56-13-114 - Penalties for failure to file reports and statements. - Tennessee Statutes

56-13-114. Penalties for failure to file reports and statements.

Any captive insurance company that neglects to make and file its annual statement in the form and within the time provided by § 56-13-113 shall forfeit one hundred dollars ($100) for each day neglected, and upon notice by the commissioner to that effect, its authority to do new business shall cease while the default continues.

[Acts 1978, ch. 616, § 15; T.C.A., § 56-4514.]