Who needs a Texas Athlete Agent Financial Services Surety Bond?
Texas Occupations Code Chapter 2051.151 requires any Athlete Agent to obtain a $100,000 Texas Athlete Agent Financial Services Surety Bond if the athlete agent provides financial services or enters into a financial services contract with an athlete. Please note this bond is in addition to the required $50,000 Texas Athlete Agent Surety Bond required of all athlete agents. The $100,000 Texas Athlete Agent Financial Services Surety Bond requirement is meant cover the following actions/inactions of the agent:
- The athlete agent must comply with the provisions of Texas Occupations Code Chapter 2051;
- The payment of money owed to an individual or group of individuals when the athlete agent receives the money; and
- The payment of damages to an athlete caused by the intentional misrepresentation, fraud, deceit, or unlawful/negligent act or omission of the athlete agent while acting within the scope of the financial services contract.
Additionally, the $100,000 Texas Athlete Agent Financial Services Surety Bond must remain in place for two years following the termination of the financial services contract or the date of revocation, surrender, etc. of the athlete agent’s license.
What is the current market for the Texas Athlete Agent Financial Services Surety Bond?
The Texas Athlete Agent Financial Services Surety Bond is underwritten carefully due to its risk. It requires a basic application which includes information about the athlete agent and a credit check which is performed by the surety company. Approval is typically issued the same day as the application is made.
How do I apply for a Texas Athlete Agent Financial Services Surety Bond?
- Complete our online Texas Athlete Agent Financial Services Surety Bond application, or
- Download and complete our printable Texas Athlete Agent Financial Services Surety Bond application, and
- Receive your surety bond quote in minutes!