(a)The official bonds of all state and county officers, now required by law to furnish official bonds, shall be executed by such officials as principal and may be executed by some surety company authorized to do business in the state of Tennessee, as surety.
(b)(1) The form of all official bonds of all state officials and employees and all county officials and employees shall be prescribed by the comptroller of the treasury, with the approval of the attorney general and reporter. Such prescribed forms shall be filed in the office of the secretary of state. All official bonds of all such officers and employees executed hereafter shall be in the prescribed form if one has been provided. To the extent any such official bond is not in the prescribed form, the same shall stand reformed by imp
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(a) The official bonds of all state and county officers, now required by law to furnish official bonds, shall be executed by such officials as principal and may be executed by some surety company authorized to do business in the state of Tennessee, as surety. (b) (1) The form of all official bonds of all state officials and employees and all county officials and employees shall be prescribed by the comptroller of the treasury, with the approval of the attorney general and reporter. Such prescribed forms shall be filed in the office of the secretary of state. All official bonds of all such officers and employees executed hereafter shall be in the prescribed form if one has been provided. To the extent any such official bond is not in the prescribed form, the same shall stand reformed by implication of law so as to comply with the prescribed form. (2) Should the prescribed form be amended, the amendment shall affect only bonds and undertakings executed subsequently thereto. Bonds shall continue to be executed in their present form until a form is prescribed therefor under this law. Forms shall be prepared so as to comply with the requirements of statutes of Tennessee relating to such bonds. Where the conditions of bonds are prescribed by statute, the statute shall prevail. (c) Nothing in this chapter or elsewhere in this code shall be construed as prohibiting the use by any county, municipality, or metropolitan government, of a blanket bond for coverage of two (2) or more of its officials. A separate rider or attachment to the blanket bond shall be prepared for each principal, and wherever in this chapter the term "bond" is used, it likewise includes a blanket bond and each rider or attachment thereto. Each rider or attachment to a blanket bond shall be signed by the named principal, shall be acknowledged by the bond sureties, shall expressly incorporate the conditions stated in § 8-19-111 , shall refer specifically to the blanket bond of which it is a part, and shall be filed, approved, and otherwise processed in the manner required for bonds under this chapter. (d) County governments shall obtain and maintain blanket surety bond coverage for all county employees not covered by individual bonds referenced elsewhere in statute. The minimum amount of such blanket bonds is one hundred fifty thousand dollars ($150,000). (e) (1) In lieu of a bond, county legislative bodies may elect to obtain and pay the premiums or other costs with respect to a policy of insurance issued by an insurance company duly authorized to do business in this state or an agreement with a pool established pursuant to § 29-20-401 or any entity established pursuant to § 29-20-401(b)(2) for administration of such agreement, that provides government crime coverage, employee dishonesty insurance coverage, or equivalent coverage that insures the lawful performance by officials and their employees of their fiduciary duties and responsibilities. Any such policy or agreement maintained must have limits of not less than four hundred thousand dollars ($400,000) per occurrence. (2) A policy or agreement satisfying the requirements set forth in subdivision (e)(1) is deemed to be a blanket bond for each official or office identified in the policy or agreement for all purposes under this chapter. (3) A certificate of insurance, policy, or endorsement must be recorded in the register's office and then filed with the county clerk. (4) If the policy of insurance maintained by the county ceases to provide coverage to the officeholder for any reason, the officeholder has thirty (30) days from the date of termination of coverage to record and file a bond or other proof of insurance coverage. (5) If a governmental entity obtains and pays premiums on an insurance policy or agreement pursuant to this subsection (e), then the monetary limits pursuant to the Tennessee Governmental Tort Liability Act, compiled in title 29, chapter 20, do not increase. (f) A county that has elected to self-insure its liability under the Tennessee Governmental Tort Liability Act, compiled in title 29, chapter 20, may elect, by resolution adopted by two-thirds (2/3) vote of its governing body, to self-insure its risk of loss instead of obtaining the bonds or insurance required under this section, under the same terms as bonds or insurance under this chapter. A county making an election under this section shall file a copy of the resolution in the office of the register of deeds.
Amended by 2023 Tenn. Acts, ch. 207, s 19, eff. 7/1/2023. Amended by 2023 Tenn. Acts, ch. 207, s 18, eff. 7/1/2023. Amended by 2021 Tenn. Acts, ch. 232, s 1, eff. 4/22/2021. Amended by 2019 Tenn. Acts, ch. 260, s 1, eff. 4/30/2019. Amended by 2016 Tenn. Acts, ch. 749, s 1, eff. 4/12/2016. Amended by 2013 Tenn. Acts, ch. 315, s 30, eff. 4/29/2013. Acts 1941, ch. 138, § 1; C. Supp. 1950, § 1839.1; Acts 1957, ch. 289, § 1; 1976, ch. 616, § 1; 1978, ch. 620, § 1; 1978, ch. 689, §§ 6, 12; impl. am. Acts 1978, ch. 934, §§ 7, 36; T.C.A. (orig. ed.), § 8-1901.