Tenn. Comp. R. & Regs. 1680-01-01-.10
BODILY INJURY AND PROPERTY DAMAGE LIABILITY SURETY BOND (Executed in Triplicate) KNOW ALL MEN BY THESE PRESENTS, That we, _________________________________________ (Name of Air Carrier) _______________________________ of ___________________________, ________________________, as (Principal) (City) (State) Principal (hereinafter called Principal), and ______________________________________________________ (Name of Surety) _____________________________________________________ a corporation created and existing under the laws of the State of Tennessee, with principal office at ___________________________ (City) _________________________________________________ as Surety (hereinafter called Surety), are held and (State) firmly bound unto the State of Tennessee in the sum or sums hereinafter provided for which payment, well and truly to be made, the Principal and Surety hereby bind themselves, their successors and assigns, firmly by these presents. THE CONDITION OF THIS OBLIGATION IS SUCH THAT: WHEREAS, the Principal is or intends to become a common carrier by air subject to the laws of such State and the rules and regulations of The Tennessee Bureau of Aeronautics (hereinafter called Bureau), relating to insurance or other security for the protection of the public, and has elected to file with the Bureau a surety bond conditioned as hereinafter set forth; and WHEREAS, this bond is written to assure compliance by the Principal as a common carrier by air of passengers or property with the laws of such State and the rules and regulations of the Bureau relating to insurance or other security for the protection of the public, and shall insure to the benefit of any person or persons who shall recover a final judgment or judgments against the Principal for any of the damages herein described. NOW THEREFORE, if every final judgment recovered against the Principal for bodily injury to or the death of any person or loss of or damage to the property of others, sustained while this bond is in effect, and resulting from the negligent operation, maintenance, or use of aircraft in transportation (but excluding injury to or death of the Principal’s employees while engaged in the course of their employment, and loss of or damage to property of the Principal and property transported by the Principal designated as cargo), shall be paid, then this obligation shall be void, otherwise to remain in full force and effect. Within the limits hereinafter provided, the liability of the Surety extends to such losses, damages, injuries, or deaths regardless of whether such aircraft are specifically described herein and whether occurring on the route or in the territory authorized to be served by the Principal or elsewhere. This bond is effective from ________________________ (12:01 a.m., standard time, at the address of the Principal as stated herein) and shall continue in force until terminated as hereinafter provided. The Principal or the Surety may at any time terminate this bond by written notice to the Bureau, such termination to become effective not less than thirty (30) days after actual receipt of said notice by the Bureau. The Surety shall not be liable hereunder for the payment of any judgment or judgments against the Principal for bodily injury to or the death of any person or persons or loss of or damage to property resulting from accidents which occur after the termination of this bond as herein provided, but such termination shall not affect the liability of the Surety hereunder for the payment of any such judgment or judgments resulting from accidents which occur during the time the bond is in effect. The liability of the Surety on each aircraft shall be the limits prescribed in the laws of such State and the results and regulations of the Bureau governing the filing of Surety bonds, which were in effect at the time this bond was executed, and will be a continuing one notwithstanding any recovery hereunder. IN WITNESS WHEREOF, the said Principal and Surety have executed this instrument on the _________________ day of _________________, 19 _______. _______________________________________ (Principal) (Affix Corporate Seal) By ____________________________________ _______________________________________ (Surety) ___________________, ___________________ (City) (State) By Countersigned at ___________________________ this ________________ day of ______________ 19______ Bond No. ___________________________________ _______________________________________ Registered Resident Agent TBA Form B Revised 5/74
Authority: T.C.A. §42-220. Administrative History: Original rule certified June 10, 1974.