All licenses authorizing foreign insurance companies to transact their business in the state shall terminate or expire on July 1 next succeeding the date of their issuance, unless sooner revoked by the commissioner.Acts 1903, ch. 442, § 1; 1917, ch. 65, § 1; Shan., § 3302a1; Code 1932, § 6119; Acts 1947, ch. 91, § 1; C. Supp. 1950, § 6119; T.C.A. (orig. ed.), §§ 56-313, 56-235.
Tennessee Legal Code