56-19-107 - Legal existence Bylaws and transaction of business. - Tennessee Statutes

56-19-107. Legal existence Bylaws and transaction of business.

(a)  The company shall have legal existence from and after the date of the certificate of incorporation.

(b)  (1)  The board of directors named in the articles may thereupon adopt bylaws, accept applications for insurance and proceed to transact the business of the company; provided, that no insurance shall be put into force until the company has been licensed to transact insurance as provided by this chapter.

     (2)  The bylaws and any amendments thereto shall within thirty (30) days after adoption be filed with the commissioner.

[Acts 1919, ch. 108, § 5; Shan. Supp., § 3369a58b11; Code 1932, § 6323; T.C.A. (orig. ed.), § 56-1707.]