Tennessee § 62-20-110 Bond posted or certificate of deposit assigned

Tennessee Statutes

§ 62-20-110 — Bond posted or certificate of deposit assigned

Tennessee § 62-20-110

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This text of Tennessee § 62-20-110 (Bond posted or certificate of deposit assigned) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 62-20-110 (2026).

Text

(a)The bond posted or the certificate of deposit assigned in accordance with this chapter shall be in full force and effect during all periods and in all places and areas in which the licensee is doing business within this state as a collection service.

(b)If any collection service violates the conditions of the bond or certificate of deposit, the injured client may maintain an action in the client's own name on the bond or certificate of deposit of the collection service in any court of competent jurisdiction.

(c)In no event shall the aggregate liability of the surety exceed the amount of the bond, nor shall the board or this state be liable to any client relative to an assigned certificate of deposit.

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(a) The bond posted or the certificate of deposit assigned in accordance with this chapter shall be in full force and effect during all periods and in all places and areas in which the licensee is doing business within this state as a collection service. (b) If any collection service violates the conditions of the bond or certificate of deposit, the injured client may maintain an action in the client's own name on the bond or certificate of deposit of the collection service in any court of competent jurisdiction. (c) In no event shall the aggregate liability of the surety exceed the amount of the bond, nor shall the board or this state be liable to any client relative to an assigned certificate of deposit.