TN Insurance Bulletin (1989-04-11): Directors, Trustees or Members Liability of non-profit cemetery corporations.

NED McWHERTER GOVERNOR TO: FR: RE: DA: STATE OF TENNESSEE DEPARTMENT OF COMMERCE AND INSURANCE 500 JAMES ROBERTSON PARKWAY NASHVILLE, TENNESSEE 37219 B U L L E T I N ELAINE A. McREYNOLDS COMMISSIONER Non-profit Cemetery Corporations, Associations, and Organizations E 1 a i n e A • M c Reyno 1 d s ~~ A .111\ Commissioner of Commerce and Insurance npUVYVI Directors' Liability April 11, 1989 This bulletin is issued pursuant to Tennessee Code Annotated Section 48-58-601(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. 48-58-601(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. The minimum amount of general and professional liability insurance coverage established by the Department for such cemetery corporations, associations, and organizations is one hundred thousand dollars ($100,000). This bulletin is applicable only to those not-for-profit cemetery corporations, associations, and organizations as described in T.C.A. 48-58-601(d)(6) which are exempt from Federal Income Taxation under Section 501(c)(13) of the Internal Revenue Code (26 u.s.c. Section 501(c)(13)).