The State of Tennessee Department of Commerce & Insurance, Collection Board Service, is responsible for the collections industry. This includes protecting the public by insuring that Collection Agencies, collection services and solicitors properly conduct business, ensure licensure requirements are met, compliance of legislation, and when necessary, initiate investigations. The Tennessee Code Annotated Title 62 Chapter 20 defines the requirements for licensure of collection agencies, collection services and solicitors.
The premium that you pay for a Tennessee Collection Agency Bond will vary depending on credit and bond amount required.
Collection agencies with more than one location will need to complete a branch application for each branch office.
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