Texas Athlete Agent Bond |
AmeriPro Surety Bonds | 844-589-9732
Texas Athlete Agents
The Texas Secretary of State regulates persons who work as athlete agents.
A Texas athlete agent must first register with the Secretary of State before acting in any capacity with an athlete regarding financial matters.
Texas Athlete Agent Bond
The Secretary of State also requires athlete agents to post up to two separate surety bonds.
- To register as an athlete agent, which is required by the State, a $50,000 Texas athlete agent bond must be filed, payable to the Texas Secretary of State;
- In addition to the $50,000 surety bond, an athlete agent who either a.) provides financial services and/or b.) enters into a contract within an athlete as defined by the state, must also post a separate $100,000 Texas athlete agent bond.
In the latter instance, the athlete agent would be required to have two separate Texas athlete agent bonds; one for $50,000 and one for $100,000.
Therefore, at the minimum, an athlete agent in Texas is required to have a surety bond for $50,000.
Texas Athlete Agent Bond: The Purpose
The Secretary of State is the obligee for a Texas athlete agent bond.
The purpose of the bond is to protect the state – and by extension — any athletes, from acts of criminality, theft, fraud, or malfeasance that an athlete agent may commit in their fiduciary or business capacity as a licensed agent by the state.
The bond is issued to protect others; it does not protect the athlete agent.
Texas Athlete Agent Bond: Premium and Duration
The premium for an athlete agent bond may be as low as follows:
- A $50,000 Texas athlete agent bond may be as low as $750;
- A $100,000 Texas athlete agent bond may be as low as $1500.
The premium an individual applicant will pay will be contingent on the applicant’s credit.
In all cases, AmeriPro Surety Bonds will work with you to obtain the best surety bond pricing.
Depending on the premium due, we may be able to offer premium financing.
However, expect to pay a large amount in the beginning, and up to 6 monthly payments to satisfy the premium due.
The bond, once issued, is good for one year.
The bond is required to be renewed on an annual basis and should run concurrently with your license.
Becoming Licensed as a Texas Athlete Agent:
Applicants for a Texas athlete agent license are required to complete the following:
- Complete the required Texas athlete agent application;
- Pay a $500 registration license fee;
- Obtain the surety bond in the amount or amounts required.
As an important side-note, applicants may wish to familiarize themselves with the legislation applicable to Texas athlete agents.
AmeriPro Surety Bonds
AmeriPro Surety Bonds is a surety bonds-only agency which provides Texas surety bonds.
Such bonds include license and permit, contractor, court, and fiduciary surety bonds.
We also have the ability to write surety bonds in all 50 states.
Please call our agency today and allow us the pleasure of working for you.