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TN SB2326
Bill
Status
2/2/2026
Primary Sponsor
Jeff Yarbro
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AI Summary
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Homeowners' associations 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 annual assessment income, with a minimum coverage of $10,000
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Applies to both incorporated and unincorporated HOAs, including condominium unit owners' associations
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Effective date: 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
Recommended for passage, refer to Senate Calendar Committee
3/10/2026