Tenn. Comp. R. & Regs. 0780-01-54-.23 - TERMINATION OF CERTIFICATE OF AUTHORITY
(1) A pool wishing
to terminate its certificate of authority and cease operations shall file a
notice of intent to terminate with the Commissioner and its members no later
than ninety (90) days prior to the proposed termination date. A pool shall
accompany this notice with a detailed description of its plan as to how it will
meet all of its outstanding workers' compensation obligations and
liabilities.
(2) The Commissioner
shall not grant the request of any pool to terminate its certificate of
authority until such time as it has demonstrated to the Commissioner that it
has made satisfactory plans to meet all outstanding workers' compensation
obligations and liabilities. Such obligations shall include both known claims
and expenses associated therewith and claims incurred but not reported and
expenses associated therewith.
Notes
Authority: T.C.A. ยงยง 50-6-405(c) and (h).
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