§ 56-15-101. General powers -- Right to become sureties -- Banking business prohibited.

TN Code § 56-15-101 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(1) All bonds, stipulations, or undertakings conditioned for the faithful performance of any duty, public or private, including the bonds and obligations of such a character, as well of private individuals as of public officers, whether state, county, or municipal;

(2) All bonds and obligations required to be executed in the course of judicial proceedings in any of the courts of the state; and

(3) All bonds of administrators, executors, guardians and trustees, and of all persons acting in a fiduciary capacity, whether acting under the authority of any court of this state, or by virtue of a deed, will or other instrument executed by a private individual or corporation, or by virtue of any appointment to any position of trust or confidence by any private individual or corporation; provided, that no fidelity or bonding company shall receive deposits subject to check, or do a general banking business. A fidelity or bonding company that receives deposits subject to check, or does a general banking business commits a Class C misdemeanor.