(a) The bond posted or the certificate of deposit assigned in accordance with this chapter shall be in full force and effect during all periods and in all places and areas in which the licensee is doing business within this state as a collection service.

Terms Used In Tennessee Code 62-20-110

  • Board: means the Tennessee collection service board. See Tennessee Code 62-20-102
  • Client: means any person who retains the services of a collection service and for such services directly provides the fee, commission or other compensation. See Tennessee Code 62-20-102
  • Collection service: includes , but is not limited to:
    (A) Any deputy sheriff, constable or other individual who, in the course of that person's duties, accepts any compensation other than that fixed by statute in connection with the collection of an account. See Tennessee Code 62-20-102
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(b) If any collection service violates the conditions of the bond or certificate of deposit, the injured client may maintain an action in the client’s own name on the bond or certificate of deposit of the collection service in any court of competent jurisdiction.
(c) In no event shall the aggregate liability of the surety exceed the amount of the bond, nor shall the board or this state be liable to any client relative to an assigned certificate of deposit.
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