Tennessee Surety Bonds
What is a surety bond in Tennessee? A surety bond is a three-party guarantee. The principal (the business or person who buys the bond) promises to follow the law or fulfill an obligation, the obligee (the state agency, court, or other party that requires the bond) is protected if the principal fails to do so, […]
Tennessee Public Official Bond
A Tennessee public official bond is the official bond a state or county officer must give to guarantee that the officer will faithfully perform the duties of the office and account for the public money and property that pass through it. There is no single statewide dollar amount. Under Tenn. Code Ann. 8-19-101, official bonds […]
Tennessee Health Club Bond
A Tennessee health club bond is a $25,000 surety bond a health club must post for each location it operates in the state. Under Tenn. Code Ann. 47-18-318, the bond amount is set by the commissioner of commerce and insurance, and if no amount has been set by rule, the bond is $25,000 for each […]
Tennessee Motor Vehicle Dealer Bond
Every motor vehicle dealer in Tennessee must post a $50,000 corporate surety bond to get and keep a dealer license. The amount is set by Tenn. Code Ann. 55-17-111(g)(1), the bond is filed with the Tennessee Motor Vehicle Commission (part of the Tennessee Department of Commerce and Insurance), and it is written on the state’s […]
Tennessee Home Improvement Bond
The Tennessee Home Improvement Bond is a $10,000 surety bond that a home improvement contractor files with the Tennessee Board for Licensing Contractors to get and keep a home improvement contractor’s license. It is required under Tenn. Code Ann. 62-6-506, part of the state’s Home Improvement Contractors law (Title 62, Chapter 6, Part 5). The […]
Tennessee Sales Tax Bond
A Tennessee sales tax bond is a security the Tennessee Department of Revenue requires from a dealer to guarantee payment of sales and use tax. It is not a bond that every Tennessee seller posts. Under Tenn. Code Ann. § 67-6-522, a dealer licensed to do business in Tennessee who becomes delinquent for more than […]
Tennessee Title Agent Bond
A Tennessee title insurance agent bond is a $25,000 surety bond that every licensed title insurance agent must file with the Tennessee Commissioner of Commerce and Insurance within 30 days after the license is issued. Under Tenn. Code Ann. 56-35-202, each title insurance agent “shall, within thirty (30) days after the date the license is […]
Arizona Motor Vehicle Dealer Bond
An Arizona motor vehicle dealer bond is a surety bond you must file with the Arizona Department of Transportation Motor Vehicle Division (MVD) before it will issue or renew your dealer license. New and used motor vehicle dealers each post a $100,000 bond, while automotive recyclers post a lower amount set at no less than […]
Nevada Sales Tax Bond
A Nevada sales tax bond is one way to post the security the Nevada Department of Taxation can require before you sell taxable goods in the state. The Department sets the amount from your estimated tax liability, and you can satisfy it with a surety bond instead of tying up cash. It is authorized under […]
Freight Broker Bond (FMCSA)
A freight broker bond, filed on FMCSA form BMC-84, is the $75,000 financial responsibility a property broker or freight forwarder must have before the Federal Motor Carrier Safety Administration (FMCSA) will grant or keep its broker authority. This is a federal bond, not a state one, so the same $75,000 applies whether you operate in […]
