Form IN-1801 Collection Service License Bond - Tennessee

What Is Form IN-1801?

This is a legal form that was released by the Tennessee Department of Commerce and Insurance - a government authority operating within Tennessee. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form IN-1801?
A: Form IN-1801 is a Collection Service License Bond specific to Tennessee.

Q: What is a Collection Service License Bond?
A: A Collection Service License Bond is a type of surety bond required for collection agencies to operate legally in Tennessee.

Q: Who is required to complete Form IN-1801?
A: Collection agencies seeking to obtain or renew their license in Tennessee are required to complete Form IN-1801.

Q: What is the purpose of Form IN-1801?
A: The purpose of Form IN-1801 is to provide a financial guarantee to the state of Tennessee that the collection agency will comply with all relevant laws and regulations.

Q: Are there any fees associated with Form IN-1801?
A: Yes, there is a non-refundable $100 fee for the filing of Form IN-1801.

Q: Is Form IN-1801 specific to Tennessee?
A: Yes, Form IN-1801 is specific to Tennessee and is not valid for collection agencies operating in other states.

Q: What happens if a collection agency fails to obtain a Collection Service License Bond?
A: A collection agency that fails to obtain a Collection Service License Bond may be subject to fines, penalties, or even suspension or revocation of their license.

Q: Can a collection agency operate without a Collection Service License Bond?
A: No, a collection agency is required by law to have a valid Collection Service License Bond in order to operate legally in Tennessee.

Q: How often does a Collection Service License Bond need to be renewed?
A: A Collection Service License Bond needs to be renewed annually, along with the collection agency's license, in order to maintain legal compliance in Tennessee.