§ 56-13-207. Application of rehabilitation and liquidation provisions.

TN Code § 56-13-207 (2019) (N/A)
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(a) Except as otherwise provided in this section, chapter 9 of this title shall apply to a protected cell captive insurance company.

(b) Upon any order of supervision, rehabilitation, or liquidation of a protected cell captive insurance company, the receiver shall manage the assets and liabilities of the protected cell captive insurance company pursuant to this part.

(c) Notwithstanding chapter 9 of this title:

(1) No assets of a protected cell shall be used to pay any expenses or claims other than those attributable to such protected cell; and

(2) A protected cell captive insurance company's capital and surplus shall at all times be available to pay any expenses of or claims against the protected cell captive insurance company.