Withdrawal of Guaranty Capital or Securities by Guarantor

  1. Law
  2. Tennessee Code
  3. Insurance
  4. State Mutual Fire Insurance Companies
  5. Withdrawal of Guaranty Capital or Securities by Guarantor

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  1. A guarantor desiring to surrender the guarantor's shares and withdraw the guaranty capital or securities may do so by giving the company ninety (90) days' written notice to that effect; provided, that the withdrawal does not impair the company's guaranty capital below nine hundred fifty thousand dollars ($950,000).
  2. The increase in the minimum amount of guaranty capital provided by the 1969 amendment does not apply to companies qualified and authorized prior to May 7, 1969.


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