SB 4175, enacted on 06/05/2008, requires Tennessee health clubs to post a bond in the amount of $25,000 with the Department of Commerce and Insurance; securities, cash, and a certificate of deposit are also acceptable. The bond must be sustained for two years after the health club halts doing business in the state. The new law allows the Attorney General to request the total amount of the bond to be granted to the state for consumer reimbursement.
Tennessee Health Club Bond
September 7, 2009 by Eric Weisbrot
Category: Commercial Bonds, Surety NewsTags: bond requirements, health club bond, legislation, surety bond, tennessee, tn |
