Tenn. Code Ann. § 45-2-214: Time for approval or denial of application - Conditions for approval

The commissioner shall approve or deny the application for a certificate of authority within thirty (30) days after the application has been filed. The commissioner shall approve the application if:

(1) The capital and surplus have been fully paid in cash;

(2) Appropriate bylaws have been adopted;

(3) Any conditions imposed by the commissioner in granting the charter have been fulfilled;

(4) The requirements of this chapter and chapter 1 of this title have been satisfied; and

(5) An amount of fidelity bond coverages satisfactory to the commissioner is in force.