Section 56-26-119 - False statements in application

The falsity of any statement in the application for any policy covered by this chapter may not bar the right to recovery thereunder unless the false statement materially affected either the acceptance of the risk or hazard assumed by the insurer and then not if the agent taking the application knew of the falsity.Acts 1955, ch. 4, § 6; 1963, ch. 159, § 1; T.C.A., § 56-3319.