(a) The bonds obtained by specific licensees shall be payable to the state of Tennessee and shall remain effective for a reasonable period of time, to be determined by the commissioner, following the expiration of the license covered by the bond.(b) The commissioner may revoke any existing specific license or withhold the issuance of a new specific license pending the furnishing by the applicant of an acceptable bond.Acts 1976, ch. 475, § 4; T.C.A., §§ 53-3326, 68-23-404.
Tennessee Legal Code