The Texas Combative Sports Promoter Bond is required by the Texas Department of Licensing and Regulation.
The Texas Department of Licensing and Regulation requires that the Texas Combative Sports Promoter Bond be on file with the Department and in the amount of $15,000. This will not be the cost of the bond to you though—the premium cost of this bond with Surety1 starts as low as $150.
The Texas Combative Sports Promoter Bond states that the bond holder will not violate any of the duties, terms, conditions, provisions, or requirements of Chapters 51 and 2052, Texas Occupations Code, and 16 Texas Administrative Code Chapters 60 and 61.
This bond is required during the application process for becoming a combat sports promoter. In order to get a combative sports promoter license in the State of Texas, the Department of Licensing and Regulation must have this bond on file. This bond must remain current in order for the license to remain current as well.
Texas has a long history of making combat sports promoters post surety bonds. Starting in 1941, Texas has required sports promoters to get surety bonds and ever since, the required penal sum has grown to the $15,000 sum it is today. This bond ensures that the promoter uses his or her general license in a way that does not deceit or financially harm those they have business dealings with. If they do, a claim can be placed on the bond.