Section 0780-01-76-.07 - INVESTMENTSA self-funded qualified multiple employer welfare arrangement shall maintain an amount at least equal to eighty-five percent (85%) of its net admitted assets on a statutory basis in the following:
(1) Cash and cash equivalents;(2) The fully insured portion of a bank deposit when the insurance is provided by a solvent agency of the United States government or by collateral;(3) A certificate of deposit issued by a bank or other financial institution whose deposits qualify for Federal Deposit Insurance Corporation protection; provided, if the Commissioner determines that the amount of the certificate of deposit purchased by an insurer in any one bank is not a sound investment, the Commissioner may require the insurer to liquidate that portion found to be an unsound investment;(4) A share of savings account of a savings and loan or building and loan association, to the extent that an account is insured by the Federal Deposit Insurance Corporation; or(5) A rated credit instrument that is issued, assumed, guaranteed, or insured by the United States or Canada or by a government-sponsored enterprise of the United States or Canada if the instrument is assumed, guaranteed, or insured by the United States or Canada or is otherwise backed or supported by the full faith and credit of the United States or Canada.Tenn. Comp. R. & Regs. 0780-01-76-.07
Original rule filed April 14, 2004; effective June 28, 2004.Authority: T.CA. § 56-26-204(b).