56-7-801 - Inspection of property insured against fire No insurance exceeding fair value of property.
56-7-801. Inspection of property insured against fire No insurance exceeding fair value of property.
Every agent, within ninety (90) days after making or writing any contract of fire insurance on any building or structure in this state, shall cause the building or structure to be personally inspected; and no company, and no officer or agent of the company, and no insurance broker, shall knowingly issue, negotiate, continue or renew or cause to permit to be issued, negotiated, continued or renewed any fire insurance policy upon property or interests in the property within the state of an amount that, with any existing insurance on the property, exceeds the fair value of the property.
[Acts 1927, ch. 72, § 1; mod. Code 1932, § 6172; T.C.A. (orig. ed.), § 56-1137.]