{"data":{"id":"us-tn/tenn.-code-ann.-4-49-109","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 4-49-109","heading":"Requirements for escrow account - Insurance - Cash-on-hand","body":"(a) The council shall prescribe by rule: (1) The amount of a bond in escrow and the amount of cash that must be kept on hand to ensure that there exists adequate reserves to pay off bettors; and (2) Any insurance requirements for a licensee. (b) The licensee may maintain the bond at any bank lawfully operating in this state, and the licensee must be the beneficiary of any interest accrued thereon. Renumbered from T.C.A. s 4-51-309 by 2021 Tenn. Acts, ch. 593, s 30, eff. 1/1/2022. Added by 2019 Tenn. Acts, ch. 507, s 1, eff. 7/1/2019.\n(a) The council shall prescribe by rule: (1) The amount of a bond in escrow and the amount of cash that must be kept on hand to ensure that there exists adequate reserves to pay off bettors; and (2) Any insurance requirements for a licensee.\n(1) The amount of a bond in escrow and the amount of cash that must be kept on hand to ensure that there exists adequate reserves to pay off bettors; and\n(2) Any insurance requirements for a licensee.\n(b) The licensee may maintain the bond at any bank lawfully operating in this state, and the licensee must be the beneficiary of any interest accrued thereon.\nRenumbered from T.C.A. s 4-51-309 by 2021 Tenn. Acts, ch. 593, s 30, eff. 1/1/2022.","path":["TN Code","Title 4","Chapter 49"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_tn_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:26Z","sha256":"1254e386bbe04fff77153bb19b7ba8a98afe270bd5edc3e2018ed9da94679e5c","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-4-49-108","next":"us-tn/tenn.-code-ann.-4-49-110"},"notice":"GroundRules: Original legal text. Not legal advice."}