If you wish to engage in the representation of intercollegiate athletes in the State of Texas you must be registered and provide a Texas athlete agent bond. The Texas Occupations Code defines a an athlete agent as an individual that for compensation recruits or solicits an athlete to enter into an agent contract, a financial services contract or a professional sports servies contract with him/her or another, OR for a fee procures, offers, promises or attempts to obtain employment for an athlete with a professional sports team. The athlete agent must register with the Texas Secretary of State. The mandatory Texas Athlete Agent Surety Bond must be in the amount of $50,000 HOWEVER if the agent either provides financial services or enters into a financial service contract with an athlete then the bond requirement is $100,000 and is referred to as a Texas Athlete Agent Financial Services Bond. The Texas athlete agent bond guarantees that the agent will; (1) faithfully discharge all obligations, duties and responsibilities under Chapter 2051, Occupations Code; and, (2) pay any administrative penalty under subchapter J, Chapter 2051; and (3) pay damages awarded to an institution of higher education or an athlete as a result of the agent offering or providing a thing of value to an athlete or family member of the athlete. National surety leader, Surety One, Inc., offers athlete agent bonds in all states where they are required by law. Visit us at SuretyOne.com, call (787) 333-0222 or (800) 373-2804, or email us at Underwriting@SuretyOne.com for a Texas athlete agent bond application or any other bond need.
