Amends TCA Title 66.
Tennessee HB2338 requires homeowners' associations that collect assessments for common expenses to obtain and maintain a blanket fidelity bond. This bond is intended to protect the association against losses due to theft or dishonesty by its officers, directors, employees, or any managing agents and their employees. The bill aims to enhance financial security and accountability within homeowners' associations.
Tennessee HB2338 requires homeowners' associations that collect assessments for common expenses to obtain and maintain a blanket fidelity bond. This bond is intended to protect the association against losses due to theft or dishonesty by its officers, directors, employees, or any managing agents and their employees. The bill aims to enhance financial security and accountability within homeowners' associations.
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