SECTION 78.51. Required Surety Bonds

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(a) As a condition of registration, an athlete agent must deposit a surety bond with the Secretary of State in the amount of $50,000 as required by Occupations Code, §2051.151(a). See Form 2504.
(b) As a condition of registration, an athlete agent providing financial services must deposit a surety bond with the Secretary of State in the amount of $100,000 as required by Occupations Code, §2051.151(a-1). See Form 2503.
(c) A surety bond deposited with the Secretary of State to satisfy subsection (a) or (b) of this section must conform to the Insurance Code and be issued by a surety company authorized to do business as a surety in this state.

Source Note: The provisions of this §78.51 adopted to be effective October 24, 2011, 36 TexReg 7163

                    
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