Tenn. Comp. R. & Regs. 0680-01-.14 - REQUEST FOR CHANGE OF CLASSIFICATION OR LIMITATION

(1) Request for Change of Classification or Limitation. Except as otherwise provided in these rules, a licensee may request the Board to consider revision of his classification(s) and/or monetary limitation(s) at any of its regular meetings. Such request shall be made by letter, which shall be accompanied by financial, equipment, and experience statements relative to the classification request accurate as of no more than twelve 12 months prior to the date of the request.

(2) A request for a change in monetary limitation to be less than three million dollars ($3,000,000) shall be reviewed or audited by a licensed accountant or certified public accountant. A request for a change in monetary limitation to more than three million dollars ($3,000,000) shall be audited and attested to by a licensed public accountant or certified public accountant.

(3) The Board reserves the right to require examination pursuant to request for change of classifications. The Board further reserves the right to consider a request for change of classification or limitation at any time, if consideration of the request at the regularly scheduled meeting would cause an undue hardship on the owner and be in the best interest of the public safety and welfare.

(4) Increases within the first year will not be allowed without special permission from the Board.

Notes

Tenn. Comp. R. & Regs. 0680-01-.14

Original rule filed July 22, 1974; effective August 21, 1974. Repeal and new rule filed January 20, 1977; effective February 19, 1977. Amendment filed May 19, 1980; effective July 3, 1980. Amendment filed September 16, 1981; effective November 2, 1981. Amendment filed June 28, 1984; effective July 28, 1984. Amendment filed January 31, 1996; effective April 16, 1996. Amendment filed April 28, 2008; effective July 12, 2008. Amendments filed June 23, 2022; effective 9/21/2022.

Authority: T.C.A. §§ 62-6-108 and 62-6-111.