Tennessee Postsecondary Out-of-State Educational Institutions are required under the Tennessee Codes Annotated section 49-7-2013 to file a Tennessee Postsecondary Out-of-State Educational Institution Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Tennessee Postsecondary Out-of-State Educational Institution Bond holds you accountable for your business decisions.
By possessing a Tennessee Postsecondary Out-of-State Educational Institution Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.