55-22-104 - Conditions for granting license. - Tennessee Statutes

55-22-104. Conditions for granting license.

(a)  No license shall be issued for the operation or conduct of any track or other place unless the applicant has insurance for the general public approved by the commissioner of commerce and insurance with minimum limits of one hundred thousand dollars ($100,000) per person and three hundred thousand dollars ($300,000) per accident or three hundred thousand dollars ($300,000) combined single limit, for loss because of bodily injury, including death, at any time resulting therefrom caused to any person or persons by the operation of the track or other place; provided, that this insurance shall not be applicable to:

     (1)  Drivers;

     (2)  Pit area personnel;

     (3)  All persons involved in the conduct of any motor vehicle race; or

     (4)  Any persons involved with the race who have signed a written release of liability.

(b)  Satisfaction by the insured of a final judgment for injury shall not be a condition precedent to the duty of the insurer to make payment on account of the injury.

[Acts 1968, ch. 534, § 4; impl. am. Acts 1971, ch. 137, § 2; T.C.A., §§ 59-2304, 66-404.]