Insurance Companies, Agents, Brokers, Policies - As introduced, increases, from 30 to 35 days, the time that an insurance company has to remove a person as an officer or director of the company after receipt of an order from the commissioner of commerce and insurance to do so. - Amends TCA Title 4; Title 56 and Title 71.

SB 998 changes Tennessee law to extend the time insurance companies must remove an officer or director after receiving a commissioner order from 30 to 35 days. This affects insurance companies required to comply with orders from the Commissioner of Commerce and Insurance. The bill amends specific sections of Tennessee Code (Title 4, 56, and 71) to implement this 5-day extension. The change provides companies with a slightly longer timeframe to adjust their leadership structure following regulatory action. The bill is currently in committee review after being introduced in February 2025.