Section 56-15-114 - Forfeiture of license for nonpayment of judgment

If the company neglects or refuses to pay any final judgment or decree rendered against it upon the recognizance, stipulation, bond or undertaking made or guaranteed by it under this chapter, from which no appeal, writ of error or supersedeas has been taken for thirty (30) days after the rendition of the judgment or decree, it shall forfeit all right to do business in this state.Acts 1895, ch. 175, § 6; Shan., § 2219; mod. Code 1932, § 3951; T.C.A. (orig. ed.), § 56-1414.