Liability Insurance And Performance Bond

(1) Any private entity providing probation supervisory services shall post each of the following: (a) A liability insurance policy in an amount at least equal to the limits of governmental tort liability established in the Governmental Tort Liability Act, codified as T.C.A., Title 29, Chapter 20, that is in effect on the date the services are provided. Nothing in this rule RULES OF PROFESSIONAL CONDUCT CHAPTER 1177-02 shall be construed as prohibiting such entity from carrying a liability insurance policy in excess of the limits of liability provided in the Government Tort Liability Act. Such policy shall be for the purpose of reimbursing an injured or aggrieved party for any damages or expenses for which the entity providing probation supervisory services is found liable by a court of competent jurisdiction; (b) A performance bond issued by a corporate surety in the amount of twenty-five thousand dollars ($25,000). Such bond shall be to provide recourse to the government entity for which the private entity is providing probation supervisory services in the event of nonperformance, default, bankruptcy or failure of the entity to perform the required services; all private entities providing misdemeanor probation supervisory services in this state will use the uniform performance bond designed by the comptroller of the treasury of Tennessee; (c) A copy of the liability insurance policy and the performance bond shall be filed with the clerk of all courts in each county in which the entity proposes to provide such probation supervisory services.