Tennessee resident fund bonds.
From $100.
A Tennessee long-term care facility that holds residents’ personal funds in trust must maintain a surety bond on those funds under T.C.A. § 68-11-906. The amount tracks the total you hold in trust — premiums are 1% of the bond amount, $100 minimum.
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How much does a Tennessee resident fund bond cost?
1% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No underwriting queue for the standard resident fund bond — enter your amount, pay, and file. Here is the whole thing:
Apply online
Your facility details, the total funds you hold in trust, and the effective date — that is the application.
Issued on the spot
No credit check up to $250,000. Above that, the carrier may run a soft pull, which never affects your score.
File with health-facility licensing
Submit the executed bond to satisfy your resident-trust-fund requirement. Wet-ink originals mailed whenever the office insists.
What it is and who needs it.
What the resident fund bond actually covers
Many nursing-home residents ask the facility to hold and manage their personal spending money. Tennessee requires a facility that accepts and manages residents’ funds to post a surety bond on those funds under T.C.A. § 68-11-906, so the money is protected if the facility mishandles it.
The bond amount equals the total funds held in trust for the facility’s residents — so it scales with your census and the balances you hold. The facility must also make an annual, audited accounting of those funds available to residents and for public inspection.
The bond protects residents (and the state) against loss if the facility fails to manage the trust funds honestly. If the surety pays a claim, the facility repays the surety. Enter the figure that matches your trust balances — premiums start from $100.
You need this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with health-facility licensing. Submit the executed bond to satisfy your resident-trust-fund requirement. Wet-ink originals mailed whenever the office insists.
What sets the price
The premium is 1% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $250,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued on the spot.
Submit the application with the total funds you hold in trust — the executed bond is generated instantly, ready to file.
Start the application →Common questions.
Other Tennessee bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Resident fund bond, issued today.
Premiums from $100. Enter your trust total and file the same day.