56-28-108 - Acquisition and administrative expenses. - Tennessee Statutes

56-28-108. Acquisition and administrative expenses.

All acquisition and administrative expenses in connection with the hospital service corporation shall at all times be limited after the first year of operation so as not to exceed twenty-five percent (25%) of the total net premium income of the corporation. All acquisition and administrative expenses shall be subject to the approval of the commissioner.

[Acts 1945, ch. 98, § 12; C. Supp. 1950, § 4186.12; T.C.A. (orig. ed.), § 56-3008.]