If, after its investigation, the court finds that the bondsman:(1) Is insolvent;(2) Is not financially able to discharge the obligations of the bondsman's liabilities as surety;(3) Has failed, refused or neglected to make the semiannual reports of assets and liabilities as required in § 40-11-303;(4) Has made and filed false semiannual reports; or(5) Has failed to furnish the court with information touching upon solvency, when called for; then the court may order that the bondsman be prohibited from executing bonds, bail or other undertakings as surety in the court until the court becomes satisfied that the bondsman has complied with this part or the orders of the court, or that the bondsman is again financially solvent, and the court shall impose any other reasonable limitation on the total liability of the bondsman's undertakings in the court.Acts 1939, ch. 199, § 4; C. Supp. 1950, § 11715.4; T.C.A. (orig. ed.), § 40-1406.
Tennessee Legal Code