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Section 56-16-206 - Advancement of funds for operation — Tennessee Law | CourtGPT
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  4. Title 56 - Insurance (§§ 56-1-101 — 56-61-125)/
  5. Chapter 16 - Exchange or Reciprocal Insurance Act of 1990/
  6. Part 2 - Domestic Reciprocals/
  7. Section 56-16-206 - Advancement of funds for operation
Tennessee Legal Code

Section 56-16-206 - Advancement of funds for operation

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The attorney or other interested persons may advance to a domestic reciprocal any funds required in its operations. The funds advanced shall not be treated as a liability of the reciprocal and shall not be withdrawn or repaid except out of the reciprocal's earned surplus in excess of its minimum required surplus.Acts 1990, ch. 728, § 2; T.C.A. § 56-16-306.