12-3-904 - Insurance on public buildings Amount required Deductibles. - Tennessee Statutes

12-3-904. Insurance on public buildings Amount required Deductibles.

All buildings and building contents owned by the state of Tennessee shall be insured for not less than their actual cash value subject to an aggregate deductible of not less than one million five hundred thousand dollars ($1,500,000) and to such individual claim deductible as may be commercially reasonable.

[Acts 1971, ch. 425, § 1; T.C.A., § 12-342; Acts 1980, ch. 464, § 1; T.C.A., § 12-3-504.]