4-28-107 - Restrictions on insurance companies and their affiliates.
4-28-107. Restrictions on insurance companies and their affiliates.
An insurance company or affiliate of an insurance company shall not, directly or indirectly:
(1) Beneficially own, whether through rights, options, convertible interest or otherwise, fifteen percent (15%) or more of the voting securities or other voting ownership interest of a TNInvestco;
(2) Manage a TNInvestco, other than exercising remedies for default; or
(3) Control the direction of investments for a TNInvestco.
[Acts 2009, ch. 610, § 8.]