47-18-5505 - Application for registration Form, fee, and accompanying documents. [Effective July 1, 2010.] - Tennessee Statutes

47-18-5505. Application for registration Form, fee, and accompanying documents. [Effective July 1, 2010.]

(a)  An application for registration as a provider must be in a form prescribed by the administrator.

(b)  Subject to adjustment of dollar amounts pursuant to § 47-18-5532(f), an application for registration as a provider must be accompanied by:

     (1)  The fee established by the administrator;

     (2)  The bond required by § 47-18-5513;

     (3)  Identification of all trust accounts required by § 47-18-5522 and an irrevocable consent authorizing the administrator to review and examine the trust accounts;

     (4)  Evidence of insurance in the amount of two hundred fifty thousand dollars ($250,000):

          (A)  Against the risks of dishonesty, fraud, theft and other misconduct on the part of the applicant or a director, employee or agent of the applicant;

          (B)  Issued by an insurance company authorized to do business in this state and rated at least “A” or equivalent by a nationally recognized rating organization approved by the administrator;

          (C)  With a deductible not exceeding five thousand dollars ($5,000);

          (D)  Payable for the benefit of the applicant, this state and individuals who are residents of this state, as their interests may appear; and

          (E)  Not subject to cancellation by the applicant or the insurer until sixty (60) days after written notice has been given to the administrator;

     (5)  A record consenting to the jurisdiction of this state containing:

          (A)  The name, business address and other contact information of its registered agent in this state for purposes of service of process; or

          (B)  The appointment of the administrator as agent of the provider for purposes of service of process; and

     (6)  If the applicant is exempt from taxation under the Internal Revenue Code, 26 U.S.C. § 501, evidence of that status.

[Acts 2009, ch. 469, § 1.]