The Tennessee Patients Trust Bond is required by the State of Tennessee. The bond states that the bondholder will hold separately and in trust all patients’ funds deposited with Principal as, or as the operator of a nursing home or home for the aged.
In order to find out the cost of the surety bond, all we need is the completed application. Surety1 has access to the best surety markets available so we will be able to get you bonded quickly at the best possible price!
What is the purpose of a Tennessee Patients Trust Bond?
As per the Tennessee Code Title 68, each nursing home shall deposit any funds in excess of $100 received from a resident in an interest-bearing account. This account must be insured by an agency of the federal government and the nursing home must maintain a surety bond.
How do I obtain a Tennessee Patients Trust Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The surety bond experts at Surety1 are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.