Signed into law on March 7, 2013, and published just a few days later on March 13, Tennessee House Bill 75 rewrote parts of the charter of Tellico Plains. Among the changes is the inclusion of a public official surety bond.
Article V, Section 3 of the bill details the updated surety requirements.
“Every officer, agent and employee having duties embracing the receipt, disbursement, custody, or handling of money shall, before entering upon his duties, execute a surety bond with some surety company authorized to do business in the state, as surety, in such amount as shall be prescribed by ordinance or this charter. All such bonds and sureties shall be subject to the approval of the town council, and the town council may provide for blanket bonds. The cost of all bonds shall be an expense of the town.”
If you need a surety bond in Tennessee or any other state, contact SuretyBonds.com online 24/7 or by phone at 1 (800) 308-4358 Monday through Friday, 7 a.m. to 7 p.m. CST. You’ll be connected with an expert surety specialist who will walk you through each step of the bonding process.