Tennessee Modular Building Units Installer License Surety Bond
Installers of Modular Building Units in the State of Tennesse are any individual actively engaged in the assembly of modular building units on-site or the process or affixing components to land, a foundation, footings, utilities, or an existing building. All Modular Building Units Installers must be licensed by the TN Department of Commerce and Insurance. Licensees must post and maintain a $25,000.00 Modular Building Units Installer License Surety Bond.
Any applicant for a new or renewal of a license as an installer of modular building units shall submit a surety bond executed by the applicant (as principal) and by a surety company qualified to do business in this state (as surety).
Each bond shall be for the benefit of any person who suffers loss or damage resulting from code-related non-compliance with the Tennessee Modular Building Act or the rules duly promulgated thereunder by such manufacturer, dealer or installer.
Each bond shall cover code-related non-compliances occurring during the license period. A new bond or proper continuation certificate shall be submitted with each application for license renewal. The aggregate liability of the surety for code-related non-compliances occurring in each license year shall in no event exceed the amount of the bond for that year.
A separate bond shall be required for each place of business operated by an installer.
The bond term is required to run concurrent with the license term which is July 1 - June 30 of each year.
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