56-14-104 - Surplus lines agent's license. - Tennessee Statutes

56-14-104. Surplus lines agent's license.

(a)  The commissioner may issue a surplus lines license to any authorized agent, which shall grant the agent authority to procure the kinds of insurance provided for in this chapter from companies not licensed in this state under the conditions prescribed in this chapter.

(b)  Every license issued pursuant to this section shall be for a term expiring on December 31 next following the date of issuance, and may be renewed for ensuing periods of twelve (12) months. A license fee in the amount of sixty dollars ($60.00) shall be paid annually to the commissioner in advance.

(c)  Before the license is issued and before each renewal of the license, a written application shall be filed by the applicant in the form the commissioner prescribes.

(d)  As a prerequisite and before the license shall be issued, the applicant shall hold a valid certificate of authority or license from the department authorizing the applicant to write the coverages provided for in this chapter with a company licensed to transact business in this state.

[Acts 1969, ch. 270, § 4; T.C.A., § 56-3804; Acts 2001, ch. 333, § 5.]