Foreign Insurers or Health Maintenance Organizations
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Solely for purposes of this part, a foreign insurer or foreign health maintenance organization that participates in the TennCare program under Title XIX of the Social Security Act (42 U.S.C. § 1396 et seq.), or any successor to the TennCare program is deemed to be a domestic insurer, and shall comply with any provisions of this part that apply to domestic insurers.
The confidentiality provisions of § 56-11-108 shall apply to all foreign insurers and foreign health maintenance organizations subject to this part pursuant to this section to the same and full extent as they apply to domestic insurers.
The commissioner shall have the authority to waive any portion of this part for such a foreign insurer or foreign health maintenance organization subject to this part pursuant to this section upon a determination that the foreign insurer or foreign health maintenance organization is subject to holding company requirements and standards adopted by statute or regulation in the jurisdiction of its domicile which are substantially similar to those contained in this part. The decision whether to exercise any authority under this subsection (c) is in the sole discretion of the commissioner.
A foreign insurer or foreign health maintenance organization deemed to be a domestic insurer under this section shall be considered a domestic insurer for the purposes of this part and shall not be considered a domestic insurer for any other purposes under this chapter, unless otherwise expressly stated.