Restrictions on insurance companies and their affiliates

An insurance company or affiliate of an insurance company shall not, directly or indirectly: (1) Beneficially own, whether through rights, options, convertible interest or otherwise, fifteen percent (15%) or more of the voting securities or other voting ownership interest of a TNInvestco; (2) Manage a TNInvestco, other than exercising remedies for default; or (3) Control the direction of investments for a TNInvestco. Acts 2009, ch. 610, § 8. An insurance company or affiliate of an insurance company shall not, directly or indirectly: (1) Beneficially own, whether through rights, options, convertible interest or otherwise, fifteen percent (15%) or more of the voting securities or other voting ownership interest of a TNInvestco; (2) Manage a TNInvestco, other than exercising remedies for default; or (3) Control the direction of investments for a TNInvestco. Acts 2009, ch. 610, § 8.