Section 0780-01-66-.02 - PURPOSE(1) The purpose of this chapter is to set forth the standards which the Commissioner may use for identifying insurers found to be in such condition as to render the further transaction or continuance of their business hazardous, financially or otherwise, to their policyholders, creditors or the general public.(2) This chapter is intended to aid in early detection of any potentially dangerous condition in an insurer and to afford prompt application of appropriate corrective measures, thereby implementing express purposes of the Insurers' Rehabilitation and Liquidation Act, T.C.A.§ 56-9-101 et seq.(3) This chapter shall not be interpreted to limit the powers granted the Commissioner by any laws or parts of laws of this state, nor shall this chapter be interpreted to supersede any laws or parts of laws of this state.Tenn. Comp. R. & Regs. 0780-01-66-.02
Original rule filed December 20, 1993; effective March 5, 1994. Amendment filed August 13, 2014; effective 11/11/2014.Authority: T.C.A. §§ 56-1-416, 56-1-408, 56-1-409, 56-2-301, 56-9-101 et seq., 56-9-106, 56-9-409, 56-1-417, 56-2-301, 56-9-503, 56-9-508, 56-11-108, 56-11-109, 56-11-206, 56-11-209, 56-11-106, and 2014 Public Acts, Chapter 583.