Athlete agents operating in Texas now must obtain a bond due to new legislation. The new law is titled HB 1123 and requires a $50,000 surety bond of athlete agents entering into an agent contract with an athlete. The bond guarantees compliance with the law and payment of any losses awarded to institutes of higher education/athlete as a result of an athlete agent supplying illegal valuables to an athlete.
Eric is the Webmaster of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog.