Tennessee Industrial Loan and Thrift Surety Bond
Tennessee Industrial Loan and Thrift (TILT) companies engaging in the business of making loans and imposing interest and loan charges authorized by the TN Industrial Loan and Thrift Act, including persons engaged in business as endorsement companies, must file for registration with the Tennessee Department of Financial Institutions. Registrants must post and maintain an Industrial Loan and Thrift Surety Bond to guarantee compliance and payment provisions with the act.
All applicants must provide a one (l) year surety bond for a term of not less than three (3) years in the amount of $50,000 . If the applicant makes or proposes to make residential mortgage loans then the amount of the bond shall be two hundred thousand dollars ($200,000) in accordance with T.C.A. §45-5-203(c) and (d). You can find up to date information and the required application for the TN Industrial Loan and Thrift License by visiting the TN Department of Financial Institutions website.
All Tennessee Industrial Loan and Thrift License Surety Bonds must be replaced or renewed by the statutory expiration date of June 30 of each year.
Apply for your Tennessee Industrial Loan and Thrift Surety Bond and let our expert staff get the bond you need at the lowest possible price!