Form BK0306 "Tpl Bond Form" - Tennessee

What Is Form BK0306?

This is a legal form that was released by the Tennessee Department of Financial Institutions - a government authority operating within Tennessee. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on June 1, 2016;
  • The latest edition provided by the Tennessee Department of Financial Institutions;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form BK0306 by clicking the link below or browse more documents and templates provided by the Tennessee Department of Financial Institutions.

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Download Form BK0306 "Tpl Bond Form" - Tennessee

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BOND NO. ___________________________________
KNOW ALL PERSONS BY THESE PRESENTS, that ______________________________________________________________________,
(Name of Applicant)
___________________________________________________________________________________________________________________
(Business Address of Applicant)
(City)
(State)
(Zip)
(County)
as PRINCIPAL ("Principal"), and _______________________________________________________________________________________
(Name of Surety)
___________________________________________________________________________________________________________________
(City)
(State)
(Zip)
(County)
___________________________________________________________________________________________________________________
as SURETY, ("Surety"), which is licensed to transact business in the State of Tennessee pursuant to Tenn. Code Ann., §§ 56-15-101 et seq are
held and firmly bound unto the State of Tennessee, Department of Financial Institutions ("Department"), pursuant to the Tennessee Title
Pledge Act, at Tenn. Code Ann. §§ 45-15-101 et seq. ("Act"), for use of the Commissioner of the Department ("Commissioner") for the benefit
of any person who is injured pursuant to a title pledge or property pledge transaction by the fraud, misrepresentation, breach of contract,
financial failure or violation of any provision of this chapter by a title pledge lender in the penal sum of ________________________ and /100
Dollars ($ _______________________ ) in lawful money of the United States of America, for which payment Principal and Surety bind
themselves, their successors and assigns, jointly and severally.
The Principal has applied to the Commissioner for a license to conduct business in Tennessee as a title pledge lender under the Act
and the Act requires the Principal to cause a surety bond to be issued in favor of the Commissioner for the benefit of any person injured by the
wrongful act, default, fraud or misrepresentation of the Principal, its employees, agents, servants, or independent contractors.
Now if the Principal and its employees, agents, servants and independent contractors shall honestly and faithfully conform and abide
by the provisions of the Act and any Rules, Bulletins and Opinions promulgated thereto, properly apply all funds received, perform all duties,
obligations and undertakings done pursuant to the Act and any Rules, Bulletins and Opinions promulgated thereto, and promptly pay the
Commissioner any and all monies that may become due or owing to the Commissioner and the Department related to the Principal's activities
under the Act, then this obligation shall be null and void; otherwise, it shall be in full force and effect.
In addition to the above, Principal and Surety covenant, agree and represent that:
1. This bond shall be interpreted and construed in accordance with the laws of the State of Tennessee;
2. In the event Principal and Surety, or either of them, is served with a notice of a claim on this bond by an individual person or
persons or is served with a summons and complaint commencing a legal action against both or either of them under this bond, the
Surety and/or Principal shall forthwith provide the Commissioner with written notice of said bond claim or litigation commenced
against them under this bond. The notice required under this paragraph shall include a copy of the bond claim or complaint
received by the Principal or Surety.
3. In the event the Principal is other than a sole proprietorship, all necessary action shall be taken by the board of directors, partners,
members, principal shareholders, etc., to authorize the individuals identified below to execute this bond.
4. Pursuant to Tenn. Code Ann. § 45-15-106(d), this bond shall be effective on ___________, 20 _______ and shall be in force for a
period of one (I) year, with such period ending on ___________, 20 _______. Upon expiration, a continuation certificate may be
submitted as evidence of the renewal of such bond for an additional one (l) year period.
5. Regardless of the number of years this bond remains in effect, the number of claims or claimants, or the number or amount of
premiums paid, in no event shall the Surety's aggregate liability exceed the penal amount of this bond.
6. This bond shall be binding upon the Principal and Surety and their Successors or Assigns.
7. In the event that this bond is to be cancelled by either the Principal or Surety during its effective period described above, the
Principal or Surety shall provide written notice to the Commissioner thirty (30) days prior to such cancellation.
IN WITNESS WHEREOF, the parties hereto have hereunto set our hands and affixed our seals this _______ day of _______, 20___________.
_____________________________________ (Seal)
Principal
By: _____________________________________ (Seal)
Title
(Signature)
By: _____________________________________ (Seal)
Surety or Bonding Company
By: _____________________________________ (Seal)
Title
(Signature)
ACKNOWLEDGEMENTS
STATE OF __________________________
COUNTY OF ________________________
Before me, ______________________ , of the State and County Mentioned, appeared _______________________ , with whom I am
personally acquainted, and who, upon oath, acknowledged such person to be the ___________________ of___________________ , the within
named Principal and bargainer, and that, as such executed the foregoing instrument for the purposes contained therein, by personally signing
the name of the Principal as ______________________________________.
Witness my hand and seal, at office in ______________________________________, this _____________day of, 20____________.
BY: _________________________________
MY COMMISSION EXPIRES: _______________________, 20___________.
NOTARY SEAL
STATE OF __________________________
COUNTY OF ________________________
Before me, ______________________ , of the State and County Mentioned, appeared _______________________ , with whom I am
personally acquainted, and who, upon oath, acknowledged such person to be the ___________________ of___________________ , the within
named Principal and bargainer, and that, as such executed the foregoing instrument for the purposes contained therein, by personally signing
the name of the Principal as ______________________________________.
Witness my hand and seal, at office in ______________________________________, this _____________day of, 20____________.
BY: _________________________________
MY COMMISSION EXPIRES: _______________________, 20___________.
NOTARY SEAL
PLEASE MAIL ORIGINAL SURETY BOND (SIGNED) DIRECTLY TO OUR DEPARTMENT
BK0306 (Rev. June 2016)
RDA2944
BOND NO. ___________________________________
KNOW ALL PERSONS BY THESE PRESENTS, that ______________________________________________________________________,
(Name of Applicant)
___________________________________________________________________________________________________________________
(Business Address of Applicant)
(City)
(State)
(Zip)
(County)
as PRINCIPAL ("Principal"), and _______________________________________________________________________________________
(Name of Surety)
___________________________________________________________________________________________________________________
(City)
(State)
(Zip)
(County)
___________________________________________________________________________________________________________________
as SURETY, ("Surety"), which is licensed to transact business in the State of Tennessee pursuant to Tenn. Code Ann., §§ 56-15-101 et seq are
held and firmly bound unto the State of Tennessee, Department of Financial Institutions ("Department"), pursuant to the Tennessee Title
Pledge Act, at Tenn. Code Ann. §§ 45-15-101 et seq. ("Act"), for use of the Commissioner of the Department ("Commissioner") for the benefit
of any person who is injured pursuant to a title pledge or property pledge transaction by the fraud, misrepresentation, breach of contract,
financial failure or violation of any provision of this chapter by a title pledge lender in the penal sum of ________________________ and /100
Dollars ($ _______________________ ) in lawful money of the United States of America, for which payment Principal and Surety bind
themselves, their successors and assigns, jointly and severally.
The Principal has applied to the Commissioner for a license to conduct business in Tennessee as a title pledge lender under the Act
and the Act requires the Principal to cause a surety bond to be issued in favor of the Commissioner for the benefit of any person injured by the
wrongful act, default, fraud or misrepresentation of the Principal, its employees, agents, servants, or independent contractors.
Now if the Principal and its employees, agents, servants and independent contractors shall honestly and faithfully conform and abide
by the provisions of the Act and any Rules, Bulletins and Opinions promulgated thereto, properly apply all funds received, perform all duties,
obligations and undertakings done pursuant to the Act and any Rules, Bulletins and Opinions promulgated thereto, and promptly pay the
Commissioner any and all monies that may become due or owing to the Commissioner and the Department related to the Principal's activities
under the Act, then this obligation shall be null and void; otherwise, it shall be in full force and effect.
In addition to the above, Principal and Surety covenant, agree and represent that:
1. This bond shall be interpreted and construed in accordance with the laws of the State of Tennessee;
2. In the event Principal and Surety, or either of them, is served with a notice of a claim on this bond by an individual person or
persons or is served with a summons and complaint commencing a legal action against both or either of them under this bond, the
Surety and/or Principal shall forthwith provide the Commissioner with written notice of said bond claim or litigation commenced
against them under this bond. The notice required under this paragraph shall include a copy of the bond claim or complaint
received by the Principal or Surety.
3. In the event the Principal is other than a sole proprietorship, all necessary action shall be taken by the board of directors, partners,
members, principal shareholders, etc., to authorize the individuals identified below to execute this bond.
4. Pursuant to Tenn. Code Ann. § 45-15-106(d), this bond shall be effective on ___________, 20 _______ and shall be in force for a
period of one (I) year, with such period ending on ___________, 20 _______. Upon expiration, a continuation certificate may be
submitted as evidence of the renewal of such bond for an additional one (l) year period.
5. Regardless of the number of years this bond remains in effect, the number of claims or claimants, or the number or amount of
premiums paid, in no event shall the Surety's aggregate liability exceed the penal amount of this bond.
6. This bond shall be binding upon the Principal and Surety and their Successors or Assigns.
7. In the event that this bond is to be cancelled by either the Principal or Surety during its effective period described above, the
Principal or Surety shall provide written notice to the Commissioner thirty (30) days prior to such cancellation.
IN WITNESS WHEREOF, the parties hereto have hereunto set our hands and affixed our seals this _______ day of _______, 20___________.
_____________________________________ (Seal)
Principal
By: _____________________________________ (Seal)
Title
(Signature)
By: _____________________________________ (Seal)
Surety or Bonding Company
By: _____________________________________ (Seal)
Title
(Signature)
ACKNOWLEDGEMENTS
STATE OF __________________________
COUNTY OF ________________________
Before me, ______________________ , of the State and County Mentioned, appeared _______________________ , with whom I am
personally acquainted, and who, upon oath, acknowledged such person to be the ___________________ of___________________ , the within
named Principal and bargainer, and that, as such executed the foregoing instrument for the purposes contained therein, by personally signing
the name of the Principal as ______________________________________.
Witness my hand and seal, at office in ______________________________________, this _____________day of, 20____________.
BY: _________________________________
MY COMMISSION EXPIRES: _______________________, 20___________.
NOTARY SEAL
STATE OF __________________________
COUNTY OF ________________________
Before me, ______________________ , of the State and County Mentioned, appeared _______________________ , with whom I am
personally acquainted, and who, upon oath, acknowledged such person to be the ___________________ of___________________ , the within
named Principal and bargainer, and that, as such executed the foregoing instrument for the purposes contained therein, by personally signing
the name of the Principal as ______________________________________.
Witness my hand and seal, at office in ______________________________________, this _____________day of, 20____________.
BY: _________________________________
MY COMMISSION EXPIRES: _______________________, 20___________.
NOTARY SEAL
PLEASE MAIL ORIGINAL SURETY BOND (SIGNED) DIRECTLY TO OUR DEPARTMENT
BK0306 (Rev. June 2016)
RDA2944