Tennessee SB0464 amends the law to set a minimum and maximum limit on bond premium fees.
Tennessee SB0464 modifies the Tennessee Code Annotated, Title 40, concerning pretrial release. It establishes that the premium fee for a bond should not be less than five percent (5%) or more than ten percent (10%) of the bond's face amount. For instance, if the bond is $2,500, the premium should range between $125 and $250. This change affects individuals awaiting trial who secure their release through a bond. The amendment takes effect on July 1, 2025.
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