Tenn. Comp. R. & Regs. 0780-01-49-.02

Current through October 22, 2024

Section 0780-01-49-.02 - DEFINITIONS

As used in this rule, unless the context otherwise requires:

(1) "Fund" means any accumulation of assets, by pooling arrangements, for the purpose of making payment of claims pursuant to T.C.A. §29-2-401.

(2) "Reserves" means all amounts necessary to discharge the claims obligations of any fund created pursuant to T.C.A. §29-20-401, including losses reported, losses incurred but not reported and all loss adjustment expenses.

(3) "Commissioner" means the Commissioner of Insurance.

(4) "State" means the State of Tennessee.

(5) ''Annual Report'' means an annual financial statement which includes a balance sheet, summary of operations, schedule necessary to identify and enumerate the cash, stocks, bonds, real estate or other assets held by the fund, and a summary of all outstanding loss reserves and loss expense reserves by opinion of an independent casualty actuary.

Tenn. Comp. R. & Regs. 0780-01-49-.02

Original rule filed March 9, 1981; effective April 23, 1981. Amendment filed February 8, 1984; effective March 9, 1984.

Authority: T.C.A. §§ 29-20-401 and 12-9-101.