Section 1340-02-03-.09 - FINANCIAL RESPONSIBILITY REQUIREMENTS(1) Each Handgun Safety School must obtain, maintain and provide evidence of financial responsibility as a condition of approval for certification.(2) Handgun Safety Schools, that are government entities, shall meet these requirements under the provisions of the Governmental Tort Liability provisions of State law. (T.C.A. Title 29, Chapter 20).(3) Handgun Safety Schools, that are private entities, may comply with the financial responsibility requirement by providing the Department one (1) of the following: (a) Written proof of commercial liability insurance coverage provided by a single limit policy with a limit of not less than one million dollars ($1,000,000) applicable to one (1) occurrence;(b) Written proof of liability insurance provided by a split limit policy with a limit of not less than five hundred thousand dollars ($500,000) for bodily injury to or death of one (1) person, not less than one million dollars ($1,000,000) for bodily injury or death of two (2) or more persons in any one (1) occurrence and not less than one hundred and fifty thousand dollars ($150,000) for damage to property in any one (1) occurrence;(c) A deposit of cash in the amount of one million dollars ($1,000,000);(d) The execution and filing of a bond in the amount of one million dollars ($1,000,000); or(e) The filing of a surety in an amount of not less than one million dollars ($1,000,000) subject to approval by the Commissioner.(4) No policy or bond shall be effective unless it bears an issuance and expiration date and is issued by an insurance company or surety company licensed to do business in this state.(5) This requirement does not preclude insurance which by its nature provides coverage for this purpose as well as other general liability provisions.Tenn. Comp. R. & Regs. 1340-02-03-.09
Original rule filed January 25, 1995; effective April 10, 1995. Amendment filed September 16, 1996; effective January 28, 1997. Amendments filed March 15, 2018; effective 6/13/2018.Authority: T.C.A. §§ 39-17-1315(b)(2), 39-17-1360, and Public Chapter 943 of 1994.