Texas Combative Sports Promoter & Gross Receipts Tax Bond
Texas Combative Sports Promoter Bond Information
The Compliance Division of the Texas Department of Licensing and Regulation requires Combative Sports Promoters to furnish $15,000 surety bonds (Form BOX005) to ensure compliance with applicable state laws pertaining to business conduct. A Combative Sports Bond for Gross Receipts Tax Bond (Form BOX006) in the same penal amount may also be required. The surety bond is typically obligated for legal operation of the principal as a Combative Sports Promoter pursuant to Texas Occupations Code Chapter 2052.
How Much Does a Combative Sports Promoter Bond Cost in Texas?
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What Does a Combative Sports Promoter Bond Protect Against?
The surety bond protects any person injured or aggrieved by any violation of the state law related to business operations of the bonded principal (including agents and representatives) as a Combative Sports Promoter pursuant to Texas Occupations Code Chapter 2052. An action may be taken against the combative sports surety bond by any person injured or aggrieved by the principal's violation of the law. This combative sports promoter bond allows for successive recovery, but in no event will the aggregate liability to the surety company for all damages exceed the face value of the surety bond.