Tenn. Comp. R. & Regs. 0780-01-49-.02 - DEFINITIONS
As used in this rule, unless the context otherwise requires:
(1) "Fund " means any
accumulation of assets, by pooling arrangements, for the purpose of making
payment of claims pursuant to T.C.A. §29-2-401.
(2) "Reserves " means all amounts necessary to
discharge the claims obligations of any fund created pursuant to T.C.A.
§29-20-401, including losses reported, losses incurred
but not reported and all loss adjustment expenses.
(3) "Commissioner " means the Commissioner of
Insurance.
(4) "State " means the
State of Tennessee.
(5) ''Annual
Report '' means an annual financial statement which includes a balance sheet,
summary of operations, schedule necessary to identify and enumerate the cash,
stocks, bonds, real estate or other assets held by the fund , and a summary of
all outstanding loss reserves and loss expense reserves by opinion of an
independent casualty actuary.
Notes
Authority: T.C.A. §§ 29-20-401 and 12-9-101.
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