SECTION 78.53. Maintenance of Bond

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(a) A bond filed under Occupations Code, Chapter 2051, and this chapter must be maintained for the duration of the registration term plus not less than two years after the later of:
(1) the date that the athlete agent ceases to provide financial services to an athlete; or
(2) the date that the athlete agent's certificate of registration terminates through expiration, surrender, cancellation or revocation.
(b) Within thirty days of a bond being depleted, cancelled, or revoked, the agent must notify the Secretary of State in writing of the depletion, cancellation, or revocation and provide evidence that a replacement bond has been obtained or shall be subject to suspension pursuant to Occupations Code, §2051.152.

Source Note: The provisions of this §78.53 adopted to be effective October 24, 2011, 36 TexReg 7163

                    
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