House Bill 1477 and Senate Bill 1694 propose an amendment to Tennessee Code Annotated regarding insurance regulations. Specifically, the bill modifies Section 56-1-106(a)(2)(A) by changing the time frame from "thirty (30) days" to "thirty (30) business days." This adjustment aims to clarify the timeline for certain insurance-related processes, ensuring that stakeholders have a more precise understanding of the required time frame.

The bill is set to take effect immediately upon becoming law, emphasizing the urgency of the changes for the public welfare. By extending the time frame to business days, the legislation seeks to provide a more practical approach to compliance and operational procedures within the insurance sector in Tennessee.

Statutes affected:
Introduced: 56-1-106(a)(2)(A), 56-1-106