 — Deposits and investments — Borrowing of funds by officers or committee members prohibited — Director or officer not to take fees for making loans — Penalty
Mutual fire insurance companies covered by this chapter must make deposits and investments in the company’s corporate name, and officers, committee members, directors, and officers may not borrow the funds or take fees or other consideration for loans. Violations are a Class C misdemeanor.
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- Jurisdiction
- United States — Tennessee
- Instrument
- Act or statute
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- Undated source snapshot
- Language
- en
- Official source
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TCA § 56-21-110 — Deposits and investments — Borrowing of funds by officers or committee members prohibited — Director or officer not to take fees for making loans — Penalty
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