AN ACT to amend Tennessee Code Annotated, Title 66, relative to property owners' associations' responsibility to maintain fidelity bonds.

As introduced, requires a homeowners' association that collects assessments for common expenses to obtain and maintain a blanket fidelity bond to insure the homeowners' association against losses resulting from theft or dishonesty committed by the officers, directors, or persons employed by the homeowners' association, or committed by any managing agent or employees of the managing agent. - Amends TCA Title 66.