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ATHLETE AGENT
FINANCIAL SERVICES
SURETY BOND
Form #2503 Rev. 12/2011
Submit to:
SECRETARY OF STATE
Registrations Unit
P O Box 13550
Austin, TX 78711-3550
512-475-0775
512-475-2815 - Fax
Filing Fee: None.
PRINCIPAL/
ATHLETE AGENT
Name:
Agent ID Number: OR Registration Number:
Street
City State Zip
BOND
Number:
Amount : One hundred thousand dollars ($100,000.00)
SURETY
Name:
We, PRINCIPAL AND SURETY identified above, our heirs, executors, successors and assigns, jointly and severally, are
liable to the State of Texas, for the amount of the bond shown, in favor of the state for the benefit of a person damaged by
PRINCIPAL’s violation of Chapter 2051, Occupations Code. SURETY acknowledges that it is duly authorized and qualified to
do business as a surety company in Texas.
This agreement is subject to the following terms and conditions:
The bond shall be maintained for not less than two years after the later of (i) the date that PRINCIPAL ceases to provide
financial services to an athlete; or (ii) the date the athlete agent’s certificate of registration expires, or is revoked, surrendered,
or cancelled.
This bond shall serve as the security required by § 2051.151(a-1), Occupations Code, so that PRINCIPAL may enter into a
financial services contract with an athlete.
As a condition of SURETY’s obligation, PRINCIPAL shall (1) faithfully discharge all obligations, duties and responsibilities
under Chapter 2051, Occupations Code, as that statute is presently worded, and as it may hereafter be amended to read; (2) pay
money owed to an individual or group of individuals when PRINCIPAL or PRINCIPAL’s representative or agent receives the
money; and (3) pay damages to an athlete caused by the intentional misrepresentation, fraud, deceit, or unlawful or negligent act
or omission of the PRINCIPAL or the PRINCIPAL’S representative or employee while acting within the scope of the financial
services contract. Any party injured by PRINCIPAL’s failure to meet the conditions of the bond may bring an action based on the
bond and recover against the bond.
The aggregate liability of SURETY for all breaches of bond conditions may not exceed the amount of the bond.
Regardless of the number of years the bond continues in force or the number of premiums paid or payable, the limit of SURETY’s
liability stated in the bond shall not be cumulative from year to year or period to period.
The bond shall not be subject to cancellation by either PRINCIPAL or SURETY unless written notice of intent to cancel is
forwarded to the Secretary of State, Registrations Unit, not later than the 60th day before the date of cancellation. If the
cancellation is at the request of SURETY, SURETY shall also provide PRINCIPAL with written notification at least 60 days
prior to the effective date of cancellation.
It is agreed that the bond shall be in full force and effect as of the following date:
Date:
Signature of authorized person for PRINCIPAL
Printed or typed name of authorized person for PRINCIPAL
Date:
Signature of authorized person for SURETY
Printed or typed name of authorized person for SURETY
Form 2503
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