Section 0780-01-41-.08 - BIOGRAPHICAL AFFIDAVITS AND COMPENSATION(1) Every company shall report to the commissioner within thirty (30) days after any change in its executive officers, managers, or directors, including in its report a biographical affidavit on any individual serving as an executive officer, manager, or director. If a manager is a corporation, trustee, partnership or limited liability company, the report shall include a biographical affidavit from such person or persons who exercise ultimate control over the manager as determined by the commissioner. For good cause shown, the commissioner may waive the requirement for a biographical affidavit under this rule.(2) No director, officer, manager, or employee of a company shall, except on behalf of the company, accept, or be the beneficiary of, any fee, brokerage, gift, or other compensation because of any investment, loan, deposit, purchase, sale, payment or exchange made by or for the company but such person may receive reasonable compensation for necessary services rendered to the company in his or her usual private, professional or business capacityTenn. Comp. R. & Regs. 0780-01-41-.08
Original rule filed September 22, 2017; effective 12/21/2017.Authority: T.C.A. §§ 56-13-101 through 56-13-418, 56-13-108, 56-13-115, and 56-13-121.