Powers of Fund

  1. Law
  2. Tennessee Code
  3. Employer and Employee
  4. Workers' Compensation Law
  5. Workers' Compensation Insurance Fund Act of 1992
  6. Powers of Fund

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For purposes of exercising the specific powers granted in this part and carrying out the other purposes of this part, the fund may:

  1. Sue and be sued;
  2. Have a seal and alter it at will;
  3. Make, amend, and repeal rules relating to the conduct of the business of the fund;
  4. Enter into contracts relating to the administration of the fund;
  5. Rent, lease, buy, or sell property in its own name and may construct or repair buildings necessary to provide space for its operations;
  6. Declare a dividend when there is an excess of assets over liabilities, and minimum surplus requirements;
  7. Pay medical expenses, rehabilitation expenses, compensation due claimants of insured employers, pay salaries, and pay administrative and other expenses;
  8. Hire personnel and set salaries and compensation; and
  9. Perform all other functions and exercise all other powers of a domestic insurance company that are necessary, appropriate, or convenient to administer the fund.


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