Tennessee Litigation Financier License Surety Bond
As of July 1, 2014, all litigation financiers who operate in the State of TN must register with the Secretary of State of Tennessee and post a $50,000 Litigation Financier Surety Bond.
According to the Litigation Financing Consumer Protection Act, a litigation financier is any person, business entity or partnership engaged in the business of providing litigation financing. The act defines litigation financing as the making of "non-recourse transactions in which financing is provided to a consumer in return for a consumer assigning to the litigation financier a contingent right to receive an amount of the potential proceeds of the consumer's judgment, award, settlement or verdict obtained with respect to the consumer's legal claim".
Three requirements to register as a litigation financier:
- Founding organization document (domestic) or certificate of authority (foreign) must contain a statement that the entity or partnership shall be designated a litigation financier pursuant to the Tennessee Litigation Financing Consumer Protection Act.
- The financier must have a status of active and in good standing with the Secretary of State.
- The entity must file a TN Litigation Financier surety bond in the amount of $50,000.
An individual person or sole proprietor must also register with the Secretary of State as a litigation financier.
How do I purchase a TN Litigation Financier License Surety Bond?
We have simplified the process of getting you bonded! Our online application process takes less than 2 minutes to complete.
Can I get a TN Litigation Financier Bond with bad credit?
We can issue Litigation Financier bonds for accounts with damaged credit. Our Bad Credit Surety bond program allows us to issue your required bond, regardless of your situation.