The State of Tennessee enacted a new health club law referred to as SB 3752. The new law requires health clubs to obtain a Surety Bond in the amount of $25,000 with the Department of Commerce and Insurance. SB 3752 states that if the clubs financial condition does not allow it to cover its financial responsibilities, the Bond can be increased up to $200,000. The law also allows the health clubs to sell memberships before they open; buyers have the right to make direct claims on the bond if the club does not open. This is one of two bills enacted in Tennessee for health clubs.
To learn more about Registered Health Clubs, please visit the Tennessee Department of Commerce and Insurance website.
Call us at (855) 952-6633 to speak with a Surety Bond Expert
What happens after I apply online for my Surety Bond?
Step #1: A Surety Bond underwriter will immediately review your application, if it has been fully completed.
Step #2: A friendly Surety Bond expert will reach out to you to explain your quote or request additional information.
Step #3: Once you accept your quote and pay any premium due, your Surety Bond will be issued and delivered immediately.