Environmental & Healthcare Legislative Watch50 States · D.C. · U.S. Congress
From official state and federal legislative records. Informational only, not legal advice.
Now law
This is now an official law, recorded in the state's law books.
The governor signed it. Nothing left to watch.
In plain words
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Fiscal Summary NOT SIGNIFICANT Bill Summary The Tennessee County Mutual Insurance Company Act of 2006 governs the qualifications and procedures for licensing and general regulatory requirements for county mutual insurance companies insuring risks and property in this state. The Act provides that it is unlawful for any person to enter into a contract of insurance as a county mutual insurance company or transact insurance business in this state as a county mutual insurance company without a certificate of authority provided by the commissioner of commerce and insurance. The Act provides that such a certificate of authority authorizes the county mutual insurance company to insure losses or damage to property, including losses of use and occupancy, by fire, lightning, explosion, windstorm, hail, riot, civil commotion, aircraft, vehicles, collision, extended only to farm machinery, livestock, and other covered farm property, overturn of farm equipment, smoke, glass breakage, theft, vandalism, falling objects, weight of ice, snow or sleet, freezing, sudden and accidental damages caused by discharge or failure of plumbing, heating, air conditioning or automatic sprinkler systems, sudden and accidental tearing apart, cracking, burning or bulging of plumbing, heating, air conditioning or automatic sprinkler systems, sudden and accidental jolts from artificially generated electrical currents to electrical appliances, devices, fixtures and wiring, electrocution, drowning, vicious animals, sinkhole, collapse and volcanic action. However, the Act prohibits a certificate of authority from authorizing a county mutual insurance company to issue a policy of insurance covering those risks described above where the retained amount of risk by the county mutual insurance company on any single risk exceeds the lesser of (i) $20,000, plus 3% of the coun
