Acquisition and administrative expenses - Limitation - Approval

All acquisition and administrative expenses in connection with the hospital service corporations shall at all times be limited after the first year of operation to not exceed twenty-five percent (25%) of the total net premium income of the corporation. All acquisition and administrative expenses shall be subject to the approval of the commissioner. Acts 1949, ch. 234, § 13; C. Supp. 1950, § 4186.55 (Williams, § 4186.58); T.C.A. (orig. ed.), § 56-3110. All acquisition and administrative expenses in connection with the hospital service corporations shall at all times be limited after the first year of operation to not exceed twenty-five percent (25%) of the total net premium income of the corporation. All acquisition and administrative expenses shall be subject to the approval of the commissioner. Acts 1949, ch. 234, § 13; C. Supp. 1950, § 4186.55 (Williams, § 4186.58); T.C.A. (orig. ed.), § 56-3110.