# Tenn. Code Ann. § 56-2-102: Requisites for commencing business - Foreign insurance companies qualifying as domestic corporations - Foreign credit life reinsurance companies > Tennessee · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_TN_T56_C2_S56-2-102 ## Section - **Citation:** Tenn. Code Ann. § 56-2-102 - **Heading:** Requisites for commencing business - Foreign insurance companies qualifying as domestic corporations - Foreign credit life reinsurance companies - **Jurisdiction:** Tennessee - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** TN Code / Title 56 / Chapter 2 / Section 56-2-102 ## Text (a) No domestic insurance company or foreign insurance company shall commence business in this state until it has complied with § 56-2-101 , this section, §§ 56-2-103 , 56-2-104 , 56-2-113 - 56-2-115, 56-2-201, and 56-2-301, and has received from the commissioner a certificate of authority to do business. (b) Any company organized under the laws of any other state or country, and that is admitted to do business in this state for the purpose of writing insurance authorized by this chapter, upon complying with all of the requirements of law relative to the organization of domestic insurance companies and payment of fees by like domestic insurance corporations, and designating its principal place of business at a place in this state, may become a domestic corporation and be entitled to like certificates of its corporate existence and license to transact business in this state, and be subject in all respects to the authority and jurisdiction of this state. (c) A foreign credit life reinsurance company that meets the capital requirements of § 56-2-114(b) and that has at least fifty percent (50%) of its outstanding voting stock owned by persons or entities domiciled in this state, shall be entitled to obtain certificates of its corporate existence and shall be licensed to transact its business in this state, and be subject in all respects to the authority and jurisdiction of this state, if the following conditions are met: (1) Approval by the commissioner of commerce and insurance in its state of domicile to change its state of domicile to this state; (2) Submission to the Tennessee commissioner of commerce and insurance of a certificate of good standing from its state of domicile; (3) Compliance with all of the requirements of law relative to the organization of domestic insurance companies and payment of fees required by domestic insurance companies; and (4) Designation of a place in this state as its principal place of business. Acts 1895, ch. 160, § 9; Shan., § 3292; Code 1932, § 6107; C. Supp. 1950, § 6107; Acts 1951, ch. 212, § 1; mod. T.C.A. (orig. ed.), § 56-301; Acts 1955, ch. 13, § 1; 1978, ch. 511, § 1; T.C.A., § 56-202; Acts 1988, ch. 667, § 2. (a) No domestic insurance company or foreign insurance company shall commence business in this state until it has complied with § 56-2-101 , this section, §§ 56-2-103 , 56-2-104 , 56-2-113 - 56-2-115, 56-2-201, and 56-2-301, and has received from the commissioner a certificate of authority to do business. (b) Any company organized under the laws of any other state or country, and that is admitted to do business in this state for the purpose of writing insurance authorized by this chapter, upon complying with all of the requirements of law relative to the organization of domestic insurance companies and payment of fees by like domestic insurance corporations, and designating its principal place of business at a place in this state, may become a domestic corporation and be entitled to like certificates of its corporate existence and license to transact business in this state, and be subject in all respects to the authority and jurisdiction of this state. ization of domestic insurance companies and payment of fees by like domestic insurance corporations, and designating its principal place of business at a place in this state, may become a domestic corporation and be entitled to like certificates of its corporate existence and license to transact business in this state, and be subject in all respects to the authority and jurisdiction of this state. (c) A foreign credit life reinsurance company that meets the capital requirements of § 56-2-114(b) and that has at least fifty percent (50%) of its outstanding voting stock owned by persons or entities domiciled in this state, shall be entitled to obtain certificates of its corporate existence and shall be licensed to transact its business in this state, and be subject in all respects to the authority and jurisdiction of this state, if the following conditions are met: (1) Approval by the commissioner of commerce and insurance in its state of domicile to change its state of domicile to this state; (2) Submission to the Tennessee commissioner of commerce and insurance of a certificate of good standing from its state of domicile; (3) Compliance with all of the requirements of law relative to the organization of domestic insurance companies and payment of fees required by domestic insurance companies; and (4) Designation of a place in this state as its principal place of business. (1) Approval by the commissioner of commerce and insurance in its state of domicile to change its state of domicile to this state; (2) Submission to the Tennessee commissioner of commerce and insurance of a certificate of good standing from its state of domicile; (3) Compliance with all of the requirements of law relative to the organization of domestic insurance companies and payment of fees required by domestic insurance companies; and (4) Designation of a place in this state as its principal place of business. Acts 1895, ch. 160, § 9; Shan., § 3292; Code 1932, § 6107; C. Supp. 1950, § 6107; Acts 1951, ch. 212, § 1; mod. T.C.A. (orig. ed.), § 56-301; Acts 1955, ch. 13, § 1; 1978, ch. 511, § 1; T.C.A., § 56-202; Acts 1988, ch. 667, § 2. ## Nearby sections - [Tenn. Code Ann. § 56-2-101 Applicability to foreign and domestic companies](https://www.frixlaw.com/law-library/statutes/STATE_TN_T56_C2_S56-2-101.md) - [Tenn. Code Ann. § 56-2-102 Requisites for commencing business - Foreign insurance companies qualifying as domestic corporations - Foreign credit life reinsurance companies](https://www.frixlaw.com/law-library/statutes/STATE_TN_T56_C2_S56-2-102.md) - [Tenn. Code Ann. § 56-2-103 Qualifications necessary to do business - Commissioner to accept process - Deposit of securities](https://www.frixlaw.com/law-library/statutes/STATE_TN_T56_C2_S56-2-103.md) - [Tenn. Code Ann. § 56-2-104 Contents of statement - Deposits](https://www.frixlaw.com/law-library/statutes/STATE_TN_T56_C2_S56-2-104.md) - [Tenn. Code Ann. § 56-2-105 Certificate of authority required - Exceptions](https://www.frixlaw.com/law-library/statutes/STATE_TN_T56_C2_S56-2-105.md) - [Tenn. Code Ann. § 56-2-106 Certificate of exemption](https://www.frixlaw.com/law-library/statutes/STATE_TN_T56_C2_S56-2-106.md) - [Tenn. Code Ann. § 56-2-107 Acts of unauthorized insurers constituting doing business in state](https://www.frixlaw.com/law-library/statutes/STATE_TN_T56_C2_S56-2-107.md) - [Tenn. Code Ann. § 56-2-108 Violation of Section 56-2-105 - Penalty](https://www.frixlaw.com/law-library/statutes/STATE_TN_T56_C2_S56-2-108.md) - [Tenn. Code Ann. § 56-2-109 No action to be maintained without certificate of authority](https://www.frixlaw.com/law-library/statutes/STATE_TN_T56_C2_S56-2-109.md) - [Tenn. Code Ann. § 56-2-110 Injunction to prevent violation of Section 56-2-105](https://www.frixlaw.com/law-library/statutes/STATE_TN_T56_C2_S56-2-110.md) - [Tenn. Code Ann. § 56-2-111 Liability for tax on gross premium](https://www.frixlaw.com/law-library/statutes/STATE_TN_T56_C2_S56-2-111.md) - [Tenn. Code Ann. § 56-2-112 Deposits in trust to secure policyholders](https://www.frixlaw.com/law-library/statutes/STATE_TN_T56_C2_S56-2-112.md) - [Tenn. Code Ann. § 56-2-113 Period of organization before admission of foreign companies - Exceptions](https://www.frixlaw.com/law-library/statutes/STATE_TN_T56_C2_S56-2-113.md) - [Tenn. Code Ann. § 56-2-114 Capital requirements for insurance combinations and reinsurance](https://www.frixlaw.com/law-library/statutes/STATE_TN_T56_C2_S56-2-114.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_TN_T56_C2_S56-2-102. Check the current official text before relying on it. Not legal advice.