Tenn. Code Ann. § 56-1-502: Forfeiture for failure to file statement - Suspension of authority to do new business

Any insurance company that neglects to make and file its annual statement in the form and within the time provided by § 56-1-501 shall forfeit one hundred dollars ($100) for each day neglected, and, upon notice by the commissioner to that effect, its authority to do new business shall cease while the default continues.