CHAPTER NO. 672

HOUSE BILL NO. 2685

By Representative Rhinehart

Substituted for: Senate Bill No. 2394

By Senator Cooper

AN ACT to amend Tennessee Code Annotated, Title 56.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:

SECTION 1. Tennessee Code Annotated, Section 56-30-107, is amended by adding the following at the end of the section:

The prohibition in this section shall not apply to persons engaging in transactions in this State involving a master group subscription contract lawfully issued and delivered in another state, and such persons shall not be subject to this Chapter or otherwise regulated by or prohibited from engaging in such transactions solely as a result of such transactions.

SECTION 2. This act shall take effect upon becoming a law, the public welfare requiring it.

PASSED:

March 16, 1998

APPROVED this 25th day of March 1998