If, after its investigation, the court finds that the bondsman:

(1) Is insolvent;

Terms Used In Tennessee Code 40-11-306

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • bondsman: extends to and includes the agents, representatives or employees of a professional bondsman, or those acting for the bondsman, whether with or without compensation or salary. See Tennessee Code 40-11-301
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(2) Is not financially able to discharge the obligations of the bondsman’s liabilities as surety;
(3) Has failed, refused or neglected to make the semiannual reports of assets and liabilities as required in § 40-11-303;
(4) Has made and filed false semiannual reports; or
(5) Has failed to furnish the court with information touching upon solvency, when called for;

then the court may order that the bondsman be prohibited from executing bonds, bail or other undertakings as surety in the court until the court becomes satisfied that the bondsman has complied with this part or the orders of the court, or that the bondsman is again financially solvent, and the court shall impose any other reasonable limitation on the total liability of the bondsman’s undertakings in the court.

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