{"data":{"id":"us-tn/tenn.-code-ann.-54-12-309","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 54-12-309","heading":"Deposit of bidders required","body":"(a) Each person bidding for the work shall deposit with the treasurer of the board of directors in cash or certified check a sum equal to ten percent (10%) of the amount of the bid, not in any event, however, to exceed ten thousand dollars ($10,000).\n(b) The deposit shall be returned to the bidder if the bid is not successful, or, if successful, to be retained as a guarantee only of the bidder's good faith in entering into the contract.","path":["TN Code","Title 54","Chapter 12"],"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":"425a7a22e3ae4da8ad2cb8c2faf82c6b44cf08e2d98889e0842f136e6f8ea869","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-54-12-308","next":"us-tn/tenn.-code-ann.-54-12-310"},"notice":"GroundRules: Original legal text. Not legal advice."}