56-2-702 - Part definitions.
56-2-702. Part definitions.
As used in this part:
(1) Foreign decree means any decree or order in equity of a court located in a reciprocal state, including a court of the United States located in the reciprocal state, against any insurer incorporated or authorized to do business in this state;
(2) Qualified party means a state regulatory agency acting in its capacity to enforce the insurance laws of its state; and
(3) Reciprocal state means any state or territory of the United States, the laws of which contain procedures substantially similar to those specified in this part for the enforcement of decrees or orders in equity issued by courts located in other states or territories of the United States, against any insurer incorporated or authorized to do business in the state or territory.
[Acts 1969, ch. 315, § 1; T.C.A., § 56-261.]