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Texas Athlete Agent Bond

Texas Athlete Agent Bond

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Who Requires the Athlete Agent Bond and Why Is It Needed?

Texas Athlete Agents must furnish surety bonds to the Secretary of State to ensure that all obligations, duties and responsibilities defined under the Texas Statutes, Chapter 2051 are faithfully discharged by the bonded principal. The surety bond is issued for the benefit of anyone damaged by principal's violation of Chapter 2051, Texas Occupations Code. The bonded principal must pay any administrative penalty levied and any damages awarded to an institution of higher education or an athlete as a result of the agent's contractual violations to that athlete or a family member. Those harmed financially due to the principal's violations or failures under the bond terms may bring an action to recover against the bond.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your Texas Athlete Agent Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.

If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.

What Does the Bond Protect Against?

The surety bond requires that the principal satisfies all obligations, duties and responsibilities under the Texas Statute, Chapter 2051, Occupations Code, pay any administrative penalties under subchapter J, Chapter 2051; and pay damages awarded to an institution of higher education or to an athlete as a result of the agent offering or providing a thing of value to an athlete or family member of the athlete. Any party injured by principal’s failure to meet the conditions of the bond may bring an action based on the bond and recover against the bond. The aggregate liability of surety company shall not exceed the amount of the bond.




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