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TN HB2338
Bill
Status
2/2/2026
Primary Sponsor
Caleb Hemmer
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AI Summary
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Homeowners' associations (HOAs) that collect assessments for common expenses must obtain and maintain a blanket fidelity bond to protect against theft or dishonesty by officers, directors, employees, or managing agents
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Required bond coverage amount equals the HOA's reserve balances plus one-fourth of its aggregate annual assessment income, with a minimum coverage of $10,000
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The board of directors or managing agent may obtain the bond or insurance policy on behalf of the HOA
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Effective July 1, 2026
Legislative Description
AN ACT to amend Tennessee Code Annotated, Title 66, relative to property owners' associations' responsibility to maintain fidelity bonds.
Real Property
Last Action
Rec. for pass; ref to Calendar & Rules Committee
3/11/2026