TN Insurance Bulletin (1989-03-27): Directors, Trustees or Members Liability of non-profit cemetery corporations.

fM;;&-e[ - Jie_, 1/j;;/!9 tu!W/j STATE OF TENNESSEE DEPARTMENT OF COMMERCE AND INSURANCE LEGAL SERVICES NED McWHERTER GOVERNOR 500 JAMES ROBERTSON PARKWAY VOLUNTEER PLAZA BUILDING, FIFTH FLOOR NASHVILLE, TENNESSEE 37219 ELAINE A. McREYNOLDS COMMISSIONER • TO: FR: RE: DA: B U L L E T I N Non-profit Cemetery Corporations, Associations, and Organizations Elaine A. McReynolds JA .Jd Commissioner of Commerce and Insurance~a/Vf/ Directors' Liability March 27, 1989 This bulletin is issued pursuant to Tennessee Code Annotated Section 48-58-60l(c), which states that all directors, trustees or members of the governing bodies of nonprofit cemetery corporations, associations, and organizations referred to in T.C.A. 48-58-60l(d) shall be immune from personal liability only if such cemetery corporations, associations, or organizations carry liability insurance coverage in an amount to be determined by the Department of Commerce and Insurance. This bulletin establishes the amount of the minimum liability coverage for such cemetery corporations, associations, and organizations at five hundred thousand ($500,000.00) dollars. This bulletin is applicable only to those not-for-profit cemetery corporations, associations, and organizations as described in T.C.A. 48-58-60l(d)(6), which are exempt from Federal Income Taxation under Section 50l(c)(l3) of the Internal Revenue Code (26 u.s.c. Section 50l(c)(l3)) •