Tennessee Statutes
§ 67-3-613 — Bond replacement
Tennessee·Title 67
(a)If, at any time after the execution of any surety bond, the surety or sureties on the bond become insolvent, the commissioner may require the execution of a new bond with good and solvent surety in the same manner and with the same penalty as the bond being replaced. The bond shall be subject to the approval of the commissioner.
(b)Any person executing a bond under this part may, at any time prior to default under any existing bond, apply to the commissioner for leave to cancel the existing bond and file a new bond with a new surety.
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Legislative History
Acts 1997, ch. 316, § 1; T.C.A., § 67-3-1713.
Nearby Sections
15
§ 67-1-1001
Part definitions§ 67-1-1002
Grounds§ 67-1-1004
Ineffective against bona fide purchaser§ 67-1-1005
Duty to back assess or reassess - Citation§ 67-1-1006
Obtaining evidence§ 67-1-1008
Penalty and costs§ 67-1-1011
Records and reports§ 67-1-103
Study of tax laws - Report§ 67-1-104
Tax administration fund