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How much does a professional solicitor bond cost in Tennessee?
The Tennessee Secretary of State requires professional solicitors to post $25,000 surety bonds. The price you’ll pay for this bond is subject to underwriting consideration.
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Give us a call at 1 (800) 308-4358 or submit a bond request to get a free surety bond quote!
If you’re ready to get bonded, call SuretyBonds.com at 1 (800) 308-4358 or fill out our online bond request form. We’ll get you the bond you need as soon as possible!
Why do I need this bond?
By obtaining a Tennessee professional solicitor surety bond, principals (professional solicitors) promise to comply with all provisions stated in the Tennessee Code Annotated 48-101-501.
Let the experts at SuretyBonds.com get you the bond you need! Fill out our online bond request form, and one of our surety experts will contact you right away to walk you through the bonding process.
What’s the fine print?
Tennessee professional solicitor surety bonds are continuous until canceled. If the bond is to be canceled, the surety must give the state written notice 30 days prior to cancellation.
Other Important Information
To act as a professional solicitor, you must first register with the Secretary of State and post a $25,000 surety bond. Prior to commencing a solicitation campaign, a professional solicitor must first submit the following to the Division of Charitable Solicitations and Gaming:
- a solicitation campaign notice
- samples or copies of all promotional materials and/or campaign literature used in the campaign
- a copy of the contract between the professional solicitor and the charitable organization
New charitable organizations must submit quarterly financial reports during the first year of business. These reports must be sent within 30 days of the end of each quarter. The financial reports must contain:
- contribution amounts disbursed to charitable organizations
- the amount of money spent for expenses, commissions and overhead
- the aggregate amount paid to the fundraising counsel and/or professional solicitor
- gross amount of received contributions
Charitable organizations that have funds solicited on their behalf or plan to solicit contributions from the public must file a registration statement prior to any soliciting. The registration statement must be filed with the Secretary of State.
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How to become a professional solicitor in Tennessee
Professional solicitors must register with the Tennessee Division of Charitable Solicitations and Gaming before seeking donations from any individual or entity. Applicants must include the following with their application:
- $800 registration fee
- $25,000 surety bond
- copies of contracts with charitable organizations
To renew a registration, the following must accompany the renewal registration:
- an audited financial statement
- all forms filed by a charitable organization
- signatures of 2 authorized officers of the charitable organization on registration renewal statement
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