56-1-417 - Notice required for revocation or suspension of certificate of authority.
56-1-417. Notice required for revocation or suspension of certificate of authority.
Unless the ground for revocation or suspension relates only to the financial condition or soundness of the company or to a deficiency in its assets, the commissioner shall notify the company no less than ten (10) days before revoking its authority to do business in this state, and the commissioner shall specify in the notice the particulars of the supposed violation.
[Acts 1895, ch. 160, § 5; Shan., § 3284; Code 1932, § 6099; T.C.A. (orig. ed.), § 56-129.]