56-6-806 - Use of reinsurance intermediary brokers restricted Financial statements. - Tennessee Statutes

56-6-806. Use of reinsurance intermediary brokers restricted Financial statements.

(a)  An insurer shall not engage the services of any person, firm, association or corporation to act as an RB on its behalf unless the person is licensed as required by § 56-6-803(a).

(b)  An insurer may not employ an individual who is employed by an RB with which it transacts business, unless the RB is under common control with the insurer and subject to chapter 11 of this title.

(c)  The insurer shall annually obtain a copy of a statement of the financial condition of each RB with which it transacts business.

[Acts 1993, ch. 253, § 9.]