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Why is a Texas Health Spa Bond Required?
The surety bond is for the benefit of the state and each member of the health spa who has been damaged financially as a result of the closing of the health spa. Financial loss is limited to any unused or unearned portion of such member’s dues or fees. The aggregate liability to the surety company may not exceed the amount of the bond regardless of the number of years the bond continues in force. The bond is continuous until cancelled by the surety company with 60 days written notice to the secretary of state.
Health Spa Bonds And Getting Your Texas Business License/Registration
A health spa operator's certificate of registration is required by the Secretary of State before operating a health spa or offering for sale, or selling a membership in a health spa. The health spa operator’s certificate of registration is needed for each health spa location. A surety bond or security deposit must also be furnished with the Texas Secretary of State for each location unless the health spa qualifies for an exemption as determined by the Secretary of State. The surety bond is held for the benefit of members of the health spa who are harmed financially due to the closing of the health spa.